SpaceX, Elon Musk’s rocket and satellite company, is valued at more than $2 trillion after its share price rose nearly 20 percent during its first day on the stock market. At that level, Musk is the world’s first trillionaire.
The initial public offering was the largest in history — nearly doubling that of Saudi Arabia’s state-owned oil company, adjusted for inflation. It also set the stage for some of the fastest growing A.I. companies to go public and unleash an avalanche of wealth. About 400 current and former SpaceX employees are now worth $100 million or more each.
Musk’s 13-digit net worth is now equivalent to more than 3 percent of U.S. gross domestic product. In January 2021, Musk became the world’s richest man when his Tesla’s shares surged. Since then, his wealth has more than quintupled.
Musk, 54, founded SpaceX in 2002. It has revolutionized the space industry with partly reusable rockets and with Starlink, a satellite network that provides internet service to rural areas, airlines and the Ukrainian Army. SpaceX also controls xAI, Musk’s A.I. start-up, and X, his social media platform.
The U.S. and Iran say they are close to a peace deal
Officials in Washington and Tehran said today that they were close to reaching a deal to end the conflict that has roiled the Middle East and strained the global economy for the last three and a half months.
Both sides said terms hadn’t been finalized, but Iran’s foreign minister, Abbas Araghchi, said that an agreement had “never been closer.” President Trump indicated that a signing ceremony could happen as soon as this weekend. Previous potential deals have evaporated at the last minute.
Officials said the U.S. and Iran had agreed to a preliminary deal that would end the fighting, reopen the Strait of Hormuz and lift the U.S. naval blockade. Under the deal, Iran would renew its commitment to not develop or acquire a nuclear weapon, but the fate of its nuclear program would be discussed in future talks. Here’s what else we know.
In other Trump administration news:
Scientists race to test Ebola treatments
Health workers in East Africa are racing to find ways to stop the Ebola outbreak. But they are missing a crucial tool: a treatment that specifically targets the Bundibugyo virus, the species that has caused the current outbreak.
So, scientists are working to pinpoint drugs to test in clinical trials. My colleagues explain why there are no available treatments, and what kinds of tests health workers are considering.
Remembering David Hockney
David Hockney, the English artist whose suavely colored figurative and narrative paintings defied the dominant abstract schools of the mid-20th century, died today at 88. Hockney remained unfailingly productive almost his entire life, and he was one of the first popular artists of his time to depict undisguised gay content. (See some of his greatest artworks.)
TV shows to watch this summer
Over the next few months, a number of popular shows are returning to air, including “Ted Lasso,” “Slow Horses” and (for the last time) “The Bear.”
But don’t limit yourself to series you’ve already seen. On our TV critic’s list of the 30 shows to watch this summer, he also points out a new “Big Bang Theory” spinoff, a comedy with Will Ferrell as a broken-down golfer and “Elle,” a prequel to the 2001 film “Legally Blonde.” Find something for you.
There are now mountains in the middle of Paris
The oldest bridge in Paris, the Pont Neuf, currently looks like a snowy mountain range. It was wrapped with a fabric that was then inflated to create a rocky illusion right near some of the city’s most famous landmarks.
The temporary installation, by the semi-incognito French street artist JR, is a tribute to Christo, a pioneer of large-scale public art spectacles who draped the Pont Neuf with fabric four decades ago. Starting next week, visitors will be allowed to walk through the cavernous interior of the mountains. Take a look.
Have a fanciful weekend.
Thanks for reading. I’ll be back on Monday — Matthew
Brent Lewis and David Poller were our photo editors.
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