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Fortune
Fortune
Jim Edwards

Buried in SpaceX's IPO: a Tesla merger clue and a $3.75 billion insider windfall for friends and family

SpaceX Donald Trump Elon Musk
Elon Musk listens as reporters ask U.S. President Donald Trump and South Africa President Cyril Ramaphosa questions during a press availability in the Oval Office at the White House on May 21, 2025 in Washington, DC. (Credit: Photo by Chip Somodevilla/Getty Images)

Good morning. On Fortune’s radar today:

  • Elon Musk is planning a $3.75 billion windfall for SpaceX insiders .
  • Markets: Global selloff as traders cash out of tech stocks.
  • Ray Dalio: Yes, AI is a bubble. Get used to it.
  • Tomorrow’s jobs report could force the Fed to raise interest rates.
  • Trump signals restraint in Iran war.
  • We have a theory about the mysterious men sneaking in and out of New York’s sewers in the middle of the night .
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