Elon Musk is now the first trillionaire, after the SpaceX IPO minted thousands of new millionaires on Nasdaq.
Late-night host Jimmy Kimmel roasted Elon Musk as a "wealthy weirdo" on Thursday as he was set to become a trillionaire ahead of SpaceX's historic IPO.
Its extraordinary valuation is a vote of confidence in humanity's capacity to innovate.
Workers were tearing President Donald Trump's name off the Kennedy Center on Friday as onlookers nearby chanted and cheered.Thousands tuned in on livestreams from ABC 7, WUSA9, Reuters, Fox 10, the Associated Press, Forbes, and MS NOW to watch it happen in real time. A crowd assembled outside the John F. Kennedy Center for the Performing Arts as workers erected scaffolding on the façade. A judge had killed the Trump board's last-ditch legal attempt to stop the removal just hours earlier, leaving a midnight deadline intact.Then the chanting started."Take it down!" — 15 times in a row. The crowd exploded into applause and cheers.About a minute passed."Take it down!" — 11 more times. More cheering. Someone hollered "Woo!" The energy didn't drop.After another minute, there were nine more chants, more applause, more whoops, more noise — the whole thing playing out over roughly 2-1/2 minutes of pure crowd electricity.The backstory: Trump's handpicked board illegally slapped his name onto the center's marble façade in December 2025, a federal judge ruled, because only Congress gets to change the name of a building named by Congress. When that ruling first came down in May, Kerry Kennedy — a niece of President John F. Kennedy — declared she might not need the pickaxe she'd famously vowed to grab once Trump left office.As of publication, the scaffolding is up, and workers were on site — but the letters haven't fully come down yet. The clock runs out at midnight.
Critics warn SpaceX’s initial public offering may be a threat to market stability and Americans’ retirement savings.
A federal judge on Friday rejected an eleventh-hour attempt by the Kennedy Center to pause the removal of President Trump’s name from the renowned performing arts center while an appeal plays out. The institution’s board had asked Judge Christopher Cooper to halt his previous order requiring that Trump’s name come off the façade of the…
Growing economies benefit all people, not just the uberwealthy.
Both Elon Musk and his company SpaceX broke records on Friday, while bringing thousands of uplifting stories along with it.Not only has SpaceX, founded in 2002, finally gone public with a massive opening on the NASDAQ, but with it, everyday employees' lives are changed forever.'... from engineers to Cafeteria workers.'SpaceX's IPO has successfully raised $75 billion, making Musk the world's first trillionaire, officially. Outlets including Reuters have reported that the company — now trading under SPCX — will boost Musk's net worth to more than $1.1 trillion due to his controlling shares.With him will come new millionaires in the thousands. More than 4,000 people will see a huge financial boost from the offering, which has been reported to include even cafeteria workers who have long held on to stock in the company.Musk shared a post on X that stated the IPO will "create 4,400 new Millionaires, from engineers to cafeteria workers. God bless Capitalism."Although the SpaceX owner has already distributed the wealth in that sense, he has made more shares available than is typical of most IPOs; more than 20% of available shares are reserved for retail investors, according to Yahoo.RELATED: Mamdani announces new city office that sounds just like DOGE — and gets nailed with mockery Adam Gray/Bloomberg/Getty Images SpaceX's successful round of $75 billion more than doubles the previous highest market debut from 2019, from Saudi Aramco, Saudi Arabia's state-owned oil company, that raised $29.4 billion.The record-setting raise makes SpaceX the largest IPO launch in history with a valuation of $1.77 trillion, per Yahoo Finance.Musk had been estimated to have a net worth of $782 billion as recently as Thursday, which still had him as the richest person in the world pre-trillionaire status. He has almost three times the wealth of Google co-founder Larry Page.RELATED: America's most powerful AI superchips may be in China's hands CHARLY TRIBALLEAU/AFP/Getty Images Musk told JPMorgan Chase during a livestream last week that SpaceX had been cash-flow positive since around 2015; however, the company reported $18.67 billion in revenue in 2025 but incurred a $4.94 billion net loss.The entrepreneur added that SpaceX is raising capital for "a significant growth phase" that includes plans to put over 100,000 satellites into orbit and build AI data centers in space.Like Blaze News? Bypass the censors, sign up for our newsletters, and get stories like this direct to your inbox. Sign up here!
On the early edition of Balance of Power, Bloomberg Washington Correspondent Kailey Leinz discusses the first day of trading for SpaceX shares. On today's show, Bloomberg's Anthony Hughes and Sana Pashankar, Chanos & Company Founder Jim Chanos, former International Space Station Commander Leroy Chiao. (Source: Bloomberg)