The proposed merger between SpaceX and Tesla would be extremely dilutive for SpaceX shareholders: the company, valued at 2.14 trillion dollars, would need to issue shares equivalent to 92% of those outstanding to absorb Tesla, valued at 1.98 trillion dollars after a 30% premium, increasing its share count from 13.1 billion to 25 billion. Tesla generated just 3.28 billion dollars in net income over the past four quarters while SpaceX’s profits are growing, meaning nearly half of future earnings would go to Tesla’s selling shareholders. Global markets sold off as the conflict with Iran and attacks on shipping in the Strait of Hormuz worsened, pushing oil to 112 dollars a barrel, while Bitcoin fell to 81,922 dollars and the French 10-year government bond yield reached 5.1%. ING believes British Prime Minister Andy Burnham could call a snap election in 2027, while childcare costs now exceed 2,000 dollars a month for 7.7% of American parents. OnlyFans also plans to introduce financial services for its 2.5 million creators and is considering an initial public offering after generating 1.55 billion dollars in revenue in 2025.
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