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SpaceX Seeks $135 a Share for $75 Billion IPO, Reuters Says

SpaceX aims to sell 555.6 million shares at $135 apiece for its record-breaking $75 billion ⁠initial public offering, Reuters reported, citing an unidentified person familiar with the matter.

By Karen Leigh and David Morris

A $140 Billion Capital-Gains Tax Break Is Getting More Lucrative

At business breakfasts and investor lunches across the US, the topic du jour is a strategy pioneered in Silicon Valley to avoid paying taxes on billions of dollars of capital gains.

Trump to Drop $1.8 Billion Fund in IRS Deal, Keeps Tax Probe Ban

The Trump administration is moving to drop controversial plans for a $1.8 billion fund to pay victims of alleged government “weaponization,” but will still provide immunity from any probes into the president’s past tax filings under a deal agreed to last month.

Valve’s Antitrust Reckoning Has Echoes of Apple, Google Suits

Gabe Newell, the co-founder and president of the gaming company Valve Corp., spent a morning in November 2023 with a handful of lawyers at the Arctic Club Hotel in downtown Seattle, talking in circles. Newell’s company runs Steam, the dominant online store for PC games, and was facing a lawsuit filed by a set of independent game developers who claimed that Steam operated an illegal monopoly in the $40 billion industry. Because developers relied so heavily on Steam, the suit argued, Valve has been able to stymie competition and charge “supracompetitive” fees.

SpaceX Is Said to Plan Setting IPO Terms as Soon as Wednesday

SpaceX is planning to set the terms of its initial public offering as early as Wednesday afternoon, according to people familiar with the matter, ahead of what’s expected to be the biggest ever listing.

Fed’s Warsh Taps Conservatives Winfree, Heil as Advisers

Federal Reserve Chairman Kevin Warsh has hired conservative policy analysts Paul Winfree and Daniel Heil as temporary advisers, according to people familiar with the matter.

US Sanctions Iran’s Top Crypto Exchange in Ongoing Push for Deal

The Trump administration sanctioned Iran’s biggest cryptocurrency exchange and three other entities in a continued effort to pressure the Islamic Republic into a deal to wind down President Donald Trump’s war.

Rubio Defends Iran War, Ebola Response in Combative Hearings

Secretary of State Marco Rubio defended the US war effort in Iran, as well as the Trump administration’s global public health strategy amid a worsening Ebola outbreak, as he faced hostile questions from Democrats in two hearings before Congress on Tuesday.

Revolut Founder Is Building Launch Pad for a $76 Billion Fortune

In 2015, Nikolay Storonsky used about $500,000 he’d earned as a derivatives trader at Lehman Brothers and Credit Suisse to launch a startup intended to supplant the giants of global finance.