SpaceX is poised to raise up to $75 billion in its initial public offering this month, a move that would mark the largest-ever stock market debut and could propel Elon Musk to become the world’s first trillionaire.

The company, formally known as Space Exploration Technologies Corp., announced Wednesday it plans to sell 555.6 million shares at $135 a piece.

This offering would value SpaceX at $1.77 trillion, a market capitalization surpassed by only six S&P 500 companies, including Nvidia at $5.2 trillion.

Musk will not sell any shares, retaining 82.4% of SpaceX’s voting power. Forbes values his net worth at $825 billion, with his $542 billion SpaceX stake.

The estimated IPO proceeds would easily top the $26 billion raised by Saudi Aramco in 2019.

SpaceX filed to go public last month, unveiling $13 billion worth of losses since 2023, according to a filing with the US Securities and Exchange Commission (SEC), including a $4.3 billion loss since the start of the year.

Since its inception in 2002, SpaceX has ascended to become the globe’s largest space enterprise, primarily through the deployment of thousands of Starlink internet satellites.

Its pioneering adoption of reusable rockets has fundamentally altered the economics of space travel, compelling rivals like Jeff Bezos’ Blue Origin to accelerate their own advancements.

While SpaceX initially gained prominence for its rocket manufacturing and satellite launches, the majority of its $18.67 billion revenue last year stemmed from its Starlink satellite internet service.

Much of its projected future growth is now tied to artificial intelligence-related ventures, though its nascent xAI unit is currently operating at a loss, according to the recent filing.

Earlier this year, some of the major stock market indexes, including the Nasdaq where SpaceX will soon be available, changed their rules to allow high-value companies to join much quicker than normal after going public.

SpaceX stock is expected to be available on the Nasdaq beginning June 12, under the ticker “SPCX,” according to Reuters.

Megan Walsh (Beth Nixon) is one of the most rotten individuals that has ever traipsed the cobbles of Coronation Street.

A deeply manipulative paedophile who grooms, isolates and deeply corrupts the children she predates upon and is utterly unrepentant in her actions, as she’s shown with Will Driscoll (Lucas Hodgson-Wale) and his friend, former victim, Lee (Oscar Aldersley).

A cold, vicious enemy to anyone who dares cross her, she waged mental warfare against Sam Blakeman (Jude Riordan) when he discovered her true nature, sabotaging his academic success and relishing in turning his attempts to expose her against him.

Although he did eventually divulge what he knew, she’s damaged him so badly he’s been left with deep trauma and has become psychologically unwell.

Even when exposed, she was capable of ensuring that Will didn’t confirm the truth to anybody, continuing her sick grooming while attempting to plan her own escape to another country alone, despite promising that she’d take him with her and they’d be together.

It was an unlikely intervention from Tim Metcalfe (Joe Duttine) that saw Will finally listen to reason, when Tim used his own experience of sexual abuse to open his eyes to what Megan had truly done to him.

As he attempted to flee alongside her, Tim gave him the option of either absconding with Megan and remaining under her thrall, or finally reporting her to the police, Will chose the latter.

Will has suffered since making the report, with the true scope of the damage Megan has done becoming evident.

An attempt at kindness from Bethany Platt (Lucy Fallon), herself a former victim of grooming quickly went awry when Will mistook it for a predatory act.

Next, he encountered a deeply unwell Sam, who called him sick and wished him dead.

Unaware of how much Sam is struggling, Will absorbs the cruel words before overhearing his dad, Ben (Aaron McCusker), worrying that Megan has destroyed him for life.

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Climbing some scaffolding while chugging from a bottle of vodka, the timely intervention of Asha Alahan (Tanisha Gorey), Hope Dobbs (Isabella Flanagan) and grandma Maggie (Pauline McLynn) ensured he was brought down to safety, before Megan re-appeared, having been released on bail.

She slipped her new number into his pocket, which he later put into his phone. Troubled as he is, though, his new friendship with Hope returns a smile to his face.

Next week, he tells her that he’s considering giving up athletics, fearing the pursuit will always remind him of Megan, but she’s quick to reassure him that he needs to continue.

The way she sees it, quitting would only reinforce Megan’s control over his life and it’d be a massive shame to squander his abilities.

Heartened, Will agrees with Hope.

Later in the week, he tells Hope he’s received a message from his friend, Lee, who’s visiting from Hull and wants to meet up.

As he waits for Lee, though, he’s absolutely shaken to turn around and see Megan, realising that she’s set him up.

With him at her mercy, what does Megan want? Is Will in danger?

MORE: Fire horror on Coronation Street as young child is trapped in a blaze

MORE: Surprise new Coronation Street romance blossoms – but not everyone is on board

MORE: Jodie utterly exposed in Coronation Street as a shocking truth explodes

Elon Musk’s SpaceX is about to become a public company – and the move could impact Americans’ retirement accounts, some experts have warned.

Last month, SpaceX unveiled plans to publicly sell its stock for the first time. The company’s initial public offering, expected June 12, is on track to be the largest in history at a projected $1.75 trillion and could put Musk on a path to becoming the world’s first trillionaire.

Earlier this year, some of the major stock market indexes, including the Nasdaq where SpaceX will soon be available, changed their rules to allow high-value companies to join much quicker than normal after going public.

That’s where Americans’ retirement accounts come in. Retirement account managers typically will invest in so-called index funds. Basically, those funds spread out money across a market such as the Nasdaq, so individual investors will have small amounts in lots of companies and not need to worry about trading stocks day-to-day. That means that millions of Americans could see portions of their 401Ks or other retirement accounts invested in the aerospace company founded by the world’s richest person.

In light of the SpaceX IPO’s accelerated timeline, that causes concern among some tech and finance experts.

SpaceX, which is currently valued at $1.25 trillion, lost about $4.9 billion in 2025, and another $4.3 billion in the first three months of 2026, according to The New York Times. Typically, when companies aren’t earning money it’s a bad sign for Wall Street and the stock will sell causing its price to go down.

A company’s stock prices also tend to be volatile immediately after a company goes public. The previous waiting periods, which were put in after the dot-com crash, helped protect investors against wild swings in a company or prove its profitability before being included in a small market such as the Nasdaq.

That could mean retirement account holders seeing losses if SpaceX faces either of these factors. While most individual investors would likely only have a small portion of their index fund invested in SpaceX, any loss would hurt their bottom line.

Corey McLaughlin, the editor of the Stansberry Digest, a daily investment research newsletter by the publishing firm Stansberry Research, warned that the effects will be felt widely.

“If you’re like us, you’re not planning to buy SpaceX shares in the [initial public offering]. But odds are, you’ll end up owning SpaceX anyway… if you own any index funds. And even if you don’t, you’ll have indirect exposure because of all the other people who do. Their behavior will move the entire stock market,” McLaughlin wrote in the company’s newsletter last week.

Randi Weingarten, president of the American Federation of Teachers, also wrote to the Securities and Exchange Commission last month, expressing concern about SpaceX’s “unsustainable valuation” and the potential impact on union members’ pensions and investments. The union represents 1.8 million workers and is among the largest in the country.

“That is why we are going to the SEC—there is nowhere else to turn. This is not just another [initial public offering]—it’s the largest in U.S. history, and it’s being rushed to market with a valuation that defies financial logic,” Weingarten said in a statement last month.

However other financial experts have said average Americans don’t need to be particularly concerned. Scott Richie, an investing expert at Stoculator, told Newsweek this SpaceX development is “neither a big positive nor a big danger” for most retirement account holders.

“You’ll own a little SpaceX the same way you already own a little of hundreds of companies you’ve never thought about,” Richie said.

“A small slice of any single company, up or down, won’t make or break your retirement,” he added.

SpaceX stock is expected to be available on the Nasdaq beginning June 12, under the ticker “SPCX,” according to Reuters. The company, which was founded in 2002 by Musk, designs, builds and launches rockets and spacecraft. In 2020, it became the first private company to take humans to the International Space Station.

The Independent has contacted SpaceX for comment.

Mr Doogan continued: “Keir Starmer appointed Peter Mandelson despite it being a matter of public record that he had maintained his relationship with Jeffrey Epstein, the world’s most notorious paedophile, and despite knowing that Mandelson had previously been forced to resign from government multiple times due to his role in numerous scandals.

A significant coastal development project in Albania, associated with Jared Kushner, son-in-law of US President Donald Trump, is encountering increasing opposition.

Albania’s government champions the Adriatic coast development as a transformative venture for the nation, aiming to boost its high-end tourism sector and support its bid for European Union membership.

However, the project, which encompasses an abandoned island and a stretch of seafront on Albania’s southern coast, has sparked criticism from environmental groups and detractors of the long-serving Socialist Prime Minister, Edi Rama.

Kushner and Ivanka Trump found the site on a barefoot hike

The luxury project has two components: a coastal development in the Narta Lagoon area, which is a wildlife reserve, and a smaller resort on the nearby uninhabited island of Sazan, a communist-era military base.

The planned development of hotels, apartments, villas and a marina is linked to Kushner and Trump’s daughter, Ivanka Trump.

In an interview this week with U.S. podcaster David Senra, Ivanka Trump said they discovered the site by accident.

“We were on a friend’s boat, and we stopped for a swim. Effectively, that’s how we found it,” she said. “We swam to the island. We went on a hike, barefoot all the way up to the top, and we were just captivated.”

An investment firm linked to Kushner has been granted special investor status by Albanian authorities.

Harsh rule, pristine beaches

Albania has 450 kilometers (280 miles) of coast that remained largely underdeveloped during decades of harsh communist rule.

Protest groups fear the sections of that pristine coastline could be snapped up by powerful investors. And public anger grew after video showed an activist being dragged by a private security guard while demonstrating at the site.

The development is planned within a nature reserve and one of Albania’s most valuable biodiversity areas, a key stopover for migratory birds along the Adriatic coast.

Protesters have carried cardboard cut-outs of pink flamingos, one of the protected migratory bird species, at rallies in the capital Tirana.

Since late May, excavators and other heavy machinery have entered the area, opening access routes, digging into the sand, clearing land among pine trees and installing fencing.

Environmental groups from Albania and elsewhere in Europe condemned the work, with one prominent local group charging that long-protected habitats are being “irreversibly destroyed.”

A multi-billion dollar bonanza?

Albania’s state anti-corruption agency has confirmed it opened an investigation related to the project but has not disclosed details.

The government says the land earmarked for the project is privately owned. But competing claims have emerged questioning the privatization — a common type of legal dispute.

Rama has committed to the venture, saying it would align with Albania’s ambition to become a major global tourism destination.

“Albania should not be a country that fears an extraordinary project like this one, where exceptional partners have come together to invest 4 billion euros ($4.6 billion),” Rama said.

He added: “There is no chance for this investment to stop as long as I am here.”

However, the demise of a similar project in Serbia offers a cautionary tale. In November, Serbia’s Parliament passed a special law to enable the building of a luxury complex in the capital, Belgrade, to be financed by an investment company linked to Kushner.

The following month, Serbia’s prosecutor for organized crime charged four people, including a government minister, with abuse of office and falsifying of documents to help pave the way for the development.

Kushner later withdrew from the planned multi-million investment that would have replaced a sprawling bombed-out military complex, a designated heritage zone whose legal protection was lifted by the former officials now on trial.

WASHINGTON (AP) — The Republican-led Senate is moving forward with legislation to fund immigration enforcement agencies after forcing the White House to drop its settlement fund for political allies and stripping a separate proposal for White House security from the bill.

The Senate voted 53-46 on Wednesday to begin debate on the roughly $70 billion bill to fund U.S. Immigration and Customs Enforcement and the Border Patrol. The legislation was delayed for weeks as Republican senators navigated the various obstacles to passage created by President Donald Trump and the White House, but they are now moving quickly to pass it after paring it back to its original form.

“Right now, the goal is to get the base bill across the finish line,” said Senate Majority Leader John Thune, R-S.D.

Still, Republicans will need to find enough votes to beat back multiple amendments that Democrats — and potentially some Republicans — say they will offer. Republicans are using a process called budget reconciliation that enables them to pass the legislation without any Democratic votes, but they must first wade through a long series of amendment votes that could pose problems for the bill. That process could start as soon as Wednesday evening.

Democratic amendments will test GOP unity

The primary threat during amendment votes is a series of expected Democratic proposals to permanently ban Trump’s $1.776 billion settlement fund, which his administration scrapped on Tuesday after fierce Republican pushback. While acting Attorney General Todd Blanche told Congress that “we are not moving forward with the fund, period,” Democrats say they want it written into the law.

“It is only a matter of time before Blanche and Trump go back on their word,” said Senate Minority Leader Chuck Schumer, D-N.Y.

Thune said Blanche’s comments were “extremely helpful” and he thinks most GOP senators were satisfied by the decision. “We’ll find out,” he added.

Republican Sen. John Kennedy of Louisiana said he was assured by Blanche’s promises.

“I think that particular issue is dead,” he said.

Some Republicans still have concerns about settlement

Not everyone is satisfied. Sen. Thom Tillis, R-N.C., has said he will offer an amendment to block any attempt at resurrecting the fund, which was part of a settlement resolving Trump’s lawsuit against the IRS over the leak of his tax returns.

Tillis said he has plans to offer an amendment to put Blanche’s promise into law.

“We’ve got a sufficient number of Republicans who have been very clear they’ve got concerns there,” said Tillis.

Thune said he is working with Tillis and others who have discussed amendments as he tries to ensure he has enough votes for a simple majority in the 53-47 Senate.

“Keep in mind, we’ve got to keep them all together, make sure we’ve got 50 votes for it,” Thune said.

Money dropped for Trump’s ballroom

The legislation was also delayed by the opposition to $1 billion in security funding for the White House, including for Trump’s new ballroom, that was added to the original bill.

Democrats and some Republicans questioned using taxpayer money for the massive project in a time of economic hardship for many voters. Democrats had planned amendments to strip that language, as well.

As various side issues temporarily derailed the legislation, Republicans have said their top priority is passing the ICE and Border Patrol funding that Democrats have blocked for months in protest of the administration’s immigration enforcement crackdown.

But success requires GOP unity in the Senate and the House before it can reach Trump.

Republican House leaders said Wednesday they would like to pass the bill before the end of the week, if the Senate can finish it. House Majority Leader Steve Scalise, R-La., said they are having internal conversations now to make sure they have enough support.

“We just need to make sure everybody’s there,” Scalise said.

___

Associated Press writer Lisa Mascaro contributed to this report.

Signs warning people about the possible disruption to a major city road have been put up across Cardiff

Drivers are being warned of disruption and told to allow extra time for their journeys in Cardiff city centre as major works to build a new tram system begin.

Cardiff Crossrail is a tram system which it is said will eventually run from Plasdwr in the north-west of the city, with the proposed new work on Parkway railway station in the east to start on Monday, June 15.

Work on the first phase, a tram-train route set to be built between Cardiff Central railway station and Cardiff Bay, will begin on June 15.

Although there will be no road closures during the first phase of the “very complex” works, there will be a reduction in traffic lanes on Callaghan Square so the site can be cleared and the contractor can begin diverting utilities beneath the carriageway.

There will be five stages of work, with different impacts on drivers each time. The first phase, until mid-July, will mean on Tresilian Way eastbound and westbound two of the three lanes will close. On Callaghan Square eastbound and westbound one of the three lanes will close.

Signs have already been put up in the city, with additional on-street signage being installed on roads approaching Callaghan Square later this week.

Motorists are advised to consider alternative routes while these works are underway:

• From the north, motorists are advised to use North Road, Boulevard de Nantes and Fitzalan Place
• From the east, motorists are advised to use Newport Road and Glossop Road
• From the south and west, motorists are advised to use the A4232 (Link Road) and Central Link

The first phase of the project is intended to link the city with the Bay and to provide a link for the new Cardiff arena currently under construction off Lloyd George Avenue.

Phase 1a of the scheme will deliver:

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• A new tram-train connection between Cardiff Central and Cardiff Bay via the new Loudoun Square railway station which is currently under construction
• New tram platforms at Cardiff Central railway station and an additional platform at Cardiff Bay railway station
• A new twin-track tramway through Callaghan Square
• A simpler road layout
• New pedestrian spaces, landscaping and sustainable drainage
• Fully segregated cycle routes and improved pedestrian crossings

Cardiff council cabinet member Dan De’Ath said: “This is a long-term investment in Cardiff’s public transport infrastructure and will play a key role in supporting major developments across the city, including the redevelopment of Cardiff Central railway station, the regeneration of Callaghan Square, the new indoor arena and the Atlantic Wharf redevelopment in Cardiff Bay.

“The vision for Cardiff Crossrail is clearly set out in the city’s 10-year transport vision. This is about building a greener, more sustainable and affordable transport system for the city.

“We would like to thank the public for their patience while we deliver these vital works. As the first phase of the Cardiff Crossrail will run through Callaghan Square, the work involved is very complex as significant work must take place to divert key utilities beneath the carriageway that serve businesses and residents in the city centre and beyond.”

Chief infrastructure officer from Transport for Wales Dan Tipper said this was an “important milestone” in the project. “We’re focused on creating modern, reliable and more sustainable ways for people to travel across the city,” he said.

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“Crossrail is a key part of our vision for a South Wales Metro that will support Cardiff’s continued growth, improve connectivity and provide greater choice for residents, businesses and visitors.”

Andrew Henry, from contractors GRAHAM, said: “Work starting on site is a crucial moment for the Cardiff Crossrail project which will fundamentally change how people move around the city.

“Callaghan Square is a busy working environment with significant utility diversions required beneath the carriageway before trackwork can begin.

“Our team has planned this carefully to keep disruption to a minimum, and we would ask road users to follow the signage in place and allow a little extra time for their journeys.”

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