Good evening. Here’s the latest at the end of Friday.
Elon Musk becomes the world’s first trillionaireSpaceX, 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. On X, Musk posted nearly 500 times in the week before the I.P.O. In between encouraging investors to buy shares, he posted about politics, race and the culture wars. For more: If you own index funds, you could soon own part of SpaceX. Here’s how much.
The U.S. and Iran say they are close to a peace dealOfficials 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.
The White House prepares for a night unlike any beforeOn Sunday, Trump’s 80th birthday, the U.F.C. plans to host seven fights inside a cage on the South Lawn of the White House. Presidential historians say there are no parallels for such an event, which will take place under a towering claw just steps away from the Oval Office. A judge today rejected an effort to halt the fights. Thousands of fans are expected to be there, but forecasters warn that storms and heat could complicate the event. In other Trump administration news:
Scientists race to test Ebola treatmentsHealth 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. More top news
Remembering David HockneyDavid 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.) Hockney lived for many years in Los Angeles, and captured the sun-soaked atmosphere of the city as surely as anyone. He also was known for embracing technological innovations, like Polaroids, fax machines and iPhones, and for his madcap personal style.
TV shows to watch this summerOver 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. Prefer a movie? These are the films that got our critics talking.
Dinner table topics
Bake: These sesame and pistachio butter cookies are superbly tender. Find your next great book. These are the ones Times readers are most excited about. Stock your closet with these four suits. |
