SpaceX Soars 25% in Wall Street Debut and Makes Elon Musk the First Trillionaire
- On Wednesday, President Donald Trump declared, "I love the inflation" during an Oval Office signing ceremony after a reporter asked about the Labor Department report showing consumer prices up 4.2 percent.
- Sweeping tariffs imposed in April 2025 and an unapproved war on Iran are driving inflation higher, with Iran's closure of the Strait of Hormuz choking off one-fifth of the world's oil supply and pushing gas prices above $4 a gallon.
- Consumer prices rose 4.2 percent in May 2026 from a year earlier, pressuring household finances as families dip into savings to cover essentials like electricity, which rose 5.9 percent in the past year.
- Former Congresswoman Marjorie Taylor Greene called Trump's remark "absolutely outrageous," while critics accused the administration of applying a double standard after Republicans blamed inflation on the White House during the Biden administration.
- Economists warn that core service costs continue rising faster than the Federal Reserve's 2 percent target, though headline inflation could cool if the Iran war ends and energy prices decline.
522 Articles
522 Articles
SpaceX IPO Makes Elon Musk the World's First Trillionaire
Few business leaders have been as deeply embedded in popular culture as Elon Musk, the ambitious entrepreneur who has become a central figure in internet culture and amassed a fortune that has made him the world’s first trillionaire. At a time when concerns about inequality are high and public attitudes toward the ultra-wealthy have soured, Musk has managed to retain a loyal following despite his stratospheric net worth and without the folksy pe…
What a Trillion Dollars Tells Us About Who Really Runs the World
Elon Musk is set to become the world’s first trillionaire today after the public debut of his rocket and AI company, SpaceX. Sit with that number for a moment. A trillion dollars. If you spent a million dollars every single day, it would take you two thousand seven hundred years to spend down a trillion. [...]
Inflation hits 3-year high, Wall Street rallies and Musk becomes a trillionaire
The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store or gas station are more painful than they were last year, and rising costs are impacting the decisions of both households and businesses. Here’s a snapshot of prominent economic data and news that occurred over the past week and what it potentially means for you. Elon Musk becomes the world’s first …
Associated Press News
America In Focus: Inflation hits 3-year high, Wall Street rallies and Musk becomes a trillionaire
Rising gas prices pushed inflation to its highest level in three years, new data showed this week, a headache for the Federal Reserve and a potential political challenge for the Trump administration as midterm elections near.
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