Finance

• SpaceX’s IPO Raises $75 Billion in Biggest Debut of All Time
  SpaceX has made history with the biggest-ever IPO, launching it into the top ranks of the largest public companies and putting founder Elon Musk on the verge of becoming the world’s first trillionaire.
• Financial Engineering Is Resembling Pre-Crisis Era, Pimco Warns
  The rapid expansion of complex credit structures is reminiscent of the buildup ahead of the global financial crisis, Pacific Investment Management Co.’s Dan Ivascyn warned.
• Ex-Moelis Banker Who Tipped Insider-Trading Ring Avoids US Jail
  A former Moelis & Co. investment banker was spared US prison time for tipping off members of a global insider-trading ring.
• Griffin Supercharges His Miami Bet After Mamdani Tax Fight
  Ken Griffin is expanding his bet on Miami.
• Hedge Funds Are Split Over How to Trade This AI-Fueled Market
  Even hedge funds are divided about whether to ride the artificial intelligence wave or position for a nasty stock-market correction.
• Brazil Bank Rocked by $1.2 Billion Withdrawal Says Worst Is Over
  Banco de Brasilia SA’s chief executive officer said the lender is poised to resolve its monthslong crisis set off by dealings with failed Banco Master SA, which triggered 6 billion reais ($1.2 billion) of customer withdrawals.
• Tech Investor’s $18 Billion Fundraising Haul Defies AI Fears
  Technology-focused Francisco Partners collected more than $18 billion for two private equity funds, capturing its biggest-ever haul despite a challenging time for buyouts.
• Mubadala Looks Past Private Equity Doom Loop to Hunt for Deals
  As private equity executives warn of capitulation on valuations amid a backlog of unsold assets and the Iran war unsettles the industry’s biggest backers, one Middle Eastern investor is finding opportunity.
• Drahi Is Squeezing His US Creditors Harder Than Ever
  If Patrick Drahi’s recent restructuring of his French telecoms business showed how far certain borrowers can squeeze their lenders, just look at what he is doing on the other side of the pond. The tycoon has pushed holders of $22 billion of debt in another of his companies into an extremely tight corner and once again the fine print may be on his side.
• Ron Baron’s SpaceX Wealth Fuels New York-Focused Philanthropy
  Ron Baron has spent decades making big bets on companies others doubted. His latest wager is on New York City.
• Todd Boehly’s Firm Expands in Miami Skyscraper for Billionaires
  Todd Boehley’s Eldridge Industries is expanding its Miami footprint, taking space at a trophy tower in the central business district that charges some of the city’s highest office rents.
• Pimco Sees Warsh Changing Fed Signals Without Silencing Them
  Bond investors will be watching next week’s Federal Reserve meeting for signs of how quickly new Chair Kevin Warsh moves to put his own stamp on the central bank, officials at Pacific Investment Management Co. said.
• Citigroup Set From Year’s First High-Grade Bonds
  Citigroup Inc.’s banking unit sold $6.25 billion of bonds in its first investment-grade offering of 2026.
• Jeff Bezos’ AI Startup Valued at $41 Billion in Funding Round
  Prometheus, an artificial intelligence startup led by Jeff Bezos, has raised a round of funding that values it at $41 billion, bolstering the Amazon.com Inc. founder’s status as a significant player in the AI boom.
• Apollo Is Screening All Software Investments for AI Threat Risk
  Apollo Global Management Inc. is assessing every new investment opportunity in the software industry for AI disruption risk, as asset managers try to quell investor concerns that rapid advances in the technology could make businesses obsolete.
• El Niño Slams Into a Global Economy Unprepared for More Chaos
• US Household Net Worth Posts Smallest Gain in a Year
  US household wealth rose in the first quarter by the least in a year as gains in real estate and other assets offset a decline in the value of stock holdings.
• ICE’s Warehouse Jails Could Overwhelm the Towns Forced to Accept Them
• Gen Z’s Latest Career Flex: A Boardroom Seat
• Reeves to Lower UK Tax Burden for Wealthy US Expats
  Chancellor of the Exchequer Rachel Reeves said she will ease the tax burden faced by rich US investors wanting to relocate to the UK.
• Oil Tanker Sailed Away From War With Unexploded Missile on Board
  The Indian Navy said it recovered an unexploded missile warhead from an oil supertanker that came under attack in the Gulf of Oman last month, a reminder of just how dangerous shipping has become in and around the Persian Gulf during the Iran war.
• SpaceX Treated as ‘Simply Too Risky’ for Funds With Governance Mandates
  The list of sustainability-focused fund managers opting to blacklist SpaceX is growing, as they contemplate the unprecedented level of control that Elon Musk will hold over the rockets-to-chatbot behemoth.