markets

6/6/25

Elon Musk lost $33.9 billion in one day. Here’s what he could have bought instead of tweeting into self-immolation.

The world’s richest man, Tesla CEO Elon Musk, lost $33.9 billion (per Bloomberg) amid a full-blown public tantrum toward US President Donald Trump on Thursday that started with a disagreement over US debt and legislative priorities before escalating into not-thinly-veiled accusations of pedophilia.

Roughly $20 billion of Musk’s disappearing wealth comes from the cratering of shares of Tesla, which had its 11th-worst day on record yesterday.

$33.9 billion is a big number. If you can easily put it in perspective, congratulations; please invite me on one of your mega yachts. But for the rest of us...

That’s roughly as much as the Dallas Cowboys, Golden State Warriors, Los Angeles Rams, and New York Yankees franchises are worth combined, per Forbes’ 2024 annual list.
If, instead of tweeting, Musk just decided to send someone random all the money he’d end up losing on Thursday, that person would be the 55th-richest person in the world, per Bloomberg’s RICH <GO> list.
You could buy nearly 500,000 Cybertrucks. It’s unclear when you’d be able to take delivery, but that would definitely help Tesla’s forward earnings estimates inflect higher.
Musk has shown an interest in mixed martial arts. He’d probably have more flexibility to schedule a scrap with Meta’s Mark Zuckerberg (and line up a ref and some judges willing to score the bout favorably) if he bought TKO, the UFC owner with a market cap of about $33.4 billion.
$33.9 billion is nearly enough to account for all the cumulative net income that Tesla has generated over its history as a publicly traded company ($35 billion).

Musk-Trump isn’t the most costly divorce we’ve seen, though. Amazon’s Jeff Bezos settled with Mackenzie Scott for about $38 billion.

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Nia Warfield, Luke Kawa

S&P 500 goes nowhere, Nasdaq 100 hits another record, small caps tumble

Warner Bros. Discovery led gains for the second day in a row, and only three S&P 500 sector ETFs finished in the green.

Horse Ranch In Zhangye

markets

47m

Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Oracle Wall Street Revisions

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

Matt Phillips2h

markets

4h

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks.

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

markets

5h

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’s “big, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

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