Musk is worlds first Trillionaire as SpaceX IPO pops 25% in record debut
Space stocks jump on frenzy to get long on SpaceX
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GSA sells the Old Post Office Building that was formerly Trump Hotel DC
Mamdani backs candidate who called America a “Fu**ing Disgrace”
Meta begins dismantling $2 Billion Manus deal on Beijing’d orders
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SpaceX IPO pops 25% in record debut
SpaceX shares under ticker SPCX surged nearly 25% shortly after opening trading following completion of the biggest IPO ever, pushing the company valuation above two trillion dollars and making Elon Musk the world’s first trillionaire.
SPCX Opening Surge: Shares opened at $150 dollars, 11% above the $135 dollar IPO price, before climbing further in heavy volume.
Valuation Tops Two Trillion: Early gains drove SpaceX market capitalization past two2 trillion dollars on its Nasdaq debut.
Musk Achieves Trillionaire Status: The rocket company’s successful trading debut elevated Elon Musk to the world’s first trillionaire.
Investor Demand Explosive: Proxy space stocks and options volumes boomed as traders scrambled for any exposure to the historic IPO.
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Melania Trump launches portable foster youth asset accounts
First Lady Melania Trump introduced Fostering the Future accounts at the Treasury Department, creating portable financial resources so foster youth gain personal asset ownership and fiscal autonomy upon reaching adulthood.
Portable Asset Ownership: The accounts belong solely to the young person and move with them despite frequent placements between homes and families.
Twenty Three States Committed: All red states have already agreed to fund the accounts, giving access at maturity for any use chosen.
Pairs With Scholarships: The financial tool complements existing Fostering the Future scholarships to help recipients become independently wealthy and self-supporting.
Nonpartisan Future Focus: The initiative strengthens America’s workforce and economy, urging all governors and private donors to join without regard to politics.
GSA sells the Old Post Office Building that was formerly Trump Hotel DC
The General Services Administration sold the Old Post Office Building on Pennsylvania Avenue in Washington, D.C. the former site of the Trump International Hotel, to BDT & MSD Partners under the existing ground lease.
Eighty Million Dollar Sale: BDT & MSD Partners acquired the building and land for $80 million dollars and is discussing resale for $400 million.
Preservation Covenants Included: Sale permanently secures public clock tower access and binding protections for the building’s architectural heritage.
Fine Arts Retained: Dedicated covenant keeps American public ownership of artwork inside, including Robert Irwin’s Forty Eight Shadow Planes and Benjamin Franklin statue.
Taxpayer Revenue Gain: Over $250 million dollars in private capital invested since redevelopment; revenues now exceed $110 million dollars in the last decade.
Mamdani backs candidate who called America a “Fu**ing Disgrace”
New York City Mayor Zohran Mamdani continues endorsing Democratic Socialist congressional candidate Darializa Avila Chevalier for New York’s 13th district despite resurfaced deleted posts calling America a f***ing disgrace and other radical views.
Views Have Evolved: Mamdani claims he never saw the old social media posts and states Avila Chevalier’s positions have changed since she called veterans war criminals and demanded abolishing borders.
Anti Israel Organizer: Candidate’s main credential is leading Columbia University protests featuring assaults on Jewish students and swastikas that forced campus closure.
Scrubbed Campaign Pledges: Website once promised votes against all weapons to any country and nationalizing utilities; language removed for clarity per spokesperson.
June Twenty Three Primary: Mamdani sticks with the DSA insurgent challenging five term Democrat Rep. Adriano Espaillat despite her past praise of his mayoral run.
California Took 81 % of Federal immigrant welfare spending
Federal data shows California received six hundred seventeen point five million dollars—eighty one percent of nationwide TANF child only cash assistance tied to immigration status ineligible households—in fiscal year twenty twenty four.
Sixty Thousand Households: Nearly 60,000 California cases represented about 70% of the national total for these immigration related child only TANF benefits.
Bypasses Work Rules: Child only structure allows ongoing household support without the work requirements or 60 month lifetime limits imposed on citizen families.
Monthly Benefit Doubled: Average payment rose from $408 in fiscal 2013 to $875 in fiscal 2024.
Cumulative Cost Eighteen Billion: Since 2001 these cases have totaled roughly $18.3 billion dollars with 4 out of 5 dollars flowing to California.
Meta begins dismantling $2 Billion Manus deal on Beijing’d orders
Meta Platforms has completed an operational split from its $2 billion dollar Manus acquisition and suspended data sharing after Beijing ordered the deal reversed under foreign investment security rules.
Operational Split Ordered: Employees stopped using Manus tools internally while blocking the Singapore based firm from accessing Meta’s data systems this month.
Unprecedented Reversal: Chinese regulators in April demanded full unwind of the completed acquisition involving strategic AI talent and technology.
Tightened Export Controls: Beijing issued new rules effective July first giving state retroactive chokehold on outbound deals involving Chinese investors or sensitive sectors.
Singapore Washing Limits: Move signals Beijing will not tolerate Chinese origin AI firms relocating headquarters to shed domestic image through foreign acquisitions.
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Space stocks jump on frenzy to get long on SpaceX
Investor demand for indirect exposure to SpaceX ahead of its one point seven five trillion dollar IPO is fueling sharp gains in proxy stocks and record options trading volumes.
EchoStar Surges Eleven Percent: The networking firm owning 3% of SpaceX saw options volume eleven times the 30 day average.
AST SpaceMobile Up Twelve Percent: Satellite company with upcoming SpaceX rocket launch recorded nearly $140 million dollars in options activity.
ETF Buying Bottleneck: Funds like Procure UFO and Defiance JEDI are aggressively purchasing shares of AST, EchoStar and Spire due to heavy inflows.
Retail Options Explosion: High implied volatility and short dated call buying reflect both retail and institutional clamor for SpaceX linked plays.
GM lets EV owners sell power back to the grid
General Motors is releasing a software update enabling owners of 250,000 bidirectional capable electric vehicles to sell electricity from their cars back to the U.S. power grid during peak demand.
Vehicle to Grid Update: The change expands vehicle to home capability so EVs can support utilities and earn compensation for owners while GM takes a portion.
Massive Storage Potential: Quarter million vehicles could power 120,000 homes for up to one week during outages.
Testing With Utilities: Pilots underway with Pacific Gas and Electric and DTE Energy using GM employee homes to build reliable backup capacity.
Fifty Two Thousand By Thirty Thirty: Company expects more than 52,000 GM EVs participating in grid balancing protocols nationwide by end of decade.
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The 100+ day Iran War!! What we're witnessing here is the most expensive marketing campaign in history for the Unprofitable SpaceX bailout. Golden Dome is the most expensive ($1.2 trillion) weapons system ever. We need the Israeli tech from Iron Dome which is the reason for section 224 of the 2027 Defense Authorization Bill. Since Golden Dome was funded in the "Big Beautiful Bill" reconciliation process even a Democratic party landslide in November can't kill it as the reconciliation goes through 2029 the next Presidential Term.
https://wavesandpositions.substack.com/p/the-golden-dome