Business
Elon Musk’s Net Worth Tops $800 Billion Again as SpaceX Shares Spike 11% Amid Broader Tech Rally
Elon Musk’s net worth climbed back above $800 billion Friday, driven by an 11.7% surge in SpaceX shares that came as part of a broader rally across tech stocks, according to Forbes’ real-time wealth tracker.
SpaceX’s stock rose to $129 a share shortly after 1 p.m. EDT, marking its highest point in three weeks. The jump pushed Musk’s estimated net worth to $802 billion in the afternoon, according to Forbes — a rebound that came less than two weeks after his fortune had fallen below $700 billion amid an earlier decline in SpaceX’s share price.
A volatile stretch for SpaceX stock
Friday’s rally followed a rough week for SpaceX shares. The rocket maker reported its earnings earlier in the week, and the results initially sent the stock lower after the company disclosed a sixfold increase in quarterly spending, according to Forbes’ earlier reporting.
Despite that spending spike, SpaceX’s underlying financial results beat expectations. The company reported $7.8 billion in quarterly revenue, topping Wall Street estimates of $6.9 billion, while its net losses narrowed sharply, dropping from $1 billion in the prior period to $541 million.
Where the spending is going
SpaceX’s capital expenditures reached $18.3 billion in its latest quarter, with $15.8 billion of that total — the vast majority — directed toward artificial intelligence investment, according to Forbes. Musk has said SpaceX expects its revenue could exceed $1 trillion as early as 2029, a timeline he has moved up by two years from his earlier projection. The company’s primary revenue driver remains its Starlink satellite internet service, whose turnover nearly doubled during the second quarter.
A broader rally, not just SpaceX
SpaceX wasn’t alone in Friday’s gains. Several other technology stocks also surged during the session, including Palantir, Cloudflare and Microchip Technology. Palantir shares traded up more than 9% around 12:30 p.m. EDT, while Microchip’s stock climbed as much as 14% during the day. The rally came in the wake of a weaker-than-expected jobs report that showed the U.S. economy lost 23,000 jobs in July, according to Forbes’ coverage of the broader market movement.
Musk’s wealth tightly tied to SpaceX’s fortunes
Musk owns roughly 38% of SpaceX, according to Forbes, a stake that closely links the trajectory of his personal net worth to swings in the company’s stock price. That connection has produced dramatic volatility in his wealth in recent months. Musk became the world’s first trillionaire in June, shortly after SpaceX went public, with his estimated fortune peaking as high as $1.45 trillion at its highest point, according to Forbes’ tracking.
Since then, Musk’s wealth has swung sharply in both directions as SpaceX shares have moved. His fortune dipped below $900 billion in mid-July as shares slid toward the company’s initial public offering price. It fell further, below $800 billion, following an aborted Starship launch later that month, and dropped below $700 billion by late July as the decline in SpaceX shares continued — a stretch during which Musk reportedly referred to himself as a “former” trillionaire, according to Forbes’ earlier reporting. Musk’s fortune then dropped further still earlier this week, losing roughly $80 billion in a single session, before Friday’s rebound pushed him back above the $800 billion mark.
Analysts remain broadly bullish despite the swings
Even amid the stock’s volatility, Wall Street analysts have largely maintained a positive long-term outlook on SpaceX. According to Forbes’ earlier coverage, Raymond James set an $800 price target on the stock last month, implying a market valuation well above $10 trillion, with analyst Brian Gesuale arguing the firm’s position reflected SpaceX “building the foundational platform for the next generation of industrial capacity.” Other brokers have set more conservative targets, with FactSet data showing an average analyst price target of $236 a share as of last month, including a $401 target from Arete Research, $300 from Morgan Stanley and $205 from Goldman Sachs.
Where Musk stands among the world’s wealthiest
Even during his fortune’s steepest recent declines, Musk has remained the world’s richest person by a wide margin, according to Forbes’ tracking. As of late July, he ranked well ahead of Google co-founders Larry Page, whose net worth stood at roughly $290.1 billion, and Sergey Brin, at approximately $267.6 billion.
Musk’s SpaceX holdings include roughly 4.8 billion shares along with another 350 million stock options, according to Forbes, in addition to his separate stake of roughly 700 million shares in Tesla, the electric automaker he also leads as chief executive.
A pattern likely to continue
Given how closely Musk’s reported net worth tracks SpaceX’s daily stock performance, further single-day swings of tens of billions of dollars remain likely in either direction as the company’s shares continue adjusting to its earnings results, spending plans and broader market conditions. Forbes’ wealth estimates are updated in real time based on stock prices and publicly disclosed holdings, meaning Friday’s $802 billion figure reflects a snapshot that could shift again as trading continues.
A sourcing note: every figure and detail above is drawn directly from Forbes’ original reporting and its related coverage of SpaceX’s recent stock swings — nothing was estimated or invented to fill gaps. Given how fast this figure moves day to day, it’s worth checking Forbes’ live tracker for the most current number before publishing.
Business
Inflation data to test record-setting US stocks, Fed rate views

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Bitcoin heads for 2% weekly gain as risk assets rally, Fed rate hike bets ease

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Business
Letterboxd Goes Down? Users Face Sunday Ongoing Sign-In Problems
Users of the film social network Letterboxd began reporting access problems Sunday morning, with outage-tracking service Downdetector logging complaints starting at 9:14 a.m. EDT and the hashtag #LetterboxdDown gaining traction on social media as frustrated users sought answers.
Downdetector, which aggregates real-time user reports to flag potential service outages, posted about the issue on X, asking users how the disruption was affecting them and linking to its live outage tracker for the platform.
What users are experiencing
Reports collected across multiple outage-monitoring services point to sign-in and login issues as the primary complaint among affected users. According to StatusGator, which monitors service health using a combination of issue reports, page visits and signal strength, the platform showed signs of a possible outage detected around 1:05 p.m. Eastern time Sunday, with the specific issue identified as “sign-in issues after unexpected logouts.”
Separately, outage-tracking site UpDownRadar collected numerous firsthand complaints from users across multiple countries describing difficulty accessing the service. Reports came in from locations including the United Kingdom, Germany, France, the Philippines and the United States, with users describing being unable to log in on both the Letterboxd website and its mobile app. One user’s comment, relayed through the tracker, described the outage lasting “like 3 hours,” while another described receiving an “internal server issue” message when attempting to load features like their watchlist or friends’ reviews.
A history of intermittent outages
Sunday’s disruption is not the first time Letterboxd has experienced service issues. According to StatusGator’s tracked incident history, the platform has faced several previous outages and login problems throughout 2026, including a reported service outage lasting just over three hours in May and separate login and page-loading issues in March and February. The platform has also experienced connectivity issues tied to third-party infrastructure providers in the past, though it was not immediately clear Sunday whether a similar underlying cause was responsible for the latest reports.
Mixed signals from automated monitors
Not all outage-tracking services detected the same severity of disruption. Automated monitoring service UptimeRobot reported that its most recent automated check, run at 1:02 p.m. GMT Sunday from North America, did not detect any unusual response times or error codes from Letterboxd’s servers. Similarly, status-tracking site Entireweb reported that Letterboxd was “operating normally” as of Sunday, citing 15 user reports over the previous 24 hours but none in the hour immediately preceding its check.
The discrepancy between automated uptime checks and user-submitted reports is common during intermittent or regionally concentrated outages, where a service’s core infrastructure may remain technically online even as specific features — such as user authentication or login sessions — experience disruptions for a subset of users.
About Letterboxd
Letterboxd functions as a combined movie database, personal film journal and social network, allowing its reported 17 million worldwide users to rate films on a five-star scale, write reviews, tag movies with relevant keywords, and maintain lists of films watched or planned to watch, according to Wikipedia’s overview of the platform. The service allows anyone to browse content without an account, though creating a profile is required to rate, review or otherwise interact with the platform’s social features.
The platform has faced security issues in the past as well. In March 2024, Letterboxd disclosed that it had suffered a data breach the previous month after a staff account was compromised, though the company said at the time that the breach affected “significantly less than 1% of all accounts,” according to Wikipedia.
What to do if you’re affected
For users currently experiencing issues, general troubleshooting steps recommended by outage-tracking services include trying to access the platform from a different browser, device or network — such as switching to a mobile hotspot — as well as clearing your device’s DNS cache, disabling any active VPN connection, or restarting your router. If the platform loads normally through an alternate connection, the issue is likely isolated to the original network rather than reflecting a broader, confirmed outage affecting all users.
As of this writing, Letterboxd had not issued an official public statement acknowledging the outage or providing a timeline for full resolution. The situation remains fluid, and Downdetector’s live tracker continues to log new user reports as they come in.
Business
Still Effectively Closed as Iran and Oman Near a Navigation Deal, for Now
The Strait of Hormuz remains effectively closed to commercial shipping as of Sunday, five months into a crisis that has cut off one of the world’s most critical energy chokepoints, even as Iran and Oman signal they are nearing an agreement on how to manage traffic through the waterway.
According to tracking data from the monitoring site straits.live, only two ships transited the strait on Aug. 2, compared with a pre-crisis baseline of roughly 73 transits per day — a stark illustration of how thoroughly the waterway has been shut down since the crisis began. The site’s independent assessment currently classifies the strait’s status as closed to commercial shipping.
A crisis now in its sixth month
The closure traces back to Feb. 28, 2026, when the United States and Israel conducted airstrikes on Iranian military targets, including the assassination of Iran’s Supreme Leader, Ali Khamenei, according to Wikipedia’s documented timeline of the conflict. In response, Iran closed the strait to all foreign shipping, with the Islamic Revolutionary Guard Corps transmitting warnings over VHF radio declaring that no ship would be allowed to pass. Britain’s Royal Navy said at the time that the closure was not legally binding, though it acknowledged that safety could not be guaranteed for vessels attempting to transit.
By early March 2026, the IRGC confirmed the strait was closed specifically to “unfriendly nations,” while continuing to allow Iran-approved vessels — largely petroleum shipments bound for China and India — to pass, sometimes under military escort.
The toll on shipping has been substantial. According to Wikipedia’s tally, the crisis has resulted in one tugboat sunk, at least 17 merchant ships damaged, two merchant ships captured, and 12 seafarers killed or missing, along with one port worker killed and two wounded in a related incident in Bahrain.
New Iranian demands complicate the path forward
Iran issued a fresh round of demands Saturday for what it would take to fully reopen the strait, according to reporting from NBC News based on Associated Press coverage. Iran’s Supreme National Security Council, in a statement delivered by council secretary Mohammad Bagher Zolghadr, said the waterway would not reopen until the United States “corrects its behavior” — a list of conditions that includes lifting the U.S. naval blockade of Iran, ending sanctions, withdrawing American military forces from the region, paying war reparations and unfreezing Iranian assets.
The statement came the same day the United Arab Emirates said one of its oil tankers, affiliated with the Abu Dhabi National Oil Company, was targeted by a missile while transiting the strait — an incident that underscored the continued danger facing commercial vessels even amid active diplomatic talks.
Progress with Oman, but caveats attached
Despite the hardened rhetoric aimed at Washington, Iran has signaled more constructive engagement with Oman, the Gulf Arab nation that has served as a mediator in the broader conflict and shares a border along the strait. Iranian Foreign Minister Abbas Araghchi said Saturday that talks with Oman over how to manage navigation through the waterway were “approaching the final stages,” according to CBS News.
However, Araghchi was careful to separate that progress from any broader reopening of the strait to international traffic. “This is not a sign of the reopening of the Strait of Hormuz,” he said, adding that full reopening remains “subject to other conditions and compensation for the violations” Iran attributes to the United States and its allies.
A U.S. military leadership seeking an exit
Behind the scenes, there are signs that top U.S. military officials are growing wary of further escalation. According to sources cited by CNN, the chairman of the Joint Chiefs of Staff has privately made clear that the United States needs to find an “off-ramp” from the broader war with Iran, warning that available military options to further escalate the conflict could backfire.
Separately, Israeli Prime Minister Benjamin Netanyahu vowed Sunday to prevent Iran from acquiring nuclear weapons, reiterating a long-standing goal regardless of how diplomatic talks between Tehran and Washington ultimately unfold, according to CBS News’ live coverage of the situation.
Economic fallout continues to mount
The prolonged closure has driven global energy costs sharply higher. According to tracking site Global Energy Flow, Brent crude settled up 9.59% on a recent Monday at $83.30 a barrel — its largest single-day gain in more than six years — and has traded as high as roughly $86 a barrel intraday since, putting prices about 19% above pre-war levels.
A Congressional Research Service report published by the Library of Congress noted that periodic Iranian attacks on shipping, combined with retaliatory U.S. strikes against Iran, have severely disrupted traffic through the strait for most of the past five months. The report also cautioned that even with Iran’s military capabilities diminished, the mere threat of future attacks could continue producing closure-like conditions if shipping companies conclude the risk of transiting the strait outweighs the potential benefit.
What would it take to fully reopen the strait
Based on Iran’s stated conditions, a full reopening appears contingent on a broader resolution to the underlying U.S.-Iran conflict rather than a standalone navigation agreement with Oman. Prior diplomatic efforts have repeatedly stalled: an April 7 ceasefire agreement between the U.S. and Iran, which President Trump said at the time was contingent on the “complete, immediate, and safe opening of the Strait of Hormuz,” broke down after Iran halted shipping traffic in response to separate Israeli attacks in Lebanon, according to the Congressional Research Service report.
For now, with roughly 20% of the world’s oil trade and a significant share of global liquefied natural gas normally passing through the strait before the crisis, the waterway’s continued closure remains a central pressure point shaping both regional diplomacy and global energy markets — with no clear timeline yet for when normal shipping traffic might resume.
Business
Charlamagne Tha God Explains Why Kevin Durant Ring-Chased but LeBron James Built Champions Everywhere
Radio host and media personality Charlamagne Tha God has weighed in on one of the NBA’s most persistent debates, arguing that LeBron James’ decision to join the Philadelphia 76ers should not be lumped in with Kevin Durant’s move to the Golden State Warriors nearly a decade ago, despite both being framed by critics as examples of “ring chasing.”
The comparison has resurfaced since James announced he was signing with Philadelphia, joining a roster that already features Tyrese Maxey and Jaylen Brown — both of whom averaged more than 28 points per game and earned All-NBA selections during the 2025-26 season — along with 2023 MVP Joel Embiid and rising young wing VJ Edgecombe. On paper, it’s a roster loaded with talent for a 41-year-old superstar chasing another championship late in his career.
Two very different paths to a stacked roster
Charlamagne Tha God laid out his case by contrasting the situations James and Durant walked into when they joined their respective new teams. When Durant signed with Golden State in 2016, he was joining a team that had already won a championship in 2015 and had posted the best regular-season record in NBA history, going 73-9, during the 2015-16 season. That Warriors team had also eliminated Durant’s Oklahoma City Thunder in the Western Conference Finals and came within one win of a second consecutive title before falling in the NBA Finals. The core of Draymond Green, Klay Thompson and Stephen Curry was already firmly established as a championship-caliber nucleus before Durant arrived.
James’ path, by contrast, involved joining teams that were far from championship contenders at the time. When he signed with the Miami Heat and helped lead the franchise to four consecutive NBA Finals appearances, Miami had been eliminated in the first round of the playoffs three times over the previous four seasons. When James later returned to the Cleveland Cavaliers, the franchise had missed the playoffs entirely in each of the four years he had been away. And when James led the Los Angeles Lakers to a championship in 2020, that franchise had missed the playoffs for six consecutive seasons beforehand.
‘That’s not ring chasing’
Charlamagne Tha God argued that this pattern — joining struggling franchises and turning them into contenders, rather than joining an already-established powerhouse — is what separates James’ latest move from Durant’s decision nearly a decade earlier.
“KD to Golden State is ring chasing because KD never won a ring anywhere and still hasn’t won a ring anywhere else. He went to Golden State because Golden State were champions and won two rings,” Charlamagne Tha God said. “LeBron has won everywhere he went; he has been the difference maker. So he goes to Philly, that’s not ring chasing.”
The framing positions James’ move to the 76ers as consistent with a career-long pattern, given that Philadelphia has not reached a Conference Finals appearance since 2001 — meaning James is, once again by this logic, joining a team he’ll need to help build up rather than one already positioned at the top of the league.
A perception shift already underway in Philadelphia
Beyond the historical comparison, Charlamagne Tha God’s broader point touches on how James’ presence has already reshaped outside expectations for the 76ers. Before James committed to signing with Philadelphia, the team was not widely regarded as an overwhelming championship favorite. His arrival has visibly shifted that perception across NBA media coverage.
James has also continued to demonstrate he can still influence winning basketball at an advanced stage of his career. During the 2026 playoffs, he averaged 23.2 points per game after being handed increased offensive responsibility following injuries to teammates Luka Doncic and Austin Reaves — a stretch that underscored his continued ability to take over games when circumstances demand it.
A different kind of role in Philadelphia
Unlike previous stops in his career, James isn’t expected to be the unquestioned primary option for the 76ers. Instead, his value in Philadelphia is expected to come from a more situational role — knowing when to take over offensively, when to defer to Maxey and Brown, and how to help stabilize the team when pressure mounts during high-stakes moments.
Should Embiid continue to face the injury issues that have limited him throughout much of his career, James’ role could shift further toward helping keep the team organized while developing Edgecombe and getting the most out of bench contributors such as Anfernee Simons and Dean Wade.
An ongoing debate among NBA fans and media
The comparison between James’ and Durant’s team-building paths remains a point of active debate among fans and analysts alike, with reactions to Charlamagne Tha God’s framing reflecting a broader divide in how people evaluate legacy-building moves late in a superstar’s career. Whether the distinction ultimately holds up may depend on how James and the 76ers perform together this coming season — and whether Philadelphia can translate its newfound star power into the deep playoff runs that have eluded the franchise for more than two decades.
Business
The Economy No Longer Stinks – But Stocks Have Already Sprinted Ahead (NYSEARCA:SPY)
Daniel Martins is the founder of independent research firm DM Martins Research. The firm’s work is centered around building more efficient, easily replicable portfolios that are properly risk-balanced for growth with less downside risk. His work has been featured on Seeking Alpha and other platforms through 2,000+ articles, and it has been cited by the New York Times, CNN, Reuters, USA Today, and others.- – -Daniel is the founder and portfolio manager at DM Martins Capital Management LLC, a macro strategy hedge fund (leveraged risk-parity approach that uses return stacking to achieve aggressive long-term capital appreciation). He is a former equity research professional at FBR Capital Markets and Telsey Advisory in New York City and finance analyst at macro hedge fund Bridgewater Associates, where he developed most of his investment management skills earlier in his career. Daniel is also an equity research and global equities market instructor for Wall Street Prep, where he has developed content and trained hundreds of senior and junior analysts at some of the largest bulge bracket investment banks and sovereign investment funds in the world.He holds an MBA in Financial Instruments and Markets from New York University’s Stern School of Business.- – -On Seeking Alpha, DM Martins Research has partnered with EPB Macro Research and collaborated with Risk Research, Inc.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of SPY, BTAL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
China Yuchai Stock: I Underestimated This Company (NYSE:CYD)
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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
Apple tests China’s CXMT memory chips for iPhones and MacBooks, WSJ reports

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Aflac: Reliable Dividend Compounder, Premium Justified, But Meaningful Upside Unlikely
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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
Iran says Oman deal is in ’final stages’ but US must act to open Hormuz

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