Shocking poll shows most Americans support trillionaires like Musk
If they build wealth the right way
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Shocking poll shows most Americans support trillionaires like Musk
SpaceX IPO tax windfall shrinks fast as California workers get clever
Intel explodes 7% after Trump lands Apple U.S. manufacturing win
Gas prices crash below $4 after Iran breakthrough opens Hormuz route
Hollister and Target team up to grab huge $89 billion college cash wave
Porsche just turned Toy Story’s Woody Buzz and Jessie into real 911s
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Shocking poll shows most Americans support trillionaires like Musk
A new survey finds 57% of Americans accept individuals amassing trillion-dollar fortunes like Elon Musk’s, but only if the riches come without exploiting others or harming fellow participants in the upside.
Survey majority accepts: 57% deem single-person trillionaire status fine provided no exploitation occurs and others gain opportunity to share prosperity.
Capitalism alignment noted: Respondents believe in the system yet demand it deliver broader wealth creation beyond just top executives or firms.
Musk milestone highlighted: SpaceX debut pushed his stake-driven net worth past $1.1 trillion, exceeding combined fortunes of Bezos, Gates, Zuckerberg and Buffett.
Political pushback cited: Senators Warren and Sanders condemned the valuation, citing typical household would need millions of years of work to match.
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Musk’s SpaceX has 38 % shot at becoming worlds top company
Freshly public at $2.6 trillion and fifth-largest company, SpaceX faces long odds in options markets to overtake Nvidia for the top spot, with traders giving roughly 38% chance by June 2028.
Current valuation race: Company sits neck-and-neck with Amazon for fifth place, over $1 trillion ahead of Tesla but needs 70% rally to pass Apple and Alphabet.
Option strike analysis: June 2028 calls imply 46% probability of reaching $340 share price needed for second place.
Longer term outlook: December 2028 extends odds of toppling Nvidia to 41% as market bets on sustained growth.
Index fast track: Debut perks include quick derivatives trading and benchmark inclusion yet path to first remains years away per crowd pricing.
Your 401k is already betting big on Elon Musk’s rocket
With SpaceX up more than 30% since its IPO, millions of 401(k) holders may hold the stock indirectly through active mutual funds or soon via Russell 1000 and Nasdaq-100 indexes.
Active fund exposure: Fidelity parent FMR owns nearly 1% across 46 funds while Baron funds allocate over 20% of assets to the aerospace giant.
Index inclusion timeline: Russell will add, after five trading days, on Thursday, while Nasdaq-100 entry lands July 6, flowing into passive ETFs.
Modest initial weight: Low public float keeps influence small yet strong performance still benefits holders without direct purchase.
Awareness advised: Investors urged to check portfolio holdings for concentration risk aligned to long-term goals.
SpaceX IPO tax windfall shrinks fast as California workers get clever
Blockbuster debuts of SpaceX, OpenAI and Anthropic promise revenue for California yet dual-trigger RSUs, (restricted stock, units) donor funds and pre-IPO sales may blunt and delay the expected billions compared to past Facebook-level hauls.
Unique vesting structure: SpaceX taxed employee RSUs on employment alone, pulling revenue forward and making IPO-day boom less dramatic.
Mitigation tools widespread: Employees now donate pre-IPO shares to donor-advised funds and use loans against equity to defer capital gains.
Tender offer impact: OpenAI’s $6.6 billion secondary sale already taxed gains early, spreading revenue unpredictably for state forecasters.
Historical benchmark: Facebook generated $1.3 billion at $104 billion valuation but current maneuvers likely trim immediate upside.
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Intel explodes 7% after Trump lands Apple U.S. manufacturing win
President Trump announced Apple will design and build chips with Intel in America, sending shares up sharply as the foundry business gains major customers amid AI and supply chain shifts.
Stock performance boost: Intel climbed 7% Thursday and 464% over past year to $608 billion market cap after years of struggle.
Broader commitments noted: Nvidia agreed first-level chips with Intel while Elon’s TerraFab project uses company technology for world’s largest factory.
Manufacturing revival: CEO Lip-Bu Tan drew Trump administration investment helping counter Taiwan dominance and Middle East disruptions.
Semiconductor index rise: Sector benchmark up 90% this year as AI insulates from oil price volatility.
Gas prices crash below $4 after Iran breakthrough opens Hormuz route
Average gasoline fell to $3.99 Thursday, extending 28 straight days of declines, as Trump’s Iran agreement eases fears of prolonged Strait of Hormuz closure that once disrupted 20 percent of global oil.
Historical comparison: Prices remain 30% above pre-war levels from February 28 attack and retaliation that halted tanker traffic.
Navy assistance role: U.S. forces escorted tankers through the Strait since May while deal signals gradual export recovery.
Longest decline streak: Drop from May 21 peak of $4.56 matches longest run since November 2023.
Supply impact scale: Hormuz previously carried one-fifth world oil before Tehran’s commercial ship attacks triggered largest disruption ever.
Hollister and Target team up to grab huge $89 billion college cash wave
Abercrombie’s youth brand launches 60-item dorm and apparel collection at Target stores and online June 28, expanding beyond clothing into home goods to tap $12.8 billion furnishings slice of college shopping.
Collaboration details: Joint designs cover men’s and women’s apparel plus bedding with Target handling manufacturing through 2027 seasons.
Growth strategy shift: Hollister seeks lifestyle status and new customers via Target’s footprint amid discretionary spending slowdown.
Market size context: Last year’s back-to-college total hit $88.8 billion with furnishings second only to electronics.
Future evolution: Plans include blankets, plush and seasonal dorm refreshes for 13-to-22 demographic.
Porsche just turned Toy Story’s Woody Buzz and Jessie into real 911s
At the Los Angeles premiere, Porsche unveiled three custom 911 models inspired by iconic characters, created by its Sonderwunsch team and auctioned to benefit children’s charities including Big Brothers Big Sisters.
Specific model features: Buzz GT3 RS gets space-ranger colors and “To Infinity and Beyond” sills while Jessie Targa features new white metallic paint and “YEE HAW!” accents.
Woody design touches: Carrera T mimics denim jeans texture with vintage leather and “Ride Like the Wind!” sill guards.
Charity focus: Proceeds support American Red Cross, Starlight Children’s Foundation alongside collaboration with Pixar’s original Buzz designer.
CEO excitement shared: Timo Resch highlighted childhood nostalgia and joy for families in need through the milestone film tie-in.
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Why wouldn’t you support people who work hard,take all the risk and create jobs while we have multi million dollar politicians who use insider trading and payoffs from cronies to amass great wealth.most of these billionaires took a chance on themselves while people like me trudge through life clocking in to work for them,I ain’t mad at em,I needed a job
Shocking poll? I would bet that how the question was asked would make a difference. Musk is amazing and works hard t make things better. If the question was asked about Bill Gates I doubt there would be the huge positive response. Gates build a company on stolen product. Gates bought and closed competitors and hired away people from competitors not to make Microsoft better but to hurt competition. He used dubious means to lock customers into his products, not because they were better. Musk is great for the world, Gates is still tying to reduce the world population by any means necessary.