Elon Musk is poised to become the world's first trillionaire following SpaceX's massive IPO. The listing could value his stake in the company at $841 billion, pushing his total net worth with Tesla holdings past $1.11 trillion.
SpaceX is on the verge of its historic IPO, potentially valuing it at $1.8 trillion and making Elon Musk the first trillionaire. The offering, which includes X and xAI, faces scrutiny over financial performance despite ambitious future plans. Global markets are also reacting to renewed US-Iran tensions and US inflation data, impacting currencies and stocks.
Shanghai's municipal government has announced plans to research and develop compute futures, a new financial derivative, as part of its strategy to become a global wealth management hub. This marks the first official mention of compute futures by Shanghai authorities.
Hong Kong has surpassed Switzerland as the world's leading offshore financial center, a significant milestone reflecting a shift in global wealth creation towards mainland China. This development challenges narratives of Hong Kong's decline.
Hong Kong overtakes Switzerland as the world's largest cross-border wealth hub, with a 10.7% increase to $2.95 trillion, driven by Asia's growing wealth and deregulation efforts.
Global private financial wealth increased by 7.4% in 2025, driven by strong equity markets, with Germany's total wealth reaching $23.3 trillion. The 'super-rich' (UHNWIs with >$100M) in Germany grew to 5,000, holding 27.3% of the country's financial wealth, widening the wealth gap.
The journalist Patrick Radden Keefe on trying to unravel the double life and tragic death of 19-year-old Zac Brettler – and what it tells us about London’s dark underbellyFor decades, London has been a magnet for global wealth, a flashy playground for the super-rich. To one teenage boy, it contained an elite scene he desperately wanted to be part of: the oligarch class.Not just rich, but powerfully connected billionaires who amassed such huge fortunes with so few questions asked that they helped turn London into what was called the “dirty money capital” of the world. Zac Brettler began posing as the son of one. Within months, he was found dead on the riverbank in central London. He was 19 years old. Continue reading...
