International News
Elon Musk Breaks Record With $600bn Net Worth Milestone
Elon Musk has shattered global wealth records after becoming the first person in history to surpass a net worth of $600 billion, with Forbes now estimating his fortune at $677 billion.
The historic milestone is largely fueled by the dramatic rise in the valuation of Musk’s private space exploration company, SpaceX.
Earlier this month, the company completed a tender offer that valued it at $800 billion, doubling its previous valuation of $400 billion recorded in August, according to investors familiar with the transaction.
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Musk holds approximately 42 per cent ownership in SpaceX, and the revised valuation alone added an estimated $168 billion to his personal wealth.
Forbes now values his SpaceX stake at $336 billion, making it his single most valuable asset.
The tender offer has also intensified speculation around a potential SpaceX initial public offering (IPO) in 2026.
Analysts believe such a move could value the company at up to $1.5 trillion, potentially positioning Musk as the world’s first trillionaire if market conditions remain favorable.
Beyond SpaceX, Musk’s wealth is supported by his 12 per cent stake in electric vehicle giant Tesla, currently valued at about $197 billion.
His controversial Tesla stock options from a 2018 CEO performance deal—voided by a Delaware court in January 2024—are estimated to be worth $69 billion, pending the outcome of an appeal.
Musk’s artificial intelligence firm, xAI, has also emerged as a major contributor to his fortune.
The company is reportedly raising funds at a valuation of $230 billion, more than double its earlier valuation following its merger with social media platform X.
Musk owns 53 per cent of xAI, with his stake valued at roughly $60 billion.
According to Forbes, Musk now leads the world’s second-richest person, Google co-founder Larry Page, by an estimated $425 billion, placing him closer to a $700 billion net worth than to losing his position at the top of the global rich list.
International News
DOJ Confirms Federal Criminal Investigation After Agents Raid Ilhan Omar’s Home
Federal agents raided the Washington, D.C., home of Democratic Congresswoman Ilhan Omar early Monday morning as part of an ongoing federal criminal investigation, the United States Department of Justice (DOJ) has confirmed.
Homeland Security Investigations agents arrived at the Minnesota congresswoman’s residence at about 6:00 a.m. Eastern Time, according to a report by Fox News.
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The report said both the Department of Homeland Security (DHS) and the DOJ are involved in the investigation.
A DOJ spokesperson confirmed the operation, stating: “Today in the Washington, D.C. area, Homeland Security Investigations executed a judicially authorized search warrant secured by the Department of Justice.”
The spokesperson added: “This enforcement action is part of an ongoing federal criminal investigation.”
Details later……….
International News
Bangkok Underwater: Nearly 4,900 Evacuated as Floods Hit Thailand Capital
Heavy rains have triggered severe flooding across parts of Bangkok, Thailand, forcing nearly 4,900 residents to evacuate to shelters as floodwaters swept through roads and residential areas.
The flooding has disrupted movement across parts of the Thai capital, with motorists and pedestrians forced to navigate submerged roads and seek alternative routes.
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According to the Bangkok Metropolitan Administration, about 52,000 households have been affected by the flooding, prompting authorities to declare a flood disaster and intensify emergency response efforts.
Emergency teams have been deployed to assist affected communities and move residents from vulnerable areas to safer locations as water levels rise.
Bangkok is accustomed to seasonal heavy rainfall, but intense downpours can overwhelm drainage systems, particularly in low-lying areas, resulting in widespread flooding and disruption.
Authorities are continuing to monitor affected locations while coordinating evacuations and other emergency measures.
For thousands of residents, the immediate priority remains securing safe shelter and protecting homes and livelihoods as authorities work to manage the situation and restore normal activities once the floodwaters recede.
International News
‘They Are Dying’ — Trump Explains Why He Rejected Iran’s Hormuz Proposal
US President Donald Trump has explained his decision to reject Iran’s latest proposal to reopen the Strait of Hormuz, saying Tehran was seeking an agreement because it was losing revenue.
Speaking to reporters at the White House, Trump said Iran wanted to immediately reopen the strategically important waterway but argued that the proposal was not acceptable to his administration.
“They want to make a deal, and I think that’s fine. I like making a deal, too, but that deal would not be acceptable,” Trump said.
SEE ALSO: How the Strait of Hormuz Attack Could Trigger a Fresh Global Oil Shock
According to the US president, Iran’s push to reopen the strait was driven by the economic pressure it was facing.
“What they want to do is immediately open the Hormuz Strait. Do you know why? Because they are dying,” Trump said.
“You know why they’re dying? Because they have no money coming in, because they get their money from the Hormuz Strait.”
Trump also claimed that the US had established an unprecedented naval blockade against Iran, describing it as “a wall of steel.”
“So they outsmarted themselves. We put up the greatest blockade ever in military history. It’s a wall of steel,” he said.
“And guess what? They don’t have any money now because they wanted to close the strait.”
The Strait of Hormuz is a major global energy shipping route, and disruption to traffic through the waterway has significant implications for international oil markets and countries that depend on energy imports.
Trump’s remarks came amid continued tensions between Washington and Tehran over the reopening of the strategic waterway and negotiations involving Iran.





