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SpaceX targets biggest ever stock market debut, putting Musk on course to be trillionaire

SpaceX targets biggest ever stock market debut, putting Musk on course to be trillionaire

June 03, 2026 • Guardian Tech

Summary

SpaceX plans to raise about $75 billion by selling shares in a stock market debut next week, which would be the largest ever initial public offering (IPO). If successful, the company would be valued at $1.77 trillion, and Elon Musk could become the first trillionaire.

Key Facts

  • SpaceX will sell 555.6 million shares at $135 each in its IPO.
  • The company's market value would reach $1.77 trillion after the IPO.
  • Elon Musk will keep 82.4% of the voting power and is not selling his shares.
  • SpaceX was founded in 2002 and works on rockets, satellites, and artificial intelligence.
  • NASA relies on SpaceX rockets for most of its launches.
  • SpaceX recently acquired Musk’s AI company xAI to support solar-powered infrastructure for AI.
  • The IPO involves 23 banks, including Goldman Sachs as lead bank and others like JP Morgan and Morgan Stanley.
  • Investors and pension funds are expected to be exposed to SpaceX stock due to its large size in the S&P 500 index.
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Guardian Tech Guardian Business Guardian World
SpaceX says its worth $1.75tn as it nears stock market debut

SpaceX says its worth $1.75tn as it nears stock market debut

June 03, 2026 • BBC Business

Summary

SpaceX has valued itself at $1.75 trillion in a document filed with U.S. regulators ahead of its planned stock market debut. The company expects its shares to start trading on Nasdaq on June 12, with an estimated price of $135 per share, which would make it one of the most valuable companies worldwide.

Key Facts

  • SpaceX values itself at $1.75 trillion, up from $1.25 trillion earlier this year.
  • The company plans to start trading on the Nasdaq stock exchange on June 12.
  • SpaceX set an estimated share price of $135 well before the stock market debut, which is unusual.
  • Elon Musk owns more than 80% of SpaceX's stock holdings.
  • If shares sell at $135 or higher, SpaceX will rank among the world’s most valuable companies, and Musk could become a trillionaire.
  • Many companies that go public see their value drop after their initial stock offering.
  • SpaceX’s valuation is based on expected future earnings rather than current sales.
  • The company runs many projects including rockets, xAI, and Starlink internet services.
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BBC Business BBC Top Stories BBC US
SpaceX plans to raise up to $75 billion in an IPO that would be the largest ever and could make Elon Musk a trillionaire

SpaceX plans to raise up to $75 billion in an IPO that would be the largest ever and could make Elon Musk a trillionaire

June 03, 2026 • PBS NewsHour

Summary

SpaceX plans to sell shares to the public this month, aiming to raise up to $75 billion. This would make it the biggest stock market debut ever and value the company at about $1.77 trillion, potentially making Elon Musk the world’s first trillionaire.

Key Facts

  • SpaceX will offer 555.6 million shares at $135 each in its public stock sale.
  • The company’s estimated market value after the sale is $1.77 trillion.
  • Only six companies in the S&P 500 have a higher value, with Nvidia valued at $5.2 trillion.
  • Elon Musk is the CEO, chief technical officer, and chairman of SpaceX.
  • Musk owns 5.22 billion Class B shares, which each have 10 votes, giving him 82.4% of the voting power.
  • The IPO would be the largest ever for any company.
  • The public offering is planned to happen this month.
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PBS NewsHour
SpaceX’s IPO is set to be the biggest ever and could make Elon Musk a trillionaire

SpaceX’s IPO is set to be the biggest ever and could make Elon Musk a trillionaire

June 03, 2026 • AP News

Summary

SpaceX plans to raise up to $75 billion by selling shares in its initial public offering (IPO), which would make it the largest IPO ever. This move could increase Elon Musk’s wealth, potentially making him the world’s first trillionaire, as he holds the majority voting power in the company.

Key Facts

  • SpaceX will sell 555.6 million shares at $135 each in its IPO.
  • The IPO values SpaceX at about $1.77 trillion.
  • Elon Musk owns 5.22 billion Class B shares, giving him 82.4% of voting control in SpaceX.
  • Musk’s current net worth is estimated at $826 billion, with a $542 billion stake in SpaceX.
  • The expected $75 billion raised would surpass the $26 billion Saudi Aramco raised in 2019.
  • SpaceX’s IPO filing includes plans to fund human missions to the moon and Mars.
  • The document describes goals to build a permanent human colony on Mars with at least one million people.
  • Other large tech companies like Anthropic are also preparing to go public soon.
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AP News
Parents Accuse Popular Baby Food Brands of 'Poisoning' Kids

Parents Accuse Popular Baby Food Brands of 'Poisoning' Kids

June 03, 2026 • Newsweek

Summary

Several recent lawsuits accuse popular baby food companies like Gerber and Beech-Nut of including harmful heavy metals such as lead and arsenic in their products. The lawsuits claim these metals caused brain damage and other health problems in children, and that the companies knew about the risks but did not warn consumers.

Key Facts

  • Lawsuits were filed in at least three states by mothers on behalf of their children.
  • Companies named include Gerber, Beech-Nut, and other baby food makers.
  • The lawsuits allege the baby foods contained toxic heavy metals like lead and arsenic.
  • Plaintiffs say these metals caused neurological damage, including autism and ADHD.
  • Lawsuits claim companies knew about the contamination from internal testing.
  • There were no clear regulations for heavy metals in baby food at the time the products were sold.
  • Parents were not properly warned about the presence or risks of heavy metals in the products.
  • The lawsuits say companies prioritized profits over safety and continued to sell contaminated food.
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Newsweek
Oddone hails EU-Mercosur accord's 'civilisational approach' beyond commercial and economic interests

Oddone hails EU-Mercosur accord's 'civilisational approach' beyond commercial and economic interests

June 03, 2026 • France24

Summary

Gabriel Oddone, Uruguay’s Economy and Finance Minister, spoke at a Latin America forum about Uruguay’s social democratic economic model. He described the EU-Mercosur trade agreement as more than a trade deal, calling it a shared way to manage the economy and markets based on common values between Uruguay and Europe.

Key Facts

  • Gabriel Oddone is Uruguay’s Economy and Finance Minister and an economist.
  • Uruguay follows a social democratic model focusing on welfare, fiscal responsibility, and reducing inequality.
  • This approach contrasts with some Latin American neighbors adopting more right-wing economic policies.
  • Oddone highlights Uruguay’s strong social safety net as a foundation for stability and prosperity.
  • He describes the EU-Mercosur agreement as a “civilizational approach” beyond just trade.
  • The pact reflects shared European and Uruguayan ideas on economic management and market regulation.
  • Oddone says Uruguay’s political and cultural identity is more closely aligned with Europe than with the United States.
  • Uruguay maintains good relations with neighboring countries despite political differences.
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France24
SpaceX plans to raise $75B in its IPO

SpaceX plans to raise $75B in its IPO

June 03, 2026 • Axios

Summary

SpaceX plans to raise $75 billion by selling shares in a public stock offering soon. If successful, this will be the largest initial public offering (IPO) ever, valuing the company at about $1.75 trillion.

Key Facts

  • SpaceX aims to raise $75 billion through its IPO.
  • The company plans to sell 555.6 million shares at $135 each.
  • This would break the current largest IPO record of $29.4 billion set by Saudi Aramco in 2019.
  • SpaceX would be valued around $1.75 trillion after the offering.
  • The company started as a rocket launch business.
  • Most current revenue comes from its Starlink internet service.
  • SpaceX plans to expand into artificial intelligence (AI) and orbital data centers.
  • The company estimates the AI market could be worth $26.5 trillion.
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Axios
Australia politics live: bank expects home price reduction from budget to be more than twice government forecast

Australia politics live: bank expects home price reduction from budget to be more than twice government forecast

June 03, 2026 • Guardian World

Summary

Australia’s largest bank expects that changes to tax rules on property, such as less generous negative gearing and capital gains discounts, will lower home prices by 5%. This is more than double the government’s forecast of a 2% drop, and the housing market is already slowing due to global uncertainty and rising interest rates.

Key Facts

  • The Commonwealth Bank analyzed the impact of new tax changes on the housing market.
  • Negative gearing and capital gains tax discounts for existing properties will reduce home prices by 5%.
  • The government Treasury forecasted only a 2% reduction in home prices from these changes.
  • The property market slowdown started before the budget because of global uncertainty and higher interest rates.
  • The bank now expects home prices to remain flat in 2026, revising down from earlier forecasts of growth.
  • Interest rates are predicted to rise once more in August, despite slower economic growth shown in recent data.
  • The tax changes caused a faster and bigger market response than expected.
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Guardian World
American Airlines suspends 6 routes because of high jet fuel costs

American Airlines suspends 6 routes because of high jet fuel costs

June 03, 2026 • CBS News

Summary

American Airlines is temporarily stopping flights on six routes because the war in Iran has made jet fuel more expensive. The airline says these changes are short-term and will help manage higher fuel costs, not permanent cuts.

Key Facts

  • American Airlines will pause flights on six routes between August and September.
  • The affected routes include flights from Los Angeles to Cleveland, Columbus, Pittsburgh, Washington Dulles, and from Charlotte to Ontario and Sacramento.
  • The airline says jet fuel costs have risen due to the war in Iran limiting oil supplies.
  • Jet fuel makes up about 25% to 30% of an airline's operating costs.
  • American Airlines will offer refunds or alternate flights for passengers with tickets on these routes.
  • Other airlines like Delta, KLM, and Lufthansa are also cutting routes or raising fees because of higher fuel costs.
  • American Airlines says it is not permanently stopping any routes but adjusting schedules temporarily due to fuel prices.
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CBS News
3 questions answered by The Hill’s Invest in America Summit

3 questions answered by The Hill’s Invest in America Summit

June 03, 2026 • The Hill

Summary

The Hill held its second annual Invest in America Summit, where lawmakers, regulators, and industry leaders discussed changes in the U.S. economy. Topics included the effects of artificial intelligence, President Trump’s tariffs, and future energy markets.

Key Facts

  • The event was the second annual Invest in America Summit by The Hill.
  • Participants included lawmakers, regulators, and industry leaders.
  • They talked about how the U.S. economy is evolving.
  • The impact of artificial intelligence on the economy was a key topic.
  • President Donald Trump’s tariffs and their economic effects were discussed.
  • Future trends in energy markets were also covered.
  • The summit aimed to address how the U.S. keeps up with global competitors.
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The Hill
U.S. says it plans extra tariffs of 10% or more for most trading partners after forced labor probe

U.S. says it plans extra tariffs of 10% or more for most trading partners after forced labor probe

June 03, 2026 • PBS NewsHour

Summary

The U.S. government plans to impose extra tariffs, or taxes on imports, of 10% or more on many products from several major trade partners. This action follows an investigation into goods believed to be made using forced labor. Additional tariffs may be introduced later.

Key Facts

  • President Donald Trump aims to rebuild tariffs that were removed by the Supreme Court recently.
  • The administration has proposed tariffs of 10% or more on products from many key U.S. trading partners.
  • The tariffs are a response to findings about imports made with forced labor.
  • This is happening less than four months after the Supreme Court struck down previous tariff rules.
  • More tariffs could be added in the future based on ongoing investigations.
  • The goal is to prevent goods made with forced labor from entering the U.S. market.
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PBS NewsHour
Pattie Gonia vs. Patagonia trademark dispute plays out on social media

Pattie Gonia vs. Patagonia trademark dispute plays out on social media

June 03, 2026 • The Hill

Summary

Patagonia, a company founded in 1972, said that Pattie Gonia’s products confused customers who thought they were from Patagonia. This trademark dispute between the two brands became a topic of discussion on social media.

Key Facts

  • Patagonia is a company founded in 1972.
  • Pattie Gonia sells merchandise that Patagonia believes looks similar to its own.
  • Patagonia claims this similarity has caused customer confusion.
  • The issue involves trademark rights, which protect brand names and logos.
  • The disagreement has attracted attention on social media platforms.
  • Both brands are involved in outdoor and environmental themes.
  • The dispute highlights challenges in protecting brand identity online.
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The Hill
In first, California city overwhelmingly votes to permanently ban datacenters

In first, California city overwhelmingly votes to permanently ban datacenters

June 03, 2026 • Guardian World

Summary

Monterey Park, California, voted to permanently ban datacenters in their city through a ballot initiative, with early results showing strong support for the ban. This makes Monterey Park the first U.S. city to ban datacenters by a public vote, aiming to protect local health and resources.

Key Facts

  • Monterey Park is the first U.S. city to vote on a permanent datacenter ban through a ballot measure.
  • Early election results showed about 86% of voters favored the ban.
  • The ban aims to protect air quality, drinking water, public health, and prevent rises in electricity and water rates.
  • The city council had already approved a temporary moratorium on datacenters before the vote.
  • Concerns from residents include environmental harm and increased utility costs near datacenters.
  • The proposed datacenter project by HMC StratCap, covering nearly 250,000 square feet, was withdrawn after local opposition.
  • Similar ballot measures are planned or passed in other U.S. communities, requiring voter approval for datacenter projects or tax incentives.
  • A national poll shows about 70% of Americans oppose datacenters being built in their local areas.
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Guardian World Guardian US Guardian Tech
Ford recalls nearly 420,000 vehicles over faulty seat belts

Ford recalls nearly 420,000 vehicles over faulty seat belts

June 03, 2026 • CBS News

Summary

Ford Motor is recalling nearly 420,000 vehicles because of seat belts that may not work properly, which could increase the risk of injury in a crash. Separately, Ford also warned owners of about 4,653 Ford Maverick and Bronco Sport vehicles not to drive them due to a suspension problem that can cause part of the front wheel assembly to disconnect.

Key Facts

  • The seat belt recall affects Ford Expedition and Lincoln vehicles from model years 2018 to 2022.
  • Faulty seat belts may lock up and prevent proper retracting or extending, reducing occupant safety.
  • Ford knows of one injury linked to the seat belt issue.
  • Affected owners will be notified by mail starting June 8.
  • Ford and Lincoln dealers will inspect and replace the seat belt retractors for free.
  • The suspension recall concerns 2021-2026 Bronco Sport and 2022-2026 Maverick vehicles.
  • Improperly installed ball joints in the suspension may cause a control arm to disconnect from the front wheel.
  • Ford advises owners not to drive vehicles under the suspension recall until repairs are done at no cost.
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CBS News
Here's where retirees should keep $20,000 right now (and where they shouldn't)

Here's where retirees should keep $20,000 right now (and where they shouldn't)

June 03, 2026 • CBS News

Summary

Retirees should carefully choose where to keep $20,000 to earn good interest while keeping access to their money. High-yield savings accounts and money market accounts offer better interest rates and flexibility compared to traditional savings accounts or certificates of deposit (CDs).

Key Facts

  • Stock market returns over the last 10 years have been about 16%, but stocks can lose value quickly, which is risky for retirees.
  • Inflation and higher interest rates make careful saving important for retirees.
  • High-yield savings accounts currently offer about 4% interest and allow easy access to funds.
  • Money market accounts offer interest rates in the high 3% range and allow check writing.
  • Both high-yield savings and money market accounts are insured by the FDIC, protecting deposits.
  • Traditional savings accounts have very low interest rates, around 0.38%, which do not keep up with inflation.
  • CDs may offer fixed rates but restrict access to funds and might not be suitable for those needing flexibility.
  • Retirees should consider accounts that balance good returns with easy access to funds in case of emergencies.
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CBS News
From butterflies to breast milk, Uber's list of lost items reveals wild backseat discoveries

From butterflies to breast milk, Uber's list of lost items reveals wild backseat discoveries

June 03, 2026 • BBC World

Summary

Uber shared a list of unusual items left behind by passengers in its cars, marking the 10th year of this report. The list shows surprising things found in Uber rides and highlights trends and common lost items over time.

Key Facts

  • Uber’s lost and found list includes strange items like an ankle monitor, live butterflies, breast milk, and a meat slicer.
  • New York City is the most forgetful city in the US for leaving items behind.
  • Sunday is the day when most items are left in Uber vehicles.
  • Uber controls about 76% of the US rideshare market, leading to many reported lost items, including over a million phones last year.
  • Some unique lost items over the years included lobster (2017), salmon head (2019), a taxidermied rabbit (2025), and a 75-gallon fish tank (2026).
  • Common lost items recently include vapes, dolls, various types of teeth, and Croc sandals.
  • Uber plans to launch a new lost and found reporting system in its app by the end of the year.
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BBC World BBC US
These are the best airlines in 2026, according to The Points Guy

These are the best airlines in 2026, according to The Points Guy

June 03, 2026 • CBS News

Summary

Delta Air Lines is ranked as the best U.S. airline in The Points Guy's 2026 survey, based on factors like reliability, customer experience, loyalty programs, and cost. Rising fuel prices have made cost a more important factor this year, with Frontier Airlines offering the most affordable tickets.

Key Facts

  • Delta Air Lines took first place for the eighth year in a row.
  • Cost made up 25% of the airline score in 2026, up from 20% in 2025 due to fuel price increases linked to the Iran war.
  • Reliability was the largest factor at 30%, with loyalty programs at 25% and travel experience at 20%.
  • United Airlines and Southwest Airlines ranked second and third, respectively.
  • Frontier Airlines had the cheapest ticket prices among the eight ranked airlines.
  • Spirit Airlines was dropped from the list because it stopped operating recently.
  • Delta shares profits with employees, which is linked to better customer service.
  • AI tools like Autopilot and Google Flights can help travelers find cheaper fares.
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CBS News
3 mortgage interest rate mistakes to avoid this June

3 mortgage interest rate mistakes to avoid this June

June 03, 2026 • CBS News

Summary

Mortgage interest rates may change in June due to upcoming economic reports and a Federal Reserve meeting. Borrowers should avoid three common mistakes to protect themselves when buying or refinancing a home: assuming a Fed rate pause won’t affect rates, expecting only usual factors to influence rates, and overlooking the importance of a good credit score.

Key Facts

  • Mortgage interest rates have risen about half a percentage point since mid-April.
  • The Federal Reserve will meet on June 16, which can influence mortgage rates even if the Fed does not change its main interest rate.
  • Mortgage rates can rise or fall due to many factors, including employment data, inflation, geopolitical tensions, and oil prices.
  • Lenders set mortgage rates based on Fed guidance but can raise rates even if the Fed pauses rate changes.
  • Locking in a mortgage interest rate now might benefit borrowers before rates potentially increase.
  • A strong credit score helps borrowers qualify for better mortgage rates.
  • Borrowers should check and improve their credit scores by fixing errors and reducing debt.
  • Usual economic factors are not the only reasons mortgage rates change; global events also matter.
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CBS News
Outback Steakhouse sued for $1.5M over alleged mashed potato slip-and-fall

Outback Steakhouse sued for $1.5M over alleged mashed potato slip-and-fall

June 03, 2026 • CBS News

Summary

A woman in Virginia is suing Outback Steakhouse for $1.5 million after she slipped on mashed potatoes and got hurt in the restaurant. She says the restaurant did not keep the floor safe or warn customers about the spill.

Key Facts

  • The incident happened in May 2023 at an Outback Steakhouse in Sterling, Virginia.
  • Tracy Renshaw, 56, slipped on what she says was mashed potatoes and fell face-first on the floor.
  • She claims the restaurant waited too long to clean up the spill and did not warn customers about the slippery floor.
  • Renshaw says she has serious injuries, pain, medical bills, and that her ability to work has been affected.
  • The lawsuit was first filed in Loudoun County Circuit Court and then moved to federal court last month.
  • Outback Steakhouse has not responded publicly to requests for comment.
  • The lawsuit argues the restaurant was negligent and failed to keep a safe environment for customers.
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CBS News
How much interest can a $1,000 CD account earn now (and is it worth opening)?

How much interest can a $1,000 CD account earn now (and is it worth opening)?

June 03, 2026 • CBS News

Summary

A $1,000 certificate of deposit (CD) account offers fixed interest rates but requires savers to keep their money locked away for several months or years. Depending on the term length, earnings can range from about $10 after three months to around $230 after five years, which may or may not be worth the lack of access to the money.

Key Facts

  • CDs have fixed interest rates, meaning the rate stays the same until the CD matures.
  • A 3-month CD at 3.90% yields about $9.61 in interest on $1,000.
  • A 1-year CD at 4.11% yields about $41.10 in interest on $1,000.
  • A 5-year CD at 4.20% yields about $228.40 in interest on $1,000.
  • Money in a CD cannot be accessed without penalty until the term ends.
  • Other options, like high-yield savings accounts or investments in stocks, might offer higher returns or more flexibility.
  • Choosing whether to open a CD depends on individual financial goals and need for access to funds.
  • Online marketplaces can help savers compare CD rates and terms easily.
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CBS News