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SpaceX's IPO raised $75 billion as it opened its doors to investors to purchase its stock. It is valued at approximately $2.1 trillion following its historic initial public offering on the US stock market. Volume is high, sentiment is euphoric, and the story is irresistible; both SpaceX and Elon Musk are creating history. Everybody wants a piece of the pie; that's the relatively easier part. What will be harder is to get out. The architecture of modern IPO is such that those who bought in early, the VCs, insiders, sitting at the top, are looking to offload that share and waiting for the payday. As veteran hedge fund manager and legendary former Fidelity portfolio manager George Noble puts it, “..your 401(k) is their exit liquidity.”<h2>SpaceX balance sheet&nbsp;</h2>According to the S-1 filing of the company, SpaceX generated $18.67 billion in revenue in 2025, while posting a GAAP net loss of $4.94 billion in the same year. Operating loss was $2.59 billion for the same year. These losses are not shrinking; in Q1 2026 alone, the operating loss hit $1.94 billion. The AI division is where the money disappears. The xAI segment posted a $6.35 billion operating loss in 2025. Capital expenditure for the xAI segment posted a $6.35 billion operating loss in 2025. Capital expenditure for xAI in Q1 2026 alone was $7.22 billion. This is 76 per cent of all Capital expenditure across the company in one quarter. Starlink is the only genuinely profitable business that has been subsidising these losses for months. The cumulative losses in the company's history now sit at $41.3 billion.The company has a total of $29.1 billion in debt, $15.85 billion in cash, which means it has an over $13 billion hole on a net basis, before accounting for the fact that it is burning $9 billion every quarter, and the company has priced its stock at the opening at $135. For context, only three US companies currently trade above $2 trillion: Apple, Microsoft, and Nvidia. All three are profitable. SpaceX joined that valuation tier on day one while losing nearly $5 billion a year. It is not just selling a product; it's selling AI and a futuristic tech narrative, an idea of Elon Musk's cult of personality.&nbsp;The architecture of the IPO becomes further hard to ignore because just before the filing, SpaceX struck two deals. One with Google and another with Anthropic. The Anthropic deal was before the S-1 filing, while the deal with Google was between the filing and the start of trading. Google agreed to pay $920 million per month for access to roughly 110,000 Nvidia GPUs housed in SpaceX data centres. Anthropic agreed to pay $1.25 billion per month for the Colossus 1 facility in Memphis. Point to note that both deals include termination clauses allowing either party to exit with just 90 days' notice after December 31, 2026. Together, that is $2.17 billion each month, ie, roughly $26 billion annualised revenue.<h2>Fastrack Indexing&nbsp;</h2>This is the most controversial part of the IPO, which many financial analysts are terming as legalised and institutionalised extraction of wealth from one segment of the crowd to another. Shortly after the high-profile IPO, index inclusion kicks in. Because Nasdaq and FTSE Russell fast-tracked SPCX into their major indexes in record time of 15 and 5 days, respectively. &nbsp;Passive index funds and ETFs are legally obligated to buy billions of dollars worth of the stock. Not because any fund manager made a judgment call. Because the rules say they have to.&nbsp;This creates an artificial demand surge that has nothing to do with the company's fundamentals; all pension funds and 401k's which follow the index have to buy in. The price goes up, and retail investors who got in early feel validated. The venture capitalists and insiders wait patiently for the clock to run out.<h2>SpaceX IPO risk factors</h2>According to foundational research on IPO long-run performance by Jay Ritter at the University of Florida, who has covered IPOs since the 1970s, buying at the first-day close, the realistic entry point for retail investors, puts buyers at a structural disadvantage. Investors who buy at the offer price see a three-year market-adjusted return of approximately negative 3.3 per cent. Investors who buy at the first-day close, after the typical day-one pop, start from negative 20.5 per cent.According to Ritter's data, SpaceX sits at the intersection of several risk factors which predicts long term performance. SpaceX’s price-to-sales ratio at the IPO valuation is approximately 94 times. According to Ritter's data set, IPOs with price-to-sales ratios above 40 times have trailed the market by 58 percentage points over three years, despite averaging a 93.6 per cent first-day gain. SpaceX float is 4.3 per cent, while Ritter suggests that floats with less than 5 per cent have a near-perfect record of underperforming in three years since 1980. If the company is unprofitable, then its return is -0.5 per cent. SpaceX is operating at a massive loss. If companies are going public in high-volume years fare worse. The 2026 IPO wave, with SpaceX, OpenAI, and Anthropic together targeting more than $240 billion in combined raises. If the IPO is a first-day pop its a negative sign. The argument in support of SpaceX is that it has a $18.7 billion in real revenue, which is more than Ritter's threshold of $100 million. It has a 33 per cent year-on-year growth, and holds near-monopoly positions in commercial launch and satellite broadband, which reduces the risk but does not eliminate it.&nbsp;Also Read: <a href="https://www.wionews.com/world/trump-ai-executive-order-voluntary-safeguards-silicon-valley-lobbying-1780571935288">Is it Wall Street vs Silicon Valley - Trump's AI regulation a battle within populists</a><h2>The structural freeze</h2>The S-1 filing states that the sale is limited to SpaceX as an entity. This means that no existing holder, venture fund, early employee, or institutional investor is selling a single share as part of the offering. Every dollar of the $75 billion goes to the company. This guardrail is true for day one. While on the surface it has a 180-day lockup period, &nbsp;the underlying prospectus actually engineered an unusually aggressive, staggered unlocking schedule. Insiders and early venture capitalists become eligible to dump up to 20 per cent of their shares just 6 to 8 weeks after launch, and an additional 10 per cent can be dumped if the stock price stays 30 per cent above its IPO price. Five separate tranches can be dumped on 70, 90, 105, 120, and 135 days, specifically, the time index funds are purchasing the stock. That sounds like investor protection. It is not. It is an orderly queue.The lockup exists not to protect but to prevent a chaotic sell-off that would crater the price before the market fully absorbs retail demand. When retail investors have every legal right to sell directly into the enthusiasm they created, it is structurally painful; many retail platforms impose their own holding restrictions and flipping penalties, fees or restrictions triggered when you sell a newly issued IPO share too quickly. Platforms like Fidelity, Robinhood, and Charles Schwab would freeze investors' ability to participate in future IPOs. While others make the process of selling so cumbersome, with delayed execution, wide spreads, and limited order types during high volatility, that by the time one retailer can sell, the price has already moved against the market.&nbsp;Democratic Senator Elizabeth Warren explicitly warned the SEC that this structure could prove "disastrous" for retail investors. What is happening is that the regulations are being loosened for early investors to take their paycheck, and then the door is being shut off as retail investors hold the bag.&nbsp;

SpaceX's historic IPO has propelled the company to a $2.1 trillion valuation, but analysts warn that heavy losses, insider lockups and forced index buying could pose risks for retail investors.

SpaceX's IPO raised $75 billion as it opened its doors to investors to purchase its stock. It is valued at approximately $2.1 trillion following its historic initial public offering on the US stock market. Volume is high, sentiment is euphoric, and the story is irresistible; both SpaceX and Elon Musk are creating history. Everybody wants a piece of the pie; that's the relatively easier part. What will be harder is to get out. The architecture of modern IPO is such that those who bought in early, the VCs, insiders, sitting at the top, are looking to offload that share and waiting for the payday. As veteran hedge fund manager and legendary former Fidelity portfolio manager George Noble puts it, “..your 401(k) is their exit liquidity.” SpaceX balance sheet According to the S-1 filing of the company, SpaceX generated $18.67 billion in revenue in 2025, while posting a GAAP net loss of $4.94 billion in the same year. Operating loss was $2.59 billion for the same year. These losses are not shrinking; in Q1 2026 alone, the operating loss hit $1.94 billion. The AI division is where the money disappears. The xAI segment posted a $6.35 billion operating loss in 2025. Capital expenditure for the xAI segment posted a $6.35 billion operating loss in 2025. Capital expenditure for xAI in Q1 2026 alone was $7.22 billion. This is 76 per cent of all Capital expenditure across the company in one quarter. Starlink is the only genuinely profitable business that has been subsidising these losses for months. The cumulative losses in the company's history now sit at $41.3 billion. The company has a total of $29.1 billion in debt, $15.85 billion in cash, which means it has an over $13 billion hole on a net basis, before accounting for the fact that it is burning $9 billion every quarter, and the company has priced its stock at the opening at $135. For context, only three US companies currently trade above $2 trillion: Apple, Microsoft, and Nvidia. All three are profitable. SpaceX joined that valuation tier on day one while losing nearly $5 billion a year. It is not just selling a product; it's selling AI and a futuristic tech narrative, an idea of Elon Musk's cult of personality. The architecture of the IPO becomes further hard to ignore because just before the filing, SpaceX struck two deals. One with Google and another with Anthropic. The Anthropic deal was before the S-1 filing, while the deal with Google was between the filing and the start of trading. Google agreed to pay $920 million per month for access to roughly 110,000 Nvidia GPUs housed in SpaceX data centres. Anthropic agreed to pay $1.25 billion per month for the Colossus 1 facility in Memphis. Point to note that both deals include termination clauses allowing either party to exit with just 90 days' notice after December 31, 2026. Together, that is $2.17 billion each month, ie, roughly $26 billion annualised revenue. Fastrack Indexing This is the most controversial part of the IPO, which many financial analysts are terming as legalised and institutionalised extraction of wealth from one segment of the crowd to another. Shortly after the high-profile IPO, index inclusion kicks in. Because Nasdaq and FTSE Russell fast-tracked SPCX into their major indexes in record time of 15 and 5 days, respectively. Passive index funds and ETFs are legally obligated to buy billions of dollars worth of the stock. Not because any fund manager made a judgment call. Because the rules say they have to. This creates an artificial demand surge that has nothing to do with the company's fundamentals; all pension funds and 401k's which follow the index have to buy in. The price goes up, and retail investors who got in early feel validated. The venture capitalists and insiders wait patiently for the clock to run out. SpaceX IPO risk factors According to foundational research on IPO long-run performance by Jay Ritter at the University of Florida, who has covered IPOs since the 1970s, buying at the first-day close, the realistic entry point for retail investors, puts buyers at a structural disadvantage. Investors who buy at the offer price see a three-year market-adjusted return of approximately negative 3.3 per cent. Investors who buy at the first-day close, after the typical day-one pop, start from negative 20.5 per cent. According to Ritter's data, SpaceX sits at the intersection of several risk factors which predicts long term performance. SpaceX’s price-to-sales ratio at the IPO valuation is approximately 94 times. According to Ritter's data set, IPOs with price-to-sales ratios above 40 times have trailed the market by 58 percentage points over three years, despite averaging a 93.6 per cent first-day gain. SpaceX float is 4.3 per cent, while Ritter suggests that floats with less than 5 per cent have a near-perfect record of underperforming in three years since 1980. If the company is unprofitable, then its return is -0.5 per cent. SpaceX is operating at a massive loss. If companies are going public in high-volume years fare worse. The 2026 IPO wave, with SpaceX, OpenAI, and Anthropic together targeting more than $240 billion in combined raises. If the IPO is a first-day pop its a negative sign. The argument in support of SpaceX is that it has a $18.7 billion in real revenue, which is more than Ritter's threshold of $100 million. It has a 33 per cent year-on-year growth, and holds near-monopoly positions in commercial launch and satellite broadband, which reduces the risk but does not eliminate it. Also Read: Is it Wall Street vs Silicon Valley - Trump's AI regulation a battle within populists The structural freeze The S-1 filing states that the sale is limited to SpaceX as an entity. This means that no existing holder, venture fund, early employee, or institutional investor is selling a single share as part of the offering. Every dollar of the $75 billion goes to the company. This guardrail is true for day one. While on the surface it has a 180-day lockup period, the underlying prospectus actually engineered an unusually aggressive, staggered unlocking schedule. Insiders and early venture capitalists become eligible to dump up to 20 per cent of their shares just 6 to 8 weeks after launch, and an additional 10 per cent can be dumped if the stock price stays 30 per cent above its IPO price. Five separate tranches can be dumped on 70, 90, 105, 120, and 135 days, specifically, the time index funds are purchasing the stock. That sounds like investor protection. It is not. It is an orderly queue. The lockup exists not to protect but to prevent a chaotic sell-off that would crater the price before the market fully absorbs retail demand. When retail investors have every legal right to sell directly into the enthusiasm they created, it is structurally painful; many retail platforms impose their own holding restrictions and flipping penalties, fees or restrictions triggered when you sell a newly issued IPO share too quickly. Platforms like Fidelity, Robinhood, and Charles Schwab would freeze investors' ability to participate in future IPOs. While others make the process of selling so cumbersome, with delayed execution, wide spreads, and limited order types during high volatility, that by the time one retailer can sell, the price has already moved against the market. Democratic Senator Elizabeth Warren explicitly warned the SEC that this structure could prove "disastrous" for retail investors. What is happening is that the regulations are being loosened for early investors to take their paycheck, and then the door is being shut off as retail investors hold the bag.

SpaceX's historic IPO has propelled the company to a $2.1 trillion valuation, but analysts warn that heavy losses, insider lockups and forced index buying could pose risks for retail investors.

Trillion-dollar trap: Hidden risks behind SpaceX's blockbuster IPO that nobody wants to discuss

Iranian Foreign Ministry spokesperson Esmail Baghaei on Saturady (June13) said that the signing of the memorandum of understanding with the United States cannot be ruled out and that it can happen anytime soon but not on Sunday, reported the state media.&nbsp;'We will have to wait and see regarding the exact timing of signing the memorandum. Although it will not be tomorrow, the possibility that it will happen in the coming days cannot be ruled out. However, we must exercise extreme caution," said Baghaei.&nbsp;ALSO READ: <a href="https://www.wionews.com/world/iranian-supreme-leader-late-ayatollah-ali-khamenei-to-be-buried-on-july-9-reports-state-media-1781350008832">Iranian supreme leader late Ayatollah Ali Khamenei to be buried on July 9, reports state media</a>&nbsp;The statement by Iran's foreign minister comes after US President Donald Trump on Friday said that he believes a deal with Iran could be signed over the weekend or on Monday.&nbsp;He also said that Iran has agreed to give up its nuclear ambitions, stop pursuing nuclear weapons and open the Strait of Hormuz once the deal is signed. However, there hasn't been any comments from Iran on this so far.<h2>US-Iran peace deal "closer than ever before".</h2>&nbsp;On the other hand Pakistani Prime Minister Shehbaz Sharif reiterated that a peace deal between US and Iran is "closer than ever before". He further said that a decision on the deal could come in the next 24 hours for which Pakistan is preparing for the electronic signing.&nbsp;Sharif took to X to write, "We are closer to a peace deal than ever before. With finalisation likely expected in the next 24 hours, Pakistan is preparing for the electronic signing of the peace deal immediately after, followed by technical level talks next week."&nbsp;He thanked US and Iran "for their ongoing commitment during the negotiations". Sharif expressed confidence that "this historic peace deal will form a strong foundation for lasting peace."

The statement by Irans foreign minister comes after US President Donald Trump on Friday said that he believes a deal with Iran could be signed over the weekend or on Monday.

Iranian Foreign Ministry spokesperson Esmail Baghaei on Saturady (June13) said that the signing of the memorandum of understanding with the United States cannot be ruled out and that it can happen anytime soon but not on Sunday, reported the state media. 'We will have to wait and see regarding the exact timing of signing the memorandum. Although it will not be tomorrow, the possibility that it will happen in the coming days cannot be ruled out. However, we must exercise extreme caution," said Baghaei. ALSO READ: Iranian supreme leader late Ayatollah Ali Khamenei to be buried on July 9, reports state media The statement by Iran's foreign minister comes after US President Donald Trump on Friday said that he believes a deal with Iran could be signed over the weekend or on Monday. He also said that Iran has agreed to give up its nuclear ambitions, stop pursuing nuclear weapons and open the Strait of Hormuz once the deal is signed. However, there hasn't been any comments from Iran on this so far. US-Iran peace deal "closer than ever before". On the other hand Pakistani Prime Minister Shehbaz Sharif reiterated that a peace deal between US and Iran is "closer than ever before". He further said that a decision on the deal could come in the next 24 hours for which Pakistan is preparing for the electronic signing. Sharif took to X to write, "We are closer to a peace deal than ever before. With finalisation likely expected in the next 24 hours, Pakistan is preparing for the electronic signing of the peace deal immediately after, followed by technical level talks next week." He thanked US and Iran "for their ongoing commitment during the negotiations". Sharif expressed confidence that "this historic peace deal will form a strong foundation for lasting peace."

The statement by Iran's foreign minister comes after US President Donald Trump on Friday said that he believes a deal with Iran could be signed over the weekend or on Monday.

Signing of Islamabad memorandum can happen in coming days, not on Sunday, says Iran

A light-hearted exchange between the Indian External Affairs Minister S Jaishankar and Finland's Foreign Minister Elina Valtonen has gone viral on social media, becoming one of the most talked-about moments from the Indian minister's visit to Finland. The exchange took place during a media briefing following bilateral talks between the two leaders. While discussing defence cooperation, Valtonen jokingly remarked that India and Finland had signed many deals.Also read: <a href="https://www.wionews.com/india-news/threads-of-cruelty-caught-between-heritage-livelihoods-and-animal-welfare-india-s-silk-dilemma-silkworms-1781255752527">India's silk dilemma: Caught between heritage, livelihoods and animal welfare</a>Responding with a smile, Jaishankar quipped, "You're not supposed to say that." The remark appeared to catch Valtonen by surprise and prompted laughter in the room. Her amused reaction quickly drew attention online after clips of the interaction began circulating across social media platforms.Also read: <a href="https://www.wionews.com/india-news/indian-air-force-aircraft-crashes-in-assam-s-jorhat-1781329601750">Indian Air Force aircraft crashes in Assam’s Jorhat, killing 5 personnel</a>Many users praised the camaraderie between the two ministers, with several highlighting Jaishankar's quick wit. Valtonen's reaction also became a focal point of discussion, with social media users describing the exchange as one of the more entertaining moments in recent diplomatic engagements.Also read: <a href="https://www.wionews.com/india-news/up-man-posing-as-army-brigadier-nabbed-in-shahjahanpur-sting-operation-1781323915975">NEET aspirant posing as fake Brigadier walks into Army trap in UP, arrested</a>Although Jaishankar's visit focused on discussions related to defence, security and international cooperation, it was the brief, humorous interaction that captured widespread public attention. The exchange with Valtonen was not the only occasion during the visit when Jaishankar's sense of humour drew notice.Also read: <a href="https://www.wionews.com/india-news/pm-modi-departs-for-high-stakes-france-slovakia-visit-set-to-participate-in-g7-summit-1781328015529">PM Modi departs for France, Slovakia visit; set to participate in G7 Summit</a>At another event, UAE Assistant Foreign Minister Lana Nusseibeh made a tongue-in-cheek reference to recent developments in West Asia, saying, "It's been a really quiet time in my part of the world.” Jaishankar responded immediately, "That's why you came here to Finland."Also read: <a href="https://www.wionews.com/india-news/fir-lodged-against-mamata-banerjee-over-inflammatory-speech-during-bengal-elections-1781278388410">FIR lodged against Mamata Banerjee for ‘inflammatory’ speech during Bengal polls</a>

A light-hearted diplomatic exchange went viral after Indian External Affairs Minister S. Jaishankar used quick-witted, humorous one-liners during interactions with the Foreign Ministers of Finland and the UAE.

A light-hearted exchange between the Indian External Affairs Minister S Jaishankar and Finland's Foreign Minister Elina Valtonen has gone viral on social media, becoming one of the most talked-about moments from the Indian minister's visit to Finland. The exchange took place during a media briefing following bilateral talks between the two leaders. While discussing defence cooperation, Valtonen jokingly remarked that India and Finland had signed many deals. Also read: India's silk dilemma: Caught between heritage, livelihoods and animal welfare Responding with a smile, Jaishankar quipped, "You're not supposed to say that." The remark appeared to catch Valtonen by surprise and prompted laughter in the room. Her amused reaction quickly drew attention online after clips of the interaction began circulating across social media platforms. Also read: Indian Air Force aircraft crashes in Assam’s Jorhat, killing 5 personnel Many users praised the camaraderie between the two ministers, with several highlighting Jaishankar's quick wit. Valtonen's reaction also became a focal point of discussion, with social media users describing the exchange as one of the more entertaining moments in recent diplomatic engagements. Also read: NEET aspirant posing as fake Brigadier walks into Army trap in UP, arrested Although Jaishankar's visit focused on discussions related to defence, security and international cooperation, it was the brief, humorous interaction that captured widespread public attention. The exchange with Valtonen was not the only occasion during the visit when Jaishankar's sense of humour drew notice. Also read: PM Modi departs for France, Slovakia visit; set to participate in G7 Summit At another event, UAE Assistant Foreign Minister Lana Nusseibeh made a tongue-in-cheek reference to recent developments in West Asia, saying, "It's been a really quiet time in my part of the world.” Jaishankar responded immediately, "That's why you came here to Finland." Also read: FIR lodged against Mamata Banerjee for ‘inflammatory’ speech during Bengal polls

A light-hearted diplomatic exchange went viral after Indian External Affairs Minister S. Jaishankar used quick-witted, humorous one-liners during interactions with the Foreign Ministers of Finland and the UAE.

‘That’s why you came here to Finland’: Jaishankar’s back-to-back one-liners go viral

The tragic story of Andres Escobar, the Colombian defender whose own goal at the 1994 FIFA World Cup was followed by his shocking murder. See the football's darkest chapter through this photo gallery

The own goal that ended in murder: The tragic story of Andres Escobar and 1994 FIFA World Cup

Pakistani Prime Minister Shehbaz Sharif on Saturday (June 13) reiterated that a peace deal between US and Iran is "closer than ever before". He further said that a decision on the deal could come in the next 24 hours for which Pakistan is preparing for the electronic signing.&nbsp;Sharif took to X to write, "We are closer to a peace deal than ever before. With finalisation likely expected in the next 24 hours, Pakistan is preparing for the electronic signing of the peace deal immediately after, followed by technical level talks next week."&nbsp;ALSO READ: <a href="https://www.wionews.com/world/iranian-supreme-leader-late-ayatollah-ali-khamenei-to-be-buried-on-july-9-reports-state-media-1781350008832">Iranian supreme leader late Ayatollah Ali Khamenei to be buried on July 9, reports state media</a>&nbsp;He thanked US and Iran "for their ongoing commitment during the negotiations". Sharif expressed confidence that "this historic peace deal will form a strong foundation for lasting peace."&nbsp;On Friday too Sharif had said that the deal is almost finalised and Pakistan is working with the U.S. and Iran to "finalize next steps."&nbsp;"we can confirm that a final, agreed upon text of the peace deal has been reached and Pakistan is now working closely with both sides to finalize the next steps. Peace has never been this close as it is now," he said.<h2>What is Trump saying about peace deal?</h2>&nbsp;US President Donald Trump late Friday night said that he believes a deal with Iran could be signed over the weekend or on Monday, reported NBC, citing the president’s interaction with Axios.&nbsp;Trump said the US would be represented by Vice President JD Vance in Europe. He also said that Iran has agreed to give up its nuclear ambitions, stop pursuing nuclear weapons and open the Strait of Hormuz once the deal is signed. However, there hasn't been any comments from Iran on this so far.&nbsp;

Sharif thanked US and Iran for their ongoing commitment during the negotiations and expressed confidence that this historic peace deal will form a strong foundation for lasting peace.

Pakistani Prime Minister Shehbaz Sharif on Saturday (June 13) reiterated that a peace deal between US and Iran is "closer than ever before". He further said that a decision on the deal could come in the next 24 hours for which Pakistan is preparing for the electronic signing. Sharif took to X to write, "We are closer to a peace deal than ever before. With finalisation likely expected in the next 24 hours, Pakistan is preparing for the electronic signing of the peace deal immediately after, followed by technical level talks next week." ALSO READ: Iranian supreme leader late Ayatollah Ali Khamenei to be buried on July 9, reports state media He thanked US and Iran "for their ongoing commitment during the negotiations". Sharif expressed confidence that "this historic peace deal will form a strong foundation for lasting peace." On Friday too Sharif had said that the deal is almost finalised and Pakistan is working with the U.S. and Iran to "finalize next steps." "we can confirm that a final, agreed upon text of the peace deal has been reached and Pakistan is now working closely with both sides to finalize the next steps. Peace has never been this close as it is now," he said. What is Trump saying about peace deal? US President Donald Trump late Friday night said that he believes a deal with Iran could be signed over the weekend or on Monday, reported NBC, citing the president’s interaction with Axios. Trump said the US would be represented by Vice President JD Vance in Europe. He also said that Iran has agreed to give up its nuclear ambitions, stop pursuing nuclear weapons and open the Strait of Hormuz once the deal is signed. However, there hasn't been any comments from Iran on this so far.

Sharif thanked US and Iran “for their ongoing commitment during the negotiations” and expressed confidence that "this historic peace deal will form a strong foundation for lasting peace."

US-Iran peace deal finalisation expected in next 24 hours: Pak PM Shehbaz Sharif

Elon Musk has officially become the world's first trillionaire after the blockbuster initial public offering of SpaceX, yet the billionaire entrepreneur continues to live in a modest 400-square-foot home in Texas.According to reports by Fortune and The Wall Street Journal, Musk crossed the historic financial milestone after SpaceX's record-breaking IPO on June 12, 2026, which valued the aerospace company at approximately $1.77 trillion as its shares surged in early trading. The listing significantly boosted Musk's wealth, adding to his vast holdings in SpaceX, Tesla and several other ventures.Despite his unprecedented fortune, Musk's living arrangements remain strikingly simple. Fortune reported that the billionaire primarily resides in a compact prefabricated home in Boca Chica, Texas, near SpaceX's Starbase facility, where the company is developing its next-generation Starship rocket.Also read: <a href="https://www.wionews.com/world/iranian-supreme-leader-late-ayatollah-ali-khamenei-to-be-buried-on-july-9-reports-state-media-1781350008832">Iranian supreme leader late Ayatollah Ali Khamenei to be buried on July 9, reports state media</a>The home, built by housing startup Boxabl and rented from SpaceX, includes a small living area, bedroom space, kitchen and a basic bathroom fitted with a tub-shower combination. Musk has previously described the residence as "kinda awesome", embracing its minimalist design and functionality.According to Fortune, the property reflects Musk's long-standing preference for simplicity and his focus on work rather than luxury. After relocating much of his business activity to Texas in 2020, Musk sold most of his California real estate holdings as part of a public pledge to "own no house". While companies linked to him reportedly own several larger properties in the affluent West Lake Hills area near Austin, ranging between 6,000 and 9,000 square feet and equipped with amenities such as swimming pools, Musk is said to spend most of his time at the smaller Boxabl unit close to SpaceX operations.Accounts from visitors and family members have further highlighted the sparse nature of the home. The Wall Street Journal reported that Musk's mother, Maye Musk, once remarked on social media after staying there that "there is no food in the fridge". She also recounted sleeping in a garage that had been converted into an additional bedroom and sharing a single towel during her visit.Also read: <a href="https://www.wionews.com/trending/did-cia-destroy-an-alien-message-newly-released-ufo-files-reveal-bizarre-1958-mystery-1781337303228">CIA destroyed an alien message? Latest UFO files revive bizarre 1958 mystery</a>Despite its modest size, the home includes practical features such as a Murphy bed, built-in storage, kitchen appliances and energy-efficient systems. Musk's lifestyle has long reflected his belief that material possessions can become distractions. The billionaire has previously spent extended periods sleeping at Tesla factories during critical production phases, including the Model 3 manufacturing ramp-up, arguing that his attention should remain focused on engineering challenges and his broader goal of advancing humanity's future beyond Earth. His choice to live in a tiny home, even after becoming the world's first trillionaire, continues to set him apart from many of the world's wealthiest individuals.

Elon Musk officially became the world's first trillionaire following SpaceX's historic June 2026 IPO, yet he chooses to reside primarily in a modest, 400-square-foot prefabricated Boxabl home in Texas.

Elon Musk has officially become the world's first trillionaire after the blockbuster initial public offering of SpaceX, yet the billionaire entrepreneur continues to live in a modest 400-square-foot home in Texas. According to reports by Fortune and The Wall Street Journal, Musk crossed the historic financial milestone after SpaceX's record-breaking IPO on June 12, 2026, which valued the aerospace company at approximately $1.77 trillion as its shares surged in early trading. The listing significantly boosted Musk's wealth, adding to his vast holdings in SpaceX, Tesla and several other ventures. Despite his unprecedented fortune, Musk's living arrangements remain strikingly simple. Fortune reported that the billionaire primarily resides in a compact prefabricated home in Boca Chica, Texas, near SpaceX's Starbase facility, where the company is developing its next-generation Starship rocket. Also read: Iranian supreme leader late Ayatollah Ali Khamenei to be buried on July 9, reports state media The home, built by housing startup Boxabl and rented from SpaceX, includes a small living area, bedroom space, kitchen and a basic bathroom fitted with a tub-shower combination. Musk has previously described the residence as "kinda awesome", embracing its minimalist design and functionality. According to Fortune, the property reflects Musk's long-standing preference for simplicity and his focus on work rather than luxury. After relocating much of his business activity to Texas in 2020, Musk sold most of his California real estate holdings as part of a public pledge to "own no house". While companies linked to him reportedly own several larger properties in the affluent West Lake Hills area near Austin, ranging between 6,000 and 9,000 square feet and equipped with amenities such as swimming pools, Musk is said to spend most of his time at the smaller Boxabl unit close to SpaceX operations. Accounts from visitors and family members have further highlighted the sparse nature of the home. The Wall Street Journal reported that Musk's mother, Maye Musk, once remarked on social media after staying there that "there is no food in the fridge". She also recounted sleeping in a garage that had been converted into an additional bedroom and sharing a single towel during her visit. Also read: CIA destroyed an alien message? Latest UFO files revive bizarre 1958 mystery Despite its modest size, the home includes practical features such as a Murphy bed, built-in storage, kitchen appliances and energy-efficient systems. Musk's lifestyle has long reflected his belief that material possessions can become distractions. The billionaire has previously spent extended periods sleeping at Tesla factories during critical production phases, including the Model 3 manufacturing ramp-up, arguing that his attention should remain focused on engineering challenges and his broader goal of advancing humanity's future beyond Earth. His choice to live in a tiny home, even after becoming the world's first trillionaire, continues to set him apart from many of the world's wealthiest individuals.

Elon Musk officially became the world's first trillionaire following SpaceX's historic June 2026 IPO, yet he chooses to reside primarily in a modest, 400-square-foot prefabricated Boxabl home in Texas.

‘No food in the fridge’: Why Elon Musk, world’s first trillionaire, lives in 400 sq ft home?

Over four months after Iran's supreme leader late Ayatollah Ali Khamenei was assasinated in a combined attack by the US and Israeli forces, his funeral will begin ‌in ⁠Tehran ⁠on July 4 and conclude with ​his burial in the ​northeastern city of Mashhad ⁠on July ⁠9, reported ⁠state media on Saturday.&nbsp;He will be laid to rest near the shrine of Imam Reza, fulfilling his wish of being buried next to one of Shia Islam's most revered figures.&nbsp;Khamenei, who ruled Iran for nearly 37 years was killed in Israeli and US airstrikes on February 28, the first day of the US-Israel-Iran war. His burial in his hometown, the northeastern holy city of Mashhad was initially scheduled for March but got postponed due to the war.&nbsp;ALSO READ: <a href="https://www.wionews.com/world/who-will-control-iran-s-enriched-uranium-us-says-washington-will-tehran-insists-on-its-right-to-enrich-1781334018831">Who will control Iran's enriched uranium? US says Washington will; Tehran insists on its right to enrich</a>&nbsp;The three-day funeral ceremony will begin in capital Tehran on July 4 and another in the holy city of Qom on July 7 with the burial happening in the ​northeastern city of Mashhad ⁠on July ⁠9, said the state media.&nbsp;Since Khamenei's assasination on February 28 in joint US-Israeli airstrikes on his office-cum-residence in Tehran there has been no news of Khamenei's body.<h2>US-Iran war coming to an end?</h2>&nbsp;Coming to the war, US President Donald Trump has said that he still believes a deal with Iran could be signed over the weekend or on Monday, reported NBC, citing the president’s interaction with Axios.&nbsp;Trump said the US would be represented by Vice President JD Vance in Europe. He also said that Iran has agreed to give up its nuclear ambitions, stop pursuing nuclear weapons and open the Strait of Hormuz once the deal is signed. However, there hasn't been any comments from Iran on this so far.&nbsp;

Ayatollah Ali Khameneis burial in his hometown, the northeastern holy city of Mashhad was initially scheduled for March but got postponed due to the war.

Over four months after Iran's supreme leader late Ayatollah Ali Khamenei was assasinated in a combined attack by the US and Israeli forces, his funeral will begin ‌in ⁠Tehran ⁠on July 4 and conclude with his burial in the northeastern city of Mashhad ⁠on July ⁠9, reported ⁠state media on Saturday. He will be laid to rest near the shrine of Imam Reza, fulfilling his wish of being buried next to one of Shia Islam's most revered figures. Khamenei, who ruled Iran for nearly 37 years was killed in Israeli and US airstrikes on February 28, the first day of the US-Israel-Iran war. His burial in his hometown, the northeastern holy city of Mashhad was initially scheduled for March but got postponed due to the war. ALSO READ: Who will control Iran's enriched uranium? US says Washington will; Tehran insists on its right to enrich The three-day funeral ceremony will begin in capital Tehran on July 4 and another in the holy city of Qom on July 7 with the burial happening in the northeastern city of Mashhad ⁠on July ⁠9, said the state media. Since Khamenei's assasination on February 28 in joint US-Israeli airstrikes on his office-cum-residence in Tehran there has been no news of Khamenei's body. US-Iran war coming to an end? Coming to the war, US President Donald Trump has said that he still believes a deal with Iran could be signed over the weekend or on Monday, reported NBC, citing the president’s interaction with Axios. Trump said the US would be represented by Vice President JD Vance in Europe. He also said that Iran has agreed to give up its nuclear ambitions, stop pursuing nuclear weapons and open the Strait of Hormuz once the deal is signed. However, there hasn't been any comments from Iran on this so far.

Ayatollah Ali Khamenei's burial in his hometown, the northeastern holy city of Mashhad was initially scheduled for March but got postponed due to the war.

Iranian supreme leader late Ayatollah Ali Khamenei to be buried on July 9, reports state media

The Albanian protests against Trump's daughter Ivanka and son-in-law Jared Kushner's luxury resort project have reached their 13th consecutive day. The protestors rallied under the slogan “Albania is not for sale,” demonstrating against Edi Rama's government, demanding his resignation and cancellation of the Kushner's luxury. The massively decentralised and grassroots protests continue unabated in the Albanian capital of Tirana and along the Adriatic coast.&nbsp;“Greeks have 6,000 islands and treat them like they have one,” former Albanian Navy Lt. Cmdr. Artur Meçollari told MS NOW. “We have one island, and we’re treating it like we have 6,000.”Environmental activists say that the project threatens the Vjosa-Narta lagoon and the nearby island of Sazan, a sensitive ecosystem which is one of the Mediterranean’s largest flamingo habitats. It is being dubbed as the “Flamingo Revolution” of Albania, with protesters carrying flamingo icons and flags of late Che Guevara to symbolise the struggle against corporate imperialism. Sazan is Albania's only island and has been largely left untouched till now due to being a restricted military zone.&nbsp;Also Read: <a href="https://www.wionews.com/world/ivanka-trump-jared-kushner-albania-project-protests-corruption-investigation-1780649023401">Ivanka Trump and Jared Kushner's $1.4 billion Albania project sparks mass protests and corruption probe</a>Demonstrators are calling for the immediate repeal of Law No. 21/2024, passed by parliament in early 2024, which weakened protections to fast-track five-star developments in wildlife reserves. They also accuse the government of land grabbing, ignoring local property ownership and approving non-transparent privatisation in the coastal area of Zvernec. What began as an eco protest has quickly turned into a political crisis in Albania.Redi Muci, a Member of Parliament from the Albanian opposition Movement Together Party, said that this is an unprecedented event in Albanian history. “So many young people and members of the middle class have come out to protest — not just because of an environmental catastrophe or because land is being taken away from local communities, but because of corruption.” He said that Kushner's linked luxury project was “the last drop that made the glass overflow”, as frustration had been building for years.&nbsp;Despite the corruption probe into the land transfer, Prime Minister Edi Rama has remained defiant, stating that the project will proceed because of its economic benefits. He termed the Flamingo revolution as Iranian hybrid warfare. While the European Commission has warned that the ongoing crisis and environmental backtracking could cost Albania its bid of European Union.&nbsp;

Thousands of Albanians continue protesting a Jared Kushner-linked luxury development on Sazan Island, with activists warning of environmental damage, corruption and threats to Albania's EU ambitions.

The Albanian protests against Trump's daughter Ivanka and son-in-law Jared Kushner's luxury resort project have reached their 13th consecutive day. The protestors rallied under the slogan “Albania is not for sale,” demonstrating against Edi Rama's government, demanding his resignation and cancellation of the Kushner's luxury. The massively decentralised and grassroots protests continue unabated in the Albanian capital of Tirana and along the Adriatic coast. “Greeks have 6,000 islands and treat them like they have one,” former Albanian Navy Lt. Cmdr. Artur Meçollari told MS NOW. “We have one island, and we’re treating it like we have 6,000.” Environmental activists say that the project threatens the Vjosa-Narta lagoon and the nearby island of Sazan, a sensitive ecosystem which is one of the Mediterranean’s largest flamingo habitats. It is being dubbed as the “Flamingo Revolution” of Albania, with protesters carrying flamingo icons and flags of late Che Guevara to symbolise the struggle against corporate imperialism. Sazan is Albania's only island and has been largely left untouched till now due to being a restricted military zone. Also Read: Ivanka Trump and Jared Kushner's $1.4 billion Albania project sparks mass protests and corruption probe Demonstrators are calling for the immediate repeal of Law No. 21/2024, passed by parliament in early 2024, which weakened protections to fast-track five-star developments in wildlife reserves. They also accuse the government of land grabbing, ignoring local property ownership and approving non-transparent privatisation in the coastal area of Zvernec. What began as an eco protest has quickly turned into a political crisis in Albania. Redi Muci, a Member of Parliament from the Albanian opposition Movement Together Party, said that this is an unprecedented event in Albanian history. “So many young people and members of the middle class have come out to protest — not just because of an environmental catastrophe or because land is being taken away from local communities, but because of corruption.” He said that Kushner's linked luxury project was “the last drop that made the glass overflow”, as frustration had been building for years. Despite the corruption probe into the land transfer, Prime Minister Edi Rama has remained defiant, stating that the project will proceed because of its economic benefits. He termed the Flamingo revolution as Iranian hybrid warfare. While the European Commission has warned that the ongoing crisis and environmental backtracking could cost Albania its bid of European Union.

Thousands of Albanians continue protesting a Jared Kushner-linked luxury development on Sazan Island, with activists warning of environmental damage, corruption and threats to Albania's EU ambitions.

Albania's 'Flamingo Revolution' enters 13th day as anti Kushner protest grows

Elon Musk's rise to a trillionaire worth around $1.05 trillion following SpaceX's blockbuster IPO on Friday (Jun 12) is more than a personal fortune milestone. It shows how wealth is concentrated in the hands of a few individuals. In a world of wars, famine, climate crisis, and natural disasters, all of which cause the high cost of living, the rich are getting richer much faster than average incomes are rising. Musk's wealth exceeds the combined economic output (GDP) or wealth of vast populations and even entire nations.<h2>Warnings on inequality becoming true: Musk's wealth and per-capita incomes</h2>As per figures from IMF and World Bank, the world's nominal GDP per capita is nearly $15,223.Based on purchasing power parity (PPP), adjusted for cost of living, it is around $27,003. This is not spread evenly for obvious reasons: advanced economies have a much higher per capita nominal GDP of $66,000, while emerging and developing economies are at $7,560. The average American economic output per person is about $94,430 per year. In India, it is around $3,051, and in Nigeria, about $1,378. Poorest nation South Sudan's GDP per capita is roughly $369 a year.&nbsp;Meanwhile, the collective wealth of the world's billionaires grew by $2.5 trillion in one year, nearly matching the total wealth of the bottom half of humanity, or around 4.1 billion people. The 12 richest billionaires hold more wealth than the poorest half, many times over.<h2>Putting the trillion-dollar wealth of a single person in context</h2>Musk's wealth reportedly grew more than $1 million per minute at some points. At $1 trillion, one person could exceed the combined net wealth of billions. Spread across all 8.2 billion people on Earth, it would come to roughly $128 each. Measured against South Sudan, Musk's net worth equalled about 174 times that nation's entire annual GDP of around $6 billion. This would equal nearly three billion person-years of average South Sudanese economic output held by one man.&nbsp;Against India's per-capita figure, Musk's wealth corresponds to the yearly output of around 340 million people.The World Inequality Report 2026 data reinforces this wealth gap. The top 1 per cent capture a massive share of global income and nearly 37 per cent of wealth. The top 10 per cent hold 75 per cent of global wealth, while the bottom half holds just 2 per cent of wealth and 8 per cent of income.<a href="https://www.wionews.com/videos/belfast-violence-musk-under-fire-for-stoking-anti-immigrant-riots-1781203316952/embed">https://www.wionews.com/videos/belfast-violence-musk-under-fire-for-stoking-anti-immigrant-riots-1781203316952/embed</a><h2>Billionaire wealth is at a historic high: A per capita comparison&nbsp;</h2>Oxfam and similar organisations have repeatedly warned about this extreme wealth concentration. Even as nearly half the world's population still lives in poverty, billionaire wealth has risen 81 per cent since 2020. According to Oxfam's analysis, billionaire wealth reached a record $18.3 trillion in 2025, up 16 per cent that year. That was three times the prior five-year average, and up 81 per cent since 2020.&nbsp;According to IMF, world GDP in 2026 is about $124 trillion. Musk's fortune alone therefore amounts to roughly 0.8 per cent of all annual economic output produced on Earth.&nbsp;How does it work out in per-capita income terms? The IMF estimates global GDP per capita at roughly $15,000 in 2026. At that level, Musk's $1.05 trillion fortune equals the annual economic output of around 70 million average world citizens.&nbsp;Even compared with high-income economies, the numbers are staggering. As mentioned earlier, the average American produces less than $100,000 of economic output per year, meaning Musk's fortune is equivalent to the annual output of more than 10 million Americans.In many African and South Asian nations, annual per-capita GDP remains below $5,000. Musk's wealth represents the equivalent of hundreds of millions of person-years of economic output when compared to them.Also read: <a href="https://www.wionews.com/business-economy/trillionaire-elon-musk-s-net-worth-is-now-25-per-cent-of-india-s-gdp-more-than-around-160-countries-gdp-after-spacex-ipo-1781330232743">Trillionaire Elon Musk's net worth after SpaceX IPO equals 25 per cent of India's GDP and more than 160 countries' output</a><h2>Winner takes most: Poverty has reduced across the world, but…</h2>Data from institutions such as the World Bank show that global extreme poverty has fallen substantially in the past decades. It is, therefore, incorrect to say that the poor are universally becoming poorer. But the gap between the richest individuals and the ordinary people continues to be enormous and growing.&nbsp;The World Bank now estimates about 831 million people live in extreme poverty under its updated $3.00-a-day poverty line, as of June 2025. South Sudan's GDP per capita has fallen more than 50 per cent since independence in 2011. Oxfam said that while Nigerians endured their worst cost-of-living crisis in a generation, African billionaire wealth jumped 36.5 per cent in 2025, more than twice the global average.&nbsp; Musk becoming a trillionaire does not alone cause the global wealth gap in isolation, but it reemphasises the winner-takes-most dynamics in tech and capital markets, where innovation and scaling create enormous notional wealth for founders and investors.&nbsp;Oxfam argued that this reflects policy choices favouring capital over labour and weak taxation of extreme wealth. Billionaires are roughly 4,000 times more likely to hold political office than ordinary citizens, so extreme wealth converts into outsized power over the rules themselves.Also read: <a href="https://www.wionews.com/business-economy/5-key-decisions-by-elon-musk-that-helped-save-spacex-from-collapse-in-2008-1781342326094">5 key decisions by Elon Musk that helped save SpaceX from collapse in 2008</a><h2>12 richest individuals now hold more wealth than the poor half of humanity</h2>In this context, it is interesting to recall Oxfam's January 2026 Davos report, Resisting the Rule of the Rich. The report said that billionaire wealth hit a record $18.3 trillion, rising more than 16 per cent in 2025. This is three times faster than the average of the previous five years, with the number of billionaires passing 3,000 for the first time. The concentration is shocking: 12 richest billionaires now hold more wealth than the poorest half of humanity or over four billion people. The richest 1 per cent own about 43.8 per cent of wealth while the bottom half holds just 0.52 per cent. This means a top-1 per cent person owns on average 8,251 times more than someone in the bottom 50 per cent. The wealth billionaires gained in a single year could hand every person on Earth $250 and still leave the billionaires more than $500 billion richer, it noted.

Elon Musk's $1.05 trillion fortune brings back debate on widening wealth concentration on a dozen or so individuals in a world of over 8 billion people. Billionaire wealth is rising far faster than national incomes, despite declines in global extreme poverty

Elon Musk's rise to a trillionaire worth around $1.05 trillion following SpaceX's blockbuster IPO on Friday (Jun 12) is more than a personal fortune milestone. It shows how wealth is concentrated in the hands of a few individuals. In a world of wars, famine, climate crisis, and natural disasters, all of which cause the high cost of living, the rich are getting richer much faster than average incomes are rising. Musk's wealth exceeds the combined economic output (GDP) or wealth of vast populations and even entire nations. Warnings on inequality becoming true: Musk's wealth and per-capita incomes As per figures from IMF and World Bank, the world's nominal GDP per capita is nearly $15,223. Based on purchasing power parity (PPP), adjusted for cost of living, it is around $27,003. This is not spread evenly for obvious reasons: advanced economies have a much higher per capita nominal GDP of $66,000, while emerging and developing economies are at $7,560. The average American economic output per person is about $94,430 per year. In India, it is around $3,051, and in Nigeria, about $1,378. Poorest nation South Sudan's GDP per capita is roughly $369 a year. Meanwhile, the collective wealth of the world's billionaires grew by $2.5 trillion in one year, nearly matching the total wealth of the bottom half of humanity, or around 4.1 billion people. The 12 richest billionaires hold more wealth than the poorest half, many times over. Putting the trillion-dollar wealth of a single person in context Musk's wealth reportedly grew more than $1 million per minute at some points. At $1 trillion, one person could exceed the combined net wealth of billions. Spread across all 8.2 billion people on Earth, it would come to roughly $128 each. Measured against South Sudan, Musk's net worth equalled about 174 times that nation's entire annual GDP of around $6 billion. This would equal nearly three billion person-years of average South Sudanese economic output held by one man. Against India's per-capita figure, Musk's wealth corresponds to the yearly output of around 340 million people. The World Inequality Report 2026 data reinforces this wealth gap. The top 1 per cent capture a massive share of global income and nearly 37 per cent of wealth. The top 10 per cent hold 75 per cent of global wealth, while the bottom half holds just 2 per cent of wealth and 8 per cent of income. https://www.wionews.com/videos/belfast-violence-musk-under-fire-for-stoking-anti-immigrant-riots-1781203316952/embed Billionaire wealth is at a historic high: A per capita comparison Oxfam and similar organisations have repeatedly warned about this extreme wealth concentration. Even as nearly half the world's population still lives in poverty, billionaire wealth has risen 81 per cent since 2020. According to Oxfam's analysis, billionaire wealth reached a record $18.3 trillion in 2025, up 16 per cent that year. That was three times the prior five-year average, and up 81 per cent since 2020. According to IMF, world GDP in 2026 is about $124 trillion. Musk's fortune alone therefore amounts to roughly 0.8 per cent of all annual economic output produced on Earth. How does it work out in per-capita income terms? The IMF estimates global GDP per capita at roughly $15,000 in 2026. At that level, Musk's $1.05 trillion fortune equals the annual economic output of around 70 million average world citizens. Even compared with high-income economies, the numbers are staggering. As mentioned earlier, the average American produces less than $100,000 of economic output per year, meaning Musk's fortune is equivalent to the annual output of more than 10 million Americans. In many African and South Asian nations, annual per-capita GDP remains below $5,000. Musk's wealth represents the equivalent of hundreds of millions of person-years of economic output when compared to them. Also read: Trillionaire Elon Musk's net worth after SpaceX IPO equals 25 per cent of India's GDP and more than 160 countries' output Winner takes most: Poverty has reduced across the world, but… Data from institutions such as the World Bank show that global extreme poverty has fallen substantially in the past decades. It is, therefore, incorrect to say that the poor are universally becoming poorer. But the gap between the richest individuals and the ordinary people continues to be enormous and growing. The World Bank now estimates about 831 million people live in extreme poverty under its updated $3.00-a-day poverty line, as of June 2025. South Sudan's GDP per capita has fallen more than 50 per cent since independence in 2011. Oxfam said that while Nigerians endured their worst cost-of-living crisis in a generation, African billionaire wealth jumped 36.5 per cent in 2025, more than twice the global average. Musk becoming a trillionaire does not alone cause the global wealth gap in isolation, but it reemphasises the winner-takes-most dynamics in tech and capital markets, where innovation and scaling create enormous notional wealth for founders and investors. Oxfam argued that this reflects policy choices favouring capital over labour and weak taxation of extreme wealth. Billionaires are roughly 4,000 times more likely to hold political office than ordinary citizens, so extreme wealth converts into outsized power over the rules themselves. Also read: 5 key decisions by Elon Musk that helped save SpaceX from collapse in 2008 12 richest individuals now hold more wealth than the poor half of humanity In this context, it is interesting to recall Oxfam's January 2026 Davos report, Resisting the Rule of the Rich. The report said that billionaire wealth hit a record $18.3 trillion, rising more than 16 per cent in 2025. This is three times faster than the average of the previous five years, with the number of billionaires passing 3,000 for the first time. The concentration is shocking: 12 richest billionaires now hold more wealth than the poorest half of humanity or over four billion people. The richest 1 per cent own about 43.8 per cent of wealth while the bottom half holds just 0.52 per cent. This means a top-1 per cent person owns on average 8,251 times more than someone in the bottom 50 per cent. The wealth billionaires gained in a single year could hand every person on Earth $250 and still leave the billionaires more than $500 billion richer, it noted.

Elon Musk's $1.05 trillion fortune brings back debate on widening wealth concentration on a dozen or so individuals in a world of over 8 billion people. Billionaire wealth is rising far faster than national incomes, despite declines in global extreme poverty

What does Musk's trillionaire status after SpaceX IPO tell us about global wealth gaps? The Big Question

The G7 Summit in Evian is scheduled on June 15-16. As world leaders meet in amid escalating geopolitical tensions, climate will be a crucial topic that will be discussed. Climate change was not mentioned as headline priority under France's presidency, climate-related issues remain embedded across discussions on energy security, economic resilience, development finance and adaptation.&nbsp;&nbsp;France has framed its presidency around reducing global economic imbalances, strengthening partnerships with developing countries and securing critical supply chains. The French presidency has emphasised resilience as a core theme, including strengthening disaster preparedness, climate-resilient infrastructure, insurance coverage for natural disasters and early warning systems. Discussions are also expected to address adaptation finance and ocean protection initiatives.&nbsp;&nbsp;While climate will remain embed in various ways in the G7 Summit, analysts do not expect major climate commitments. Climate change is not only a contentious issue between developed and developing nation, but also a sensitive issue at a time when US President Donald Trump says that he does not believe in climate change.&nbsp;Also Read: <a href="https://www.wionews.com/world/g7-summit-2026-modi-g7-summit-what-is-g7-and-how-it-differs-from-g20-and-brics-why-it-still-matters-in-the-changing-world-wion-decodes-1781256938652">G7 Summit: What is G7 and how it differs from G20 and BRICS? Why it still matters in the changing world | WION Decodes</a><h3>Why climate finance remains a key issue</h3>While developing countries argue that wealthy nations have not delivered sufficient funding to help them transition to clean energy and adapt to climate impacts, discussions are expected to focus on improving access to affordable capital, reforming development finance systems and expanding public-private financing mechanisms. France's G7 presidency has repeatedly highlighted the need to move beyond traditional aid models toward "mutually beneficial partnerships" that mobilise larger pools of investment for development and climate goals.&nbsp;<h3>Energy security may take centre stage</h3>The G7 meet also comes at a time when Iran and the US war has disrupted the flow of energy from Strait of Hormuz. This renewed concerns about global energy security is likely to be discussed in G7 Summit. The rising electricity demand from artificial intelligence, data centres and electrification is placing additional pressure on energy systems. According to the French presidency and the International Energy Agency, discussions in Evian are expected to focus on electricity security, resilient energy infrastructure, critical minerals and diversifying supply chains. Rather than increasing dependence on fossil fuels, many G7 members are expected to push for accelerated investment in clean energy technologies, power grids and electrification. Another aspect that will be in focus on climate-vulnerable countries, particularly Small Island Developing States and low-income nations. They have repeatedly called for greater support to prepare for extreme weather events and rising climate risks.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/g7-summit-are-global-economic-blocks-g7-and-brics-rivals-or-necessary-partners-wion-decodes-1781293122106">G7 Summit: Are global economic blocks G7 and BRICS rivals or necessary partners? WION Decodes</a><h3>Why India matters in the discussion</h3>India's Prime Minister Narendra Modi will attend teh G7 Summit. India's participation will play a major role as it will represent the concerns of the Global South on climate finance and development. New Delhi has consistently argued that developed countries must fulfil their climate-finance commitments while allowing developing nations sufficient policy space for growth and energy access. India's presence, alongside Brazil and Kenya, will provide an opportunity to push issues concerning climate change.

Climate finance, energy security and adaptation funding are expected to dominate discussions at the G7 Summit in Evian. Leaders face the challenge of balancing developed nations' focus on economic security and supply chains with developing countries' demands for climate finance

The G7 Summit in Evian is scheduled on June 15-16. As world leaders meet in amid escalating geopolitical tensions, climate will be a crucial topic that will be discussed. Climate change was not mentioned as headline priority under France's presidency, climate-related issues remain embedded across discussions on energy security, economic resilience, development finance and adaptation. France has framed its presidency around reducing global economic imbalances, strengthening partnerships with developing countries and securing critical supply chains. The French presidency has emphasised resilience as a core theme, including strengthening disaster preparedness, climate-resilient infrastructure, insurance coverage for natural disasters and early warning systems. Discussions are also expected to address adaptation finance and ocean protection initiatives. While climate will remain embed in various ways in the G7 Summit, analysts do not expect major climate commitments. Climate change is not only a contentious issue between developed and developing nation, but also a sensitive issue at a time when US President Donald Trump says that he does not believe in climate change. Also Read: G7 Summit: What is G7 and how it differs from G20 and BRICS? Why it still matters in the changing world | WION Decodes Why climate finance remains a key issue While developing countries argue that wealthy nations have not delivered sufficient funding to help them transition to clean energy and adapt to climate impacts, discussions are expected to focus on improving access to affordable capital, reforming development finance systems and expanding public-private financing mechanisms. France's G7 presidency has repeatedly highlighted the need to move beyond traditional aid models toward "mutually beneficial partnerships" that mobilise larger pools of investment for development and climate goals. Energy security may take centre stage The G7 meet also comes at a time when Iran and the US war has disrupted the flow of energy from Strait of Hormuz. This renewed concerns about global energy security is likely to be discussed in G7 Summit. The rising electricity demand from artificial intelligence, data centres and electrification is placing additional pressure on energy systems. According to the French presidency and the International Energy Agency, discussions in Evian are expected to focus on electricity security, resilient energy infrastructure, critical minerals and diversifying supply chains. Rather than increasing dependence on fossil fuels, many G7 members are expected to push for accelerated investment in clean energy technologies, power grids and electrification. Another aspect that will be in focus on climate-vulnerable countries, particularly Small Island Developing States and low-income nations. They have repeatedly called for greater support to prepare for extreme weather events and rising climate risks. Also Read: G7 Summit: Are global economic blocks G7 and BRICS rivals or necessary partners? WION Decodes Why India matters in the discussion India's Prime Minister Narendra Modi will attend teh G7 Summit. India's participation will play a major role as it will represent the concerns of the Global South on climate finance and development. New Delhi has consistently argued that developed countries must fulfil their climate-finance commitments while allowing developing nations sufficient policy space for growth and energy access. India's presence, alongside Brazil and Kenya, will provide an opportunity to push issues concerning climate change.

Climate finance, energy security and adaptation funding are expected to dominate discussions at the G7 Summit in Evian. Leaders face the challenge of balancing developed nations' focus on economic security and supply chains with developing countries' demands for climate finance

G7 Summit 2026 | From climate finance to energy security: What to expect as leaders meet in France

India’s newly appointed Ambassador to China, Vikram Doraiswami, travelled to Tibet to review preparations for the upcoming Kailash Manasarovar Yatra and engage with regional authorities. The visit marks his first official trip to Tibet since assuming charge as ambassador in May.According to the Indian Embassy, Doraiswami and members of the diplomatic mission arrived in Lhasa on Thursday (Jun 11). During the visit, they are assessing arrangements put in place by local authorities ahead of the arrival of Indian pilgrims later this month.The ambassador held discussions with Zhao Peng, Vice Chairman of the Tibet Autonomous Region, who briefed the Indian delegation on infrastructure, logistics and other facilities being prepared for the pilgrimage. Zhao also hosted a dinner for the visiting delegation.Since taking up his diplomatic assignment last month, Doraiswami has been actively engaging with senior Chinese officials on a range of bilateral matters, reflecting the gradual improvement in ties between the two countries.The Kailash Manasarovar Yatra, organised by the Ministry of External Affairs, remained suspended for several years. The pilgrimage was first halted in 2020 because of the COVID-19 pandemic and later remained on hold amid the prolonged military standoff between India and China along the Line of Actual Control in eastern Ladakh.The pilgrimage resumed last year after Indian devotees were once again allowed to travel to the sacred Manasarovar region following a gap of five years.The resumption of the Kailash Manasarovar Yatra came following a key meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping on the sidelines of a summit in Kazan in 2024.

Indian Ambassador to China Vikram Doraiswami visited Tibet to review Kailash Manasarovar Yatra preparations. The trip marks his first visit to the region since taking charge in May.

India’s newly appointed Ambassador to China, Vikram Doraiswami, travelled to Tibet to review preparations for the upcoming Kailash Manasarovar Yatra and engage with regional authorities. The visit marks his first official trip to Tibet since assuming charge as ambassador in May. According to the Indian Embassy, Doraiswami and members of the diplomatic mission arrived in Lhasa on Thursday (Jun 11). During the visit, they are assessing arrangements put in place by local authorities ahead of the arrival of Indian pilgrims later this month. The ambassador held discussions with Zhao Peng, Vice Chairman of the Tibet Autonomous Region, who briefed the Indian delegation on infrastructure, logistics and other facilities being prepared for the pilgrimage. Zhao also hosted a dinner for the visiting delegation. Since taking up his diplomatic assignment last month, Doraiswami has been actively engaging with senior Chinese officials on a range of bilateral matters, reflecting the gradual improvement in ties between the two countries. The Kailash Manasarovar Yatra, organised by the Ministry of External Affairs, remained suspended for several years. The pilgrimage was first halted in 2020 because of the COVID-19 pandemic and later remained on hold amid the prolonged military standoff between India and China along the Line of Actual Control in eastern Ladakh. The pilgrimage resumed last year after Indian devotees were once again allowed to travel to the sacred Manasarovar region following a gap of five years. The resumption of the Kailash Manasarovar Yatra came following a key meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping on the sidelines of a summit in Kazan in 2024.

Indian Ambassador to China Vikram Doraiswami visited Tibet to review Kailash Manasarovar Yatra preparations. The trip marks his first visit to the region since taking charge in May.

Indian ambassador to China visits Tibet to review Kailash Manasarovar Yatra preparations

A newly released batch of once-classified UFO files has revived interest in one of the strangest claims buried in Cold War-era intelligence records: a CIA-linked reference to a destroyed "message from space" and its transmitter. The fresh documents were released on Friday (Jun 12) as part of the Trump administration's third tranche of declassified files related to Unidentified Anomalous Phenomena (UAPs), the government's official term for UFOs. The latest release includes photographs, videos, drawings and intelligence records from military and civilian agencies, adding to a growing public archive that has drawn intense interest in recent months.Also read | <a href="https://www.wionews.com/sports/rotting-body-discovered-metres-from-iran-team-s-fifa-world-cup-camp-in-tijuana-fifa-2026-1781322053339">'Bad smell' leads to discovery of rotting body near Iran team's FIFA World Cup camp in Tijuana</a><h2>CIA destroyed messages from aliens?</h2>Among the newly scrutinised records is a confidential CIA memorandum dated January 9, 1958. The document recounts a telephone conversation with Dr Leon Davidson, a chemical engineer who worked on the Manhattan Project and later at Los Alamos before becoming an independent researcher of UFO reports.

CIA communication about Dr Leon Davidson and 'destroyed' records from latest UFO file dump

In the memo, CIA official R.P.B. Lohmann wrote that Davidson had been informed the agency could not help resolve his concerns regarding a "space message and its transmitter" because records connected to the matter had already been destroyed."We have contacted Dr Davidson by telephone advising him that we cannot resolve his problem concerning the space message and its transmitter because records on the matter have been destroyed by the evaluating agency," the memo states.Also read | <a href="https://www.wionews.com/technology/death-is-only-the-beginning-meta-patents-technology-that-ll-let-ai-run-your-social-media-from-beyond-the-grave-wion-explains-1771304178081">Death is only the beginning? Meta patents tech that'll let AI run your social media from beyond the grave | WION Explains</a>The document offers no further explanation about the nature of the alleged message, who discovered it, or which agency had evaluated and destroyed the records.What makes the memo particularly intriguing is its tone. Lohmann acknowledged that the response given to Davidson was "extraordinarily noncommittal and evasive" and suggested it was crafted to avoid contradicting previous statements made by government agencies.The memo also notes that CIA officials attempted to conceal their identities during conversations with Davidson, although Lohmann conceded that the scientist likely knew who he was dealing with.<h2>Alien starbase on moon?</h2>Davidson was not a fringe figure. Archival records maintained by Columbia University show he spent years collecting and studying UFO reports, eventually assembling what is now known as the Leon Davidson Flying Saucer Collection.The latest release also includes records linked to NASA's Apollo-era missions, including references to an alleged "alien starbase" on the far side of the Moon that reportedly did not appear in official mission transcripts.The Pentagon says public interest in the archive has been unprecedented, with the website hosting the files receiving more than 1.7 billion visits since its launch in May. For UFO researchers, the newly released memo is likely to become one of the most closely examined documents in the collection. &nbsp;

A declassified 1958 CIA memo has resurfaced in the latest UFO document release, revealing a mysterious reference to a destroyed "space message and its transmitter." The files also include claims linked to an alleged alien starbase on the Moon's far side.

A newly released batch of once-classified UFO files has revived interest in one of the strangest claims buried in Cold War-era intelligence records: a CIA-linked reference to a destroyed "message from space" and its transmitter. The fresh documents were released on Friday (Jun 12) as part of the Trump administration's third tranche of declassified files related to Unidentified Anomalous Phenomena (UAPs), the government's official term for UFOs. The latest release includes photographs, videos, drawings and intelligence records from military and civilian agencies, adding to a growing public archive that has drawn intense interest in recent months. Also read | 'Bad smell' leads to discovery of rotting body near Iran team's FIFA World Cup camp in Tijuana CIA destroyed messages from aliens? Among the newly scrutinised records is a confidential CIA memorandum dated January 9, 1958. The document recounts a telephone conversation with Dr Leon Davidson, a chemical engineer who worked on the Manhattan Project and later at Los Alamos before becoming an independent researcher of UFO reports.

A declassified 1958 CIA memo has resurfaced in the latest UFO document release, revealing a mysterious reference to a destroyed "space message and its transmitter." The files also include claims linked to an alleged alien starbase to the Moon's far side.

'Message from space': Did CIA destroy an alien message? Newly released UFO files reveal bizarre 1958 mystery

Iran and the US have hinted that a deal could be signed in the weekend or early next week to end the ongoing war. However, several issues including the enriched uranium remains the bone of contention. While Washington claims that Iran's enriched uranium will be taken over, Tehran still highlights its right for enriched uranium.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/tehran-denies-any-approved-text-for-us-deal-dismisses-trump-claims-iranian-media-1781205421816">Tehran denies any approved text for US deal, dismisses Trump claims: Iranian Media</a><h2>What the US said?</h2>According to reports, an US official said that the emerging memorandum of understanding (MoU) with Iran “leads to” Washington getting Tehran’s stockpile of highly enriched uranium. The agreement provides for the uranium to be destroyed on site before being removed from Iran. The official described the draft agreement as broad in scope, extending beyond Iran's nuclear programme to include regional issues such as Lebanon, where Israel continues to battle Iran-backed Hezbollah. He also suggested that Iran's reduced leverage in the Strait of Hormuz had strengthened Washington's negotiating position and expressed confidence that the deal had an 80-85 per cent chance of being finalised.&nbsp;Also Read: <a href="https://www.wionews.com/world/simply-baseless-iran-denies-trump-s-allegation-of-attack-on-indian-ship-in-hormuz-1781299441797">'Simply baseless': Iran denies Trump's allegation of attack on Indian ship in Hormuz</a><h2>What Iran said?</h2>Iran has reportedly taken significant steps to secure its cache of near bomb-grade uranium. According to reports quoting US intelligence assessments, Tehran has collapsed tunnels, sealed access points and planted explosive mines around storage locations housing roughly half a tonne of highly enriched uranium. These measures have made any potential operation to remove or destroy the material substantially more difficult. The fortifications could complicate implementation of any future agreement and raise questions about who would be responsible for retrieving the uranium if a deal is reached.&nbsp;This comes in the backdrop of Iran repeatedly maintaining that uranium enrichment is its sovereign right under international agreements. It has also added that its nuclear programme is for peaceful purposes. Tehran has also pushed back against claims that a final agreement has already been approved, with Iranian media recently reporting that no agreed text currently exists.&nbsp;<h3>What are international offers on Iran's uranium?</h3>Russia has repeatedly offered to host Iran's enriched uranium on its own soil as part of a comprehensive peace arrangement. Pakistani media reported that through back-channel diplomacy Iran expressed willingness to transfer a portion of its 60 per cent highly enriched uranium stockpile to an external third country. Al Jazeera also reported that Iranian Supreme Leader Mojtaba Khamenei stated that highly enriched uranium must not be shipped abroad.

A senior US official said a proposed agreement with Iran would lead to the destruction and removal of Tehran's highly enriched uranium stockpile and the dismantling of its nuclear program. The deal extends a ceasefire by 60 days

Iran and the US have hinted that a deal could be signed in the weekend or early next week to end the ongoing war. However, several issues including the enriched uranium remains the bone of contention. While Washington claims that Iran's enriched uranium will be taken over, Tehran still highlights its right for enriched uranium. Also Read: Tehran denies any approved text for US deal, dismisses Trump claims: Iranian Media What the US said? According to reports, an US official said that the emerging memorandum of understanding (MoU) with Iran “leads to” Washington getting Tehran’s stockpile of highly enriched uranium. The agreement provides for the uranium to be destroyed on site before being removed from Iran. The official described the draft agreement as broad in scope, extending beyond Iran's nuclear programme to include regional issues such as Lebanon, where Israel continues to battle Iran-backed Hezbollah. He also suggested that Iran's reduced leverage in the Strait of Hormuz had strengthened Washington's negotiating position and expressed confidence that the deal had an 80-85 per cent chance of being finalised. Also Read: 'Simply baseless': Iran denies Trump's allegation of attack on Indian ship in Hormuz What Iran said? Iran has reportedly taken significant steps to secure its cache of near bomb-grade uranium. According to reports quoting US intelligence assessments, Tehran has collapsed tunnels, sealed access points and planted explosive mines around storage locations housing roughly half a tonne of highly enriched uranium. These measures have made any potential operation to remove or destroy the material substantially more difficult. The fortifications could complicate implementation of any future agreement and raise questions about who would be responsible for retrieving the uranium if a deal is reached. This comes in the backdrop of Iran repeatedly maintaining that uranium enrichment is its sovereign right under international agreements. It has also added that its nuclear programme is for peaceful purposes. Tehran has also pushed back against claims that a final agreement has already been approved, with Iranian media recently reporting that no agreed text currently exists. What are international offers on Iran's uranium? Russia has repeatedly offered to host Iran's enriched uranium on its own soil as part of a comprehensive peace arrangement. Pakistani media reported that through back-channel diplomacy Iran expressed willingness to transfer a portion of its 60 per cent highly enriched uranium stockpile to an external third country. Al Jazeera also reported that Iranian Supreme Leader Mojtaba Khamenei stated that highly enriched uranium must not be shipped abroad.

A senior US official said a proposed agreement with Iran would lead to the destruction and removal of Tehran's highly enriched uranium stockpile and the dismantling of its nuclear program. The deal extends a ceasefire by 60 days

Who will control Iran's enriched uranium? US says Washington will; Tehran insists on its right to enrich

The US government, citing national security authorities, has directed Anthropic to suspend access to the Fable 5 and Mythos 5 by any foreign nationals, both within and outside the US territory. The direct implication of the order is that Anthorpic blocked access to the Fable 5 and Mythos 5 to all on Friday evening."Our understanding is that the government believes it has become aware of a method of bypassing, or 'jailbreaking' Fable 5, " said Anthropic in a statement. The company now finds itself on the Pentagon's blacklist, deemed too dangerous for its own use as well as foreign use. The US Commerce Secretary, Howard Lutnick, sent a letter to Anthropic CEO Dario Amodei, saying that the model should remain locked down until the US National Security apparatus is hardened, which could take up to a few weeks.According to the letter from the Commerce Department, Anthropic would in future require a license to export, re-export and domestic transfer of those Anthropic models. Furthermore, Anthropic will also be required to provide individually validated licenses; otherwise, it might face civil and financial penalties.Also Read: <a href="https://www.wionews.com/world/iran-araghchi-us-iran-mou-strategic-victory-24-billion-funds-1781331748593">Araghchi says Iran won the war, claims US ready to unlock $24 billion</a><h2>What is "jailbreaking"?</h2>Anthropic's newly developed frontier “AI models” have been reported to have reached a level of capability that poses a catastrophic risk to public and national security. These models can possibly find loopholes in sophisticated software codebases and generate weaponised exploits; they can perform recursive self-improvement without human oversight, and disclose information synthesising dangerous pathogens or biological weapons. So Anthropic “instituted strong safeguards that greatly reduce the likelihood that Fable is misused for tasks related to cybersecurity (among others)”, jailbreaking is the possibility of bypassing those safeguards.&nbsp;“We reviewed a demonstration of this specific technique being used to identify a small number of previously known, minor vulnerabilities. These vulnerabilities all appear relatively simple, and we have found that other publicly available models are able to discover them as well without requiring a bypass,” read Anthropic's statement. It claims that no tester has been able to provide a “universal jailbreak”, something that can broadly bypass all the safeguards and unblock a wide range of cyber capabilities. It also asserts that perfect jailbreak resistance is not available. Some minor vulnerabilities are likely to remain.

The US government has ordered Anthropic to restrict access to Fable 5 and Mythos 5 after concerns over AI jailbreaking and potential national security risks. Here's what jailbreaking means.

The US government, citing national security authorities, has directed Anthropic to suspend access to the Fable 5 and Mythos 5 by any foreign nationals, both within and outside the US territory. The direct implication of the order is that Anthorpic blocked access to the Fable 5 and Mythos 5 to all on Friday evening. "Our understanding is that the government believes it has become aware of a method of bypassing, or 'jailbreaking' Fable 5, " said Anthropic in a statement. The company now finds itself on the Pentagon's blacklist, deemed too dangerous for its own use as well as foreign use. The US Commerce Secretary, Howard Lutnick, sent a letter to Anthropic CEO Dario Amodei, saying that the model should remain locked down until the US National Security apparatus is hardened, which could take up to a few weeks. According to the letter from the Commerce Department, Anthropic would in future require a license to export, re-export and domestic transfer of those Anthropic models. Furthermore, Anthropic will also be required to provide individually validated licenses; otherwise, it might face civil and financial penalties. Also Read: Araghchi says Iran won the war, claims US ready to unlock $24 billion What is "jailbreaking"? Anthropic's newly developed frontier “AI models” have been reported to have reached a level of capability that poses a catastrophic risk to public and national security. These models can possibly find loopholes in sophisticated software codebases and generate weaponised exploits; they can perform recursive self-improvement without human oversight, and disclose information synthesising dangerous pathogens or biological weapons. So Anthropic “instituted strong safeguards that greatly reduce the likelihood that Fable is misused for tasks related to cybersecurity (among others)”, jailbreaking is the possibility of bypassing those safeguards. “We reviewed a demonstration of this specific technique being used to identify a small number of previously known, minor vulnerabilities. These vulnerabilities all appear relatively simple, and we have found that other publicly available models are able to discover them as well without requiring a bypass,” read Anthropic's statement. It claims that no tester has been able to provide a “universal jailbreak”, something that can broadly bypass all the safeguards and unblock a wide range of cyber capabilities. It also asserts that perfect jailbreak resistance is not available. Some minor vulnerabilities are likely to remain.

The US government has ordered Anthropic to restrict access to Fable 5 and Mythos 5 after concerns over AI jailbreaking and potential national security risks. Here's what jailbreaking means.

US locks down Anthropic's most powerful AI after alarming jailbreak warning

After SpaceX's initial public offering on Friday (Jun 12), Elon Musk's combined SpaceX and Tesla stakes put his net worth at roughly $1.05 trillion, making him Earth's first trillionaire. It would be interesting to compare his net worth with the Gross Domestic Product of various nations. A basic comparison shows that Musk's net worth is more than the GDP of nearly 160 countries. Let's analyse the data with figures mainly taken from the International Monetary Fund (IMF).<h2>Crunching the numbers: Nominal GDP estimates of nations</h2>At the time of writing this, the GDP of top nations in IMF website at current prices , also known as nominal GDP, is given below, in the order of Rank, country&nbsp;and GDP in US$ trillion. 1. United States&nbsp;&nbsp;&nbsp;&nbsp;32.38 2.&nbsp;&nbsp;&nbsp;&nbsp;China&nbsp;&nbsp;&nbsp;&nbsp;20.85 3.&nbsp;&nbsp;&nbsp;&nbsp;Germany&nbsp;&nbsp;&nbsp;&nbsp;5.45 4&nbsp;.&nbsp;&nbsp;&nbsp;Japan&nbsp;&nbsp;&nbsp;&nbsp;4.4 5.&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom&nbsp;&nbsp;&nbsp;&nbsp;4.26 6.&nbsp;&nbsp;&nbsp;&nbsp;India&nbsp;&nbsp;&nbsp;&nbsp;4.15 7.&nbsp;&nbsp;&nbsp;&nbsp;France&nbsp;&nbsp;&nbsp;&nbsp;3.6 8.&nbsp;&nbsp;&nbsp;&nbsp;Russia&nbsp;&nbsp;&nbsp;&nbsp;2.7 9.&nbsp;&nbsp;&nbsp;&nbsp;Italy&nbsp;&nbsp;&nbsp;&nbsp;2.7 10.&nbsp;&nbsp;&nbsp;&nbsp;Brazil&nbsp;&nbsp;&nbsp;&nbsp;2.6 11.&nbsp;&nbsp;&nbsp;&nbsp;Canada&nbsp;&nbsp;&nbsp;&nbsp;2.5 12.&nbsp;&nbsp;&nbsp;&nbsp;Spain&nbsp;&nbsp;&nbsp;&nbsp;2.1 13.&nbsp;&nbsp;&nbsp;&nbsp;Australia&nbsp;&nbsp;&nbsp;&nbsp;2.1214.&nbsp;&nbsp;&nbsp;&nbsp;Mexico&nbsp;&nbsp;&nbsp;&nbsp;2.12 15.&nbsp;&nbsp;&nbsp;&nbsp;South Korea&nbsp;&nbsp;&nbsp;&nbsp;1.9 16.&nbsp;&nbsp;&nbsp;&nbsp;Turkey&nbsp;&nbsp;&nbsp;&nbsp;1.6 17.&nbsp;&nbsp;&nbsp;&nbsp;Indonesia&nbsp;&nbsp;&nbsp;&nbsp;1.5 18.&nbsp;&nbsp;&nbsp;&nbsp;Netherlands&nbsp;&nbsp;&nbsp;&nbsp;1.45 19.&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabia&nbsp;&nbsp;&nbsp;&nbsp;1.39 20.&nbsp;&nbsp;&nbsp;&nbsp;Switzerland&nbsp;&nbsp;&nbsp;&nbsp;1.1 21.&nbsp;&nbsp;&nbsp;&nbsp;Poland&nbsp;&nbsp;&nbsp;&nbsp;1.1 22. Taiwan&nbsp;&nbsp;&nbsp;&nbsp;0.9<h2>How does Elon Musk's wealth compare to richest 10 nations?</h2>For the year 2025, the top 10 GDPs were the United States at $30.6 trillion, China at $19.4 trillion, Germany at $5.01 trillion, Japan at $4.28 trillion, India at $4.13 trillion, the United Kingdom at $3.96 trillion, France at $3.36 trillion, Italy at $2.54 trillion, Russia at $2.54 trillion and Canada at $2.28 trillion. This means Musk's wealth is around 3.4 per cent of US GDP in 2025. For China, it is 5.4 per cent while for Germany it is 21 per cent. Musk's fortune would be 24.5 per cent of Japan's GDP and &nbsp;26.5 per cent of UK's, 31 per cent of France's, 41 per cent of Italy's, 41 per cent of Russia's and 42.56 per cent of Canada's.Also read: <a href="https://www.wionews.com/business-economy/spacex-went-public-today-but-indians-couldn-t-buy-stock-in-ipo-here-s-why-1781284656634/amp">SpaceX went public today but Indians couldn't buy stock in IPO! Here's why</a><h2>How does Musk's fortune compare with India's economy?</h2>Musk's fortune equals about a quarter of India's $4.1 trillion economy. &nbsp;A $1 trillion fortune is about 25 per cent of India's annual economic output.<a href="https://www.wionews.com/videos/musk-vows-to-reach-mars-as-spacex-makes-wall-street-debut-1781284346523">https://www.wionews.com/videos/musk-vows-to-reach-mars-as-spacex-makes-wall-street-debut-1781284346523</a><h2>Musk's net worth nearly equals 10 nations' GDP</h2>Every economy from rank 17 down to around rank 21 is individually worth roughly $1 trillion or more. &nbsp;Musk's $1.05 trillion networth is nearly the size of some of world's 20th-largest economies, such as Poland and Switzerland. This means one man's paper wealth roughly equals the entire annual output of several nations. The next few countries have economies lesser than Musk's net worth, including Belgium and Argentina, both at around $0.7 trillion.Also read: <a href="https://www.wionews.com/business-economy/spacex-ipo-soars-and-elon-musk-becomes-world-s-first-trillionaire-1781288775478/amp">SpaceX IPO soars and Elon Musk becomes world's FIRST trillionaire</a><h2>How does Musk's wealth compare to the African continent and the world?</h2>The combined nominal GDP of all African nations would be around $6 trillion. Out of this, Sub-Saharan Africa's output is roughly $2.5 trillion, and the rest comes mainly from North African economies such as Egypt, Algeria, Morocco, Tunisia, and Libya. Musk's $1 trillion plus net worth would be about 25 per cent of Africa's total output. World GDP is around $124 trillion as per IMF 2026 estimates. In other words, $1 trillion is about 1 dollar out of every 124 dollars produced globally each year.Also read: <a href="https://www.wionews.com/world/spacex-just-made-history-1-8-trillion-ipo-is-the-biggest-listing-ever-1781284160310/amp">SpaceX just made history! $1.8 trillion IPO is the biggest listing ever</a><h2>But is it fair to compare Musk's net worth to GDPs of nations?</h2>Quick economics lesson here: Net worth is the value of assets owned by a person. GDP is the value of goods and services produced in one year by an entire economy. A person's net worth is volatile and mostly illiquid equity, not official statistics. Musk himself has noted that his wealth almost entirely consists of his stock holdings in the two companies he heads: Tesla and SpaceX, with under 0.1 per cent in cash. This is a notional value, or paper wealth. From this perspective, it is not strictly an apples-to-apples comparison.

After SpaceX's IPO, Elon Musk's net worth reached about $1.05 trillion. While still a notional number, the amount surpasses the GDP of over 160 countries. Here is how his fortune compares with India, major economies, Africa, and the world.

After SpaceX's initial public offering on Friday (Jun 12), Elon Musk's combined SpaceX and Tesla stakes put his net worth at roughly $1.05 trillion, making him Earth's first trillionaire. It would be interesting to compare his net worth with the Gross Domestic Product of various nations. A basic comparison shows that Musk's net worth is more than the GDP of nearly 160 countries. Let's analyse the data with figures mainly taken from the International Monetary Fund (IMF). Crunching the numbers: Nominal GDP estimates of nations At the time of writing this, the GDP of top nations in IMF website at current prices , also known as nominal GDP, is given below, in the order of Rank, country and GDP in US$ trillion. 1. United States 32.38 2. China 20.85 3. Germany 5.45 4 . Japan 4.4 5. United Kingdom 4.26 6. India 4.15 7. France 3.6 8. Russia 2.7 9. Italy 2.7 10. Brazil 2.6 11. Canada 2.5 12. Spain 2.1 13. Australia 2.12 14. Mexico 2.12 15. South Korea 1.9 16. Turkey 1.6 17. Indonesia 1.5 18. Netherlands 1.45 19. Saudi Arabia 1.39 20. Switzerland 1.1 21. Poland 1.1 22. Taiwan 0.9 How does Elon Musk's wealth compare to richest 10 nations? For the year 2025, the top 10 GDPs were the United States at $30.6 trillion, China at $19.4 trillion, Germany at $5.01 trillion, Japan at $4.28 trillion, India at $4.13 trillion, the United Kingdom at $3.96 trillion, France at $3.36 trillion, Italy at $2.54 trillion, Russia at $2.54 trillion and Canada at $2.28 trillion. This means Musk's wealth is around 3.4 per cent of US GDP in 2025. For China, it is 5.4 per cent while for Germany it is 21 per cent. Musk's fortune would be 24.5 per cent of Japan's GDP and 26.5 per cent of UK's, 31 per cent of France's, 41 per cent of Italy's, 41 per cent of Russia's and 42.56 per cent of Canada's. Also read: SpaceX went public today but Indians couldn't buy stock in IPO! Here's why How does Musk's fortune compare with India's economy? Musk's fortune equals about a quarter of India's $4.1 trillion economy. A $1 trillion fortune is about 25 per cent of India's annual economic output. https://www.wionews.com/videos/musk-vows-to-reach-mars-as-spacex-makes-wall-street-debut-1781284346523 Musk's net worth nearly equals 10 nations' GDP Every economy from rank 17 down to around rank 21 is individually worth roughly $1 trillion or more. Musk's $1.05 trillion networth is nearly the size of some of world's 20th-largest economies, such as Poland and Switzerland. This means one man's paper wealth roughly equals the entire annual output of several nations. The next few countries have economies lesser than Musk's net worth, including Belgium and Argentina, both at around $0.7 trillion. Also read: SpaceX IPO soars and Elon Musk becomes world's FIRST trillionaire How does Musk's wealth compare to the African continent and the world? The combined nominal GDP of all African nations would be around $6 trillion. Out of this, Sub-Saharan Africa's output is roughly $2.5 trillion, and the rest comes mainly from North African economies such as Egypt, Algeria, Morocco, Tunisia, and Libya. Musk's $1 trillion plus net worth would be about 25 per cent of Africa's total output. World GDP is around $124 trillion as per IMF 2026 estimates. In other words, $1 trillion is about 1 dollar out of every 124 dollars produced globally each year. Also read: SpaceX just made history! $1.8 trillion IPO is the biggest listing ever But is it fair to compare Musk's net worth to GDPs of nations? Quick economics lesson here: Net worth is the value of assets owned by a person. GDP is the value of goods and services produced in one year by an entire economy. A person's net worth is volatile and mostly illiquid equity, not official statistics. Musk himself has noted that his wealth almost entirely consists of his stock holdings in the two companies he heads: Tesla and SpaceX, with under 0.1 per cent in cash. This is a notional value, or paper wealth. From this perspective, it is not strictly an apples-to-apples comparison.

After SpaceX's IPO, Elon Musk's net worth reached about $1.05 trillion. While still a notional number, the amount surpasses the GDP of over 160 countries. Here is how his fortune compares with India, major economies, Africa, and the world.

Trillionaire Elon Musk's net worth after SpaceX IPO equals 25 per cent of India's GDP and more than 160 countries' output

Iran's Foreign Minister Seyed Abbas Araghchi announced that the Islamabad MOU is closer than ever and declared that Tehran achieved a strategic victory in the recent war. Araghchi claimed that no transfer of enriched Uranium has been agreed, and Iran's only acceptable position for uranium is the dilution of enriched uranium within Iran, as reported by Mehr news agency. Araghchi further claims that the US has agreed to begin releasing $24 billion in blocked Iranian funds during a 60-day final negotiation period, immediately after a 14-point memorandum of understanding is signed."The best time to end a war is when you hold the upper hand in the field and are the victor of that field. We are the victors of this field, not as a slogan but based on existing realities," said Araghchi.According to Araghchi's public address, the negotiations are likely to have two stages - “The first stage is the signing of the MoU between Iran and the US, after which a second stage of negotiations will begin, leading to a final agreement,” reported Iran's Mehr news agency. The first stage focuses on where the agreement is achievable, while the nuclear file and sanction relief will be discussed at the next stage.Also Read: <a href="https://www.wionews.com/india-news/kolkata-fire-4000-evms-destroyed-sabotage-investigation-1781273003878">Around 4,000 EVMs destroyed in Kolkata fire, sabotage angle under investigation</a>"For the first time in 47 years, the United States will explicitly declare and put in writing its respect for the sovereignty of the Islamic Republic of Iran," he said. In return, Iran has been asked to reciprocally respect US sovereignty. He said that the Strait of Hormuz will remain under the control of Iran and Oman, and the future management of the Strait will not resemble the past."We never forgot Lebanon in this war, because Lebanon and Hezbollah stood alongside the Iranian people," said Araghchi. He added that ending conflict in Lebanon includes withdrawl of forces from all Lebanese territory, refraining from threat or force and mutual respect for sovereignty. He added that Iran, over the course of the last 12-day war and the 40-day war, has said that it is capable of defending itself without outside help. "We rely on no one for our own security. For years, we built complete deterrence for ourselves. We created an inherent guarantee for ourselves," he said.Araghchi said that the document has two pages but did not disclose the details of the full text, citing the possibility of last-minute changes. Trump also hasn’t been specific about what is precisely contained in this memorandum of understanding, instead of saying it's getting closer at one point and then threatening to hammer Iran at another moment. It is increasingly clear that Trump is more desperate about an off-ramp while Iran seems to have an upper hand in the negotiations. &nbsp;

Iran FM Abbas Araghchi says a US-Iran memorandum of understanding is closer than ever, claims strategic victory in the recent war, and says $24 billion in blocked funds could be released.

Iran's Foreign Minister Seyed Abbas Araghchi announced that the Islamabad MOU is closer than ever and declared that Tehran achieved a strategic victory in the recent war. Araghchi claimed that no transfer of enriched Uranium has been agreed, and Iran's only acceptable position for uranium is the dilution of enriched uranium within Iran, as reported by Mehr news agency. Araghchi further claims that the US has agreed to begin releasing $24 billion in blocked Iranian funds during a 60-day final negotiation period, immediately after a 14-point memorandum of understanding is signed. "The best time to end a war is when you hold the upper hand in the field and are the victor of that field. We are the victors of this field, not as a slogan but based on existing realities," said Araghchi. According to Araghchi's public address, the negotiations are likely to have two stages - “The first stage is the signing of the MoU between Iran and the US, after which a second stage of negotiations will begin, leading to a final agreement,” reported Iran's Mehr news agency. The first stage focuses on where the agreement is achievable, while the nuclear file and sanction relief will be discussed at the next stage. Also Read: Around 4,000 EVMs destroyed in Kolkata fire, sabotage angle under investigation "For the first time in 47 years, the United States will explicitly declare and put in writing its respect for the sovereignty of the Islamic Republic of Iran," he said. In return, Iran has been asked to reciprocally respect US sovereignty. He said that the Strait of Hormuz will remain under the control of Iran and Oman, and the future management of the Strait will not resemble the past. "We never forgot Lebanon in this war, because Lebanon and Hezbollah stood alongside the Iranian people," said Araghchi. He added that ending conflict in Lebanon includes withdrawl of forces from all Lebanese territory, refraining from threat or force and mutual respect for sovereignty. He added that Iran, over the course of the last 12-day war and the 40-day war, has said that it is capable of defending itself without outside help. "We rely on no one for our own security. For years, we built complete deterrence for ourselves. We created an inherent guarantee for ourselves," he said. Araghchi said that the document has two pages but did not disclose the details of the full text, citing the possibility of last-minute changes. Trump also hasn’t been specific about what is precisely contained in this memorandum of understanding, instead of saying it's getting closer at one point and then threatening to hammer Iran at another moment. It is increasingly clear that Trump is more desperate about an off-ramp while Iran seems to have an upper hand in the negotiations.

Iran FM Abbas Araghchi says a US-Iran memorandum of understanding is closer than ever, claims strategic victory in the recent war, and says $24 billion in blocked funds could be released.

Araghchi says Iran won the war, claims US ready to unlock $24 billion

Amid political crisis brewing in United Kingdom, Prime Minister Keir Starmer on Friday (June 12) said that he will not “walk away”, ruling out chances of his resignations. Starmer has been facing leadership questions for more than a year. The latest crisis intensified in May after the Labour Party lost approximately 1,500 council seats across England in the local polls. Reform UK emerged as a dominant force with Green Party also gaining strongly in some pockets. Though, Starmer admitted that he has to turn things around for himself and for the country, he said that he “did not want to plunge the country into the chaos of a leadership election.” UK has seen five leaders at the top position since 2016.&nbsp;Also Read: <a href="https://www.wionews.com/trending/6-pms-in-15-years-chief-mouser-larry-the-cat-weighs-in-on-uk-s-political-situation-whether-starmer-stays-or-goes-1778658821267">6 PMs in 15 years: Chief Mouser, Larry the Cat, weighs in on UK's political crisis</a><h2>What Keir Starmer said on stepping down as PM?</h2>In an interview with BBC, Starmer said: “I'm not going to walk away.” Clarifying his intention to continue, he said: “Let me be clear that this is not about personal vanity, it is not about stubbornness, it is about a very deep sense of duty. I was elected to serve this country notwithstanding difficult circumstances - that is what I am doing." Claiming that his government has stabilised the economy, increased defence spending and invested in public services, he added, "Well, that's what I want to do. I recognise that I've got to turn things around. We had a very bad set of elections."When asked whether he could still lead Labour into the next general election, Starmer admitted that his future depended on reversing the party's fortunes. “I need to turn things around,” he said.&nbsp;&nbsp;Further, commenting on his rivals in the leadership race, he said, “For every answer that is being suggested, the question has to be when you're in government - which is about trade-offs - what is it then that you wouldn't do? Because easy answers are by their nature easy. Decisions in government involve trade-offs, so they always have to come with that second question well, if you're going to do that, what is it you wouldn't do?”&nbsp;Also Read: <a href="https://www.wionews.com/world/starmer-delivers-major-speech-amid-uk-leadeship-crisis-from-nationalisation-of-british-steel-to-iran-war-what-he-said-1778480086499">Starmer delivers major speech amid UK leadership crisis: From nationalisation of British steel to Iran war — What he said</a><h2>Resignations so far</h2>In latest list of resignations, UK's Defence Secretary John Healey resigned on June 11 over disagreements surrounding the government's forthcoming Defence Investment Plan, arguing that it failed to provide the resources needed to address security challenges. Hours later, Armed Forces Minister Al Carns also stepped down pointing fingers at inadequate defence spending. Earlier, on May 14, Health Secretary Wes Streeting resigned after declaring that he had lost confidence in Starmer's leadership. In September 2025, Deputy Prime Minister Angela Rayner resigned after an ethics watchdog found she had breached the ministerial code in connection with a personal tax investigation. In addition, four junior ministers—Jess Phillips, Miatta Fahnbulleh, Alex Davies-Jones and Zubir Ahmed—quit in mid-May 2026.&nbsp;&nbsp;&nbsp;&nbsp;

UK Prime Minister Keir Starmer acknowledged Labour's poor election performance and said he must "turn things around" to restore confidence. While expressing his desire to lead Labour into the next general election, Starmer admitted his future depends on reversing the party's fortunes

Amid political crisis brewing in United Kingdom, Prime Minister Keir Starmer on Friday (June 12) said that he will not “walk away”, ruling out chances of his resignations. Starmer has been facing leadership questions for more than a year. The latest crisis intensified in May after the Labour Party lost approximately 1,500 council seats across England in the local polls. Reform UK emerged as a dominant force with Green Party also gaining strongly in some pockets. Though, Starmer admitted that he has to turn things around for himself and for the country, he said that he “did not want to plunge the country into the chaos of a leadership election.” UK has seen five leaders at the top position since 2016. Also Read: 6 PMs in 15 years: Chief Mouser, Larry the Cat, weighs in on UK's political crisis What Keir Starmer said on stepping down as PM? In an interview with BBC, Starmer said: “I'm not going to walk away.” Clarifying his intention to continue, he said: “Let me be clear that this is not about personal vanity, it is not about stubbornness, it is about a very deep sense of duty. I was elected to serve this country notwithstanding difficult circumstances - that is what I am doing." Claiming that his government has stabilised the economy, increased defence spending and invested in public services, he added, "Well, that's what I want to do. I recognise that I've got to turn things around. We had a very bad set of elections." When asked whether he could still lead Labour into the next general election, Starmer admitted that his future depended on reversing the party's fortunes. “I need to turn things around,” he said. Further, commenting on his rivals in the leadership race, he said, “For every answer that is being suggested, the question has to be when you're in government - which is about trade-offs - what is it then that you wouldn't do? Because easy answers are by their nature easy. Decisions in government involve trade-offs, so they always have to come with that second question well, if you're going to do that, what is it you wouldn't do?” Also Read: Starmer delivers major speech amid UK leadership crisis: From nationalisation of British steel to Iran war — What he said Resignations so far In latest list of resignations, UK's Defence Secretary John Healey resigned on June 11 over disagreements surrounding the government's forthcoming Defence Investment Plan, arguing that it failed to provide the resources needed to address security challenges. Hours later, Armed Forces Minister Al Carns also stepped down pointing fingers at inadequate defence spending. Earlier, on May 14, Health Secretary Wes Streeting resigned after declaring that he had lost confidence in Starmer's leadership. In September 2025, Deputy Prime Minister Angela Rayner resigned after an ethics watchdog found she had breached the ministerial code in connection with a personal tax investigation. In addition, four junior ministers—Jess Phillips, Miatta Fahnbulleh, Alex Davies-Jones and Zubir Ahmed—quit in mid-May 2026.

UK Prime Minister Keir Starmer acknowledged Labour's poor election performance and said he must "turn things around" to restore confidence. While expressing his desire to lead Labour into the next general election, Starmer admitted his future depends on reversing the party's fortunes

'I intend to...': UK PM Starmer breaks silence as resignations deepen Britain's political crisis

The United Arab Emirates on Saturday (Jun 13) firmly rejected media reports claiming that the Gulf nation has agreed to transfer billions of dollars in funds to Iran as part of a security and diplomatic arrangement linked to efforts to end the conflict. In a statement, the UAE Foreign Ministry denied the claims, calling them “false and unfounded”. This comes as tensions remain between the US and Iran despite a ceasefire and ongoing talks.The ministry added that the statement “affirmed that these allegations are entirely false and unfounded, stressing that no frozen Iranian funds have been released, transferred or facilitated through the UAE.” It did not provide further details.<h2>What did report claim?</h2>This comes after a Reuters report, citing regional sources, claimed that the UAE has agreed to release a total between $10 billion and $20 billion, more than $3 billion of which had already been delivered. It further added that the move was allegedly tied to a broader understanding aimed at reducing regional tensions and preventing further Iranian attacks on the Gulf state. It remained unclear whether the money originated from frozen Iranian assets held in foreign accounts or from other financial mechanisms.The alleged arrangement emerged as Tehran and Washington reportedly entered the final stages of negotiations aimed at ending the war and addressing sanctions-related issues. Reuters reported that diplomats involved in those discussions have suggested that any future agreement could include the unfreezing of substantial Iranian oil revenues currently held abroad.According to sources cited in the report, Iran would halt missile and drone attacks on the UAE in exchange for financial relief and a gradual rebuilding of bilateral relations. The discussions were also said to involve economic cooperation and intelligence-sharing measures.Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

The UAE has denied reports that it released billions of dollars to Iran, calling the claims false. The report claimed a $10 billion transfer agreement, $3 billion of which had allegedly already been delivered.

The United Arab Emirates on Saturday (Jun 13) firmly rejected media reports claiming that the Gulf nation has agreed to transfer billions of dollars in funds to Iran as part of a security and diplomatic arrangement linked to efforts to end the conflict. In a statement, the UAE Foreign Ministry denied the claims, calling them “false and unfounded”. This comes as tensions remain between the US and Iran despite a ceasefire and ongoing talks. The ministry added that the statement “affirmed that these allegations are entirely false and unfounded, stressing that no frozen Iranian funds have been released, transferred or facilitated through the UAE.” It did not provide further details. What did report claim? This comes after a Reuters report, citing regional sources, claimed that the UAE has agreed to release a total between $10 billion and $20 billion, more than $3 billion of which had already been delivered. It further added that the move was allegedly tied to a broader understanding aimed at reducing regional tensions and preventing further Iranian attacks on the Gulf state. It remained unclear whether the money originated from frozen Iranian assets held in foreign accounts or from other financial mechanisms. The alleged arrangement emerged as Tehran and Washington reportedly entered the final stages of negotiations aimed at ending the war and addressing sanctions-related issues. Reuters reported that diplomats involved in those discussions have suggested that any future agreement could include the unfreezing of substantial Iranian oil revenues currently held abroad. According to sources cited in the report, Iran would halt missile and drone attacks on the UAE in exchange for financial relief and a gradual rebuilding of bilateral relations. The discussions were also said to involve economic cooperation and intelligence-sharing measures. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

The UAE has denied reports that it released billions of dollars to Iran, calling the claims false. The report claimed a $10 billion transfer agreement, $3 billion of which had allegedly already been delivered.

‘Entirely false and unfounded’: UAE rejects reports on funds transfer to Iran

Indian Prime Minister Narendra Modi on Saturday (June 13) departed from New Delhi to France for his official visit to France. He will be participating in the G7 Summit and hold a bilateral meeting with French President Emmanuel Macron. He will also pay a state-visit to Slovakia. The Indian PM will be in France from June 13-14 and in Slovakia from June 14 to June 15. The Prime Minister will attend the in Evian on June 16-17. According to the Prime Minister's Office, the visit will reaffirm India's commitment to deepening its partnership with Slovakia while also advancing broader engagement with the European Union.&nbsp;While departing PM Modi said, “India will always focus on giving voice to the aspirations of the Global South.”

<blockquote class="twitter-tweet" data-media-max-width="560"><a href="https://x.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | PM Modi embarks on an official visit to France and Slovakia; to attend the G7 Summit in Evian <a href="https://t.co/58HdStxfXs">pic.twitter.com/58HdStxfXs</a>&mdash; ANI (@ANI) <a href="https://x.com/ANI/status/2065663039593161037?ref_src=twsrc%5Etfw">June 13, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

Also Read: <a href="https://www.wionews.com/india-news/why-modi-s-invitation-matters-india-s-growing-role-at-the-g7-wion-decodes-1781235334874">Why Modi's invitation matters: India's growing role at the G7 | WION Decodes</a><h3>What's in agenda for France visit?</h3>In France, the PM will stay in Nice and will hold bilateral talks with French President Emmanuel Macron, with both leaders expected to review progress in the India-France Special Global Strategic Partnership announced earlier this year. A key highlight of the visit will be the joint inauguration of the 'Bharat Innovates' event, which will bring together leading startups, innovators and venture capital funds from India, France and other countries. Organised as part of the India-France Year of Innovation, the initiative aims to strengthen cooperation in technology, entrepreneurship and innovation. On June 18, he will travel to Paris to attend VivaTech 2026, Europe's largest technology and startup event, and hold additional bilateral engagements. He is also expected to interact with members of the Indian diaspora in France.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/india-s-ease-of-doing-business-reforms-has-shined-under-pm-modi-in-last-12-years-1781030496602">Modi government at 12: How ease of doing business in India changed over a decade</a><h3>What's in agenda for Slovakia visit?</h3>Solvakia visit is a crucial one as this will be a first one by any Indian Prime Minister. Modi will undertake the state visit on the invitation of Slovak Prime Minister Robert Fico. During the visit, Modi will hold talks with Prime Minister Fico and meet Slovak President Peter Pellegrini. Discussions are expected to focus on expanding cooperation in trade, investment, automobile manufacturing, railway infrastructure and other key sectors.The visit follows a series of high-level exchanges between the two countries, including President Droupadi Murmu's visit to Slovakia in 2025 and President Pellegrini's visit to India earlier this year.

Prime Minister Narendra Modi will visit France and Slovakia from June 13-18 before attending the G7 Summit in Evian. The trip includes meetings with President Macron, the launch of Bharat Innovates, Slovakia's first visit by an Indian PM, and participation in VivaTech 2026 in Paris.

Indian Prime Minister Narendra Modi on Saturday (June 13) departed from New Delhi to France for his official visit to France. He will be participating in the G7 Summit and hold a bilateral meeting with French President Emmanuel Macron. He will also pay a state-visit to Slovakia. The Indian PM will be in France from June 13-14 and in Slovakia from June 14 to June 15. The Prime Minister will attend the in Evian on June 16-17. According to the Prime Minister's Office, the visit will reaffirm India's commitment to deepening its partnership with Slovakia while also advancing broader engagement with the European Union. While departing PM Modi said, “India will always focus on giving voice to the aspirations of the Global South.”

Prime Minister Narendra Modi will visit France and Slovakia from June 13-18 before attending the G7 Summit in Evian. The trip includes meetings with President Macron, the launch of Bharat Innovates, Slovakia's first visit by an Indian PM, and participation in VivaTech 2026 in Paris.

'Focus on Global South': PM Modi departs for high-stakes France, Slovakia visit; set to participate in G7 Summit

An Indian-origin man has been sentenced to 34 years in prison after being convicted of kidnap, torture and rape offences in London on Friday (June 12). The man has been identified as Gagandeep Singh, aged 34. He has been found guilty of two counts of rape, false imprisonment, causing grievous bodily harm with intent and kidnap in a February case. The trial was conducted in Isleworth Crown Court. The court ruled that Singh will serve a 34-year sentence, comprising 28 years in custody followed by a six-year extended licence period under strict restrictions. The court also said that the man cannot be considered for parole until he has served at least 18 years, or two-thirds of the custodial term.&nbsp;Also Read: <a href="https://www.wionews.com/world/pakistan-asylum-seeker-sentenced-to-10-years-in-jail-for-raping-uk-woman-had-asked-did-you-enjoy-that-1781250098255">Pakistan asylum seeker sentenced to 10 years in jail for raping UK woman, had asked 'did you enjoy that'</a><h2>What is the case?</h2>According to evidence presented in court, the victim, a 24-year-old woman, was abducted and taken to a property in Hanwell, west London, where she was subjected to prolonged physical and sexual abuse. The court heard that the woman became suspicious after being asked to carry a suitcase containing unknown items from Thailand to the UK in June 2024. After refusing the request, she arrived at Birmingham Airport, where masked men allegedly forced her into a vehicle and transported her to London.&nbsp;Also Read: <a href="https://www.wionews.com/world/indian-origin-couple-terminally-ill-son-die-after-falling-from-london-high-rise-suicide-suspected-who-are-they-1781063857781/amp">Indian-origin couple, terminally-ill son die after falling from London high rise, suicide suspected: Who are they</a>&nbsp;Prosecutors said that during her captivity, Singh raped her twice and subjected her to more than a day of torture. The victim was allegedly punched, beaten, stripped, whipped and burned before eventually being released. She was also threatened and warned not to report the crimes to authorities.Police said the victim was initially reluctant to come forward because of the trauma she had endured and fears for her safety. However, with support from her mother, who preserved key evidence and reported the matter to police, investigators were able to build a case that led to Singh's arrest and conviction.&nbsp;Detective Constable Seetara Abdul of the Metropolitan Police described the victim's ordeal as "unimaginable" and praised her courage in helping bring her attacker to justice. Singh was ultimately convicted of rape, kidnap, false imprisonment and causing grievous bodily harm with intent.

Indian-origin Gagandeep Singh has been sentenced to 34 years in prison in London for kidnapping, torturing and raping a 24-year-old woman. Convicted on multiple charges, Singh will serve at least 18 years before parole consideration. Police praised the victim's courage in securing justice.

An Indian-origin man has been sentenced to 34 years in prison after being convicted of kidnap, torture and rape offences in London on Friday (June 12). The man has been identified as Gagandeep Singh, aged 34. He has been found guilty of two counts of rape, false imprisonment, causing grievous bodily harm with intent and kidnap in a February case. The trial was conducted in Isleworth Crown Court. The court ruled that Singh will serve a 34-year sentence, comprising 28 years in custody followed by a six-year extended licence period under strict restrictions. The court also said that the man cannot be considered for parole until he has served at least 18 years, or two-thirds of the custodial term. Also Read: Pakistan asylum seeker sentenced to 10 years in jail for raping UK woman, had asked 'did you enjoy that' What is the case? According to evidence presented in court, the victim, a 24-year-old woman, was abducted and taken to a property in Hanwell, west London, where she was subjected to prolonged physical and sexual abuse. The court heard that the woman became suspicious after being asked to carry a suitcase containing unknown items from Thailand to the UK in June 2024. After refusing the request, she arrived at Birmingham Airport, where masked men allegedly forced her into a vehicle and transported her to London. Also Read: Indian-origin couple, terminally-ill son die after falling from London high rise, suicide suspected: Who are they Prosecutors said that during her captivity, Singh raped her twice and subjected her to more than a day of torture. The victim was allegedly punched, beaten, stripped, whipped and burned before eventually being released. She was also threatened and warned not to report the crimes to authorities. Police said the victim was initially reluctant to come forward because of the trauma she had endured and fears for her safety. However, with support from her mother, who preserved key evidence and reported the matter to police, investigators were able to build a case that led to Singh's arrest and conviction. Detective Constable Seetara Abdul of the Metropolitan Police described the victim's ordeal as "unimaginable" and praised her courage in helping bring her attacker to justice. Singh was ultimately convicted of rape, kidnap, false imprisonment and causing grievous bodily harm with intent.

Indian-origin Gagandeep Singh has been sentenced to 34 years in prison in London for kidnapping, torturing and raping a 24-year-old woman. Convicted on multiple charges, Singh will serve at least 18 years before parole consideration. Police praised the victim's courage in securing justice.

'Beaten, stripped, whipped': Indian-origin man gets 34 years in jail for raping UK woman

A decomposing body was discovered inside the trunk of an abandoned vehicle parked near the stadium where Iran's national football team is training ahead of the FIFA World Cup, authorities said on Friday (Jun 12). The grisly discovery was made in a supermarket parking lot opposite Caliente Stadium in the Mexican border city of Tijuana, where Iran has set up its training base for the tournament.Also read | <a href="https://www.wionews.com/sports/fifa-2026-opening-ceremony-and-first-game-fan-fest-in-mexico-city-under-cloud-of-protest-1781155832671">FIFA 2026 | Opening ceremony and first game fan fest in Mexico City under cloud of protest</a><h2>How was the rotting body discovered?</h2>AFP, citing its journalists at the scene, said that police found the rotting body in the trunk of a grey Toyota SUV with California licence plates. Videos from the scene show forensic specialists in white protective suits examining and removing the body.According to the Tijuana prosecutor's office, a police patrol located the vehicle after reports from the area. "Upon inspecting the vehicle, they found a person wrapped in a black bag in the trunk, showing signs of violence," a spokesperson said.A security guard at the supermarket told the news agency that they were alerted to the vehicle after passersby reported a strong, foul smell. "That morning they found out because it smelled bad," the guard said.Also read | <a href="https://www.wionews.com/sports/fifa-2026-why-haiti-asked-to-change-jersey-on-eve-of-football-world-cup-1781150472672">FIFA 2026 | Haiti asked to change jersey on eve of football World Cup</a><h2>Dead body was locked in SUV for days</h2>Authorities believe the SUV had been abandoned since Wednesday. With temperatures in Tijuana reaching 28 degrees Celsius, authorities suspect that the body had been left inside the vehicle for several days before being discovered.Prosecutors have launched an investigation to identify the victim and determine the circumstances of the killing.<h2>Is the rotting dead body linked to the Iran World Cup team?</h2>There was no immediate indication that the discovery was linked to the Iranian delegation or the World Cup. However, notably, the incident unfolded just metres from the stadium where Iran's World Cup squad has been training under heightened security. On Friday, the team's convoy departed the stadium only minutes after forensic personnel removed the body from the scene.Iran had originally planned to hold its pre-tournament camp in Arizona but shifted its base to Mexico amid hostilities with the United States. Since arriving in Tijuana, the team has travelled between its hotel and training ground under armed escort.&nbsp; &nbsp;

A decomposing body wrapped in a black bag was discovered inside an abandoned SUV parked near Iran's FIFA World Cup training facility in Tijuana, Mexico. Here's what investigators have revealed so far.

A decomposing body was discovered inside the trunk of an abandoned vehicle parked near the stadium where Iran's national football team is training ahead of the FIFA World Cup, authorities said on Friday (Jun 12). The grisly discovery was made in a supermarket parking lot opposite Caliente Stadium in the Mexican border city of Tijuana, where Iran has set up its training base for the tournament. Also read | FIFA 2026 | Opening ceremony and first game fan fest in Mexico City under cloud of protest How was the rotting body discovered? AFP, citing its journalists at the scene, said that police found the rotting body in the trunk of a grey Toyota SUV with California licence plates. Videos from the scene show forensic specialists in white protective suits examining and removing the body. According to the Tijuana prosecutor's office, a police patrol located the vehicle after reports from the area. "Upon inspecting the vehicle, they found a person wrapped in a black bag in the trunk, showing signs of violence," a spokesperson said. A security guard at the supermarket told the news agency that they were alerted to the vehicle after passersby reported a strong, foul smell. "That morning they found out because it smelled bad," the guard said. Also read | FIFA 2026 | Haiti asked to change jersey on eve of football World Cup Dead body was locked in SUV for days Authorities believe the SUV had been abandoned since Wednesday. With temperatures in Tijuana reaching 28 degrees Celsius, authorities suspect that the body had been left inside the vehicle for several days before being discovered. Prosecutors have launched an investigation to identify the victim and determine the circumstances of the killing. Is the rotting dead body linked to the Iran World Cup team? There was no immediate indication that the discovery was linked to the Iranian delegation or the World Cup. However, notably, the incident unfolded just metres from the stadium where Iran's World Cup squad has been training under heightened security. On Friday, the team's convoy departed the stadium only minutes after forensic personnel removed the body from the scene. Iran had originally planned to hold its pre-tournament camp in Arizona but shifted its base to Mexico amid hostilities with the United States. Since arriving in Tijuana, the team has travelled between its hotel and training ground under armed escort.

A decomposing body wrapped in a black bag was discovered inside an abandoned SUV parked near Iran's FIFA World Cup training facility in Tijuana, Mexico. Here's what investigators have revealed so far.

'Bad smell' leads to discovery of rotting body near Iran team's FIFA World Cup camp in Tijuana

Amid tensed situation in the international waters surrounding the Strait of Hormuz, it was reported on Saturday (June 13) that another ship, Liaki Freedom, with Indian crew members aboard was reportedly attacked. However, &nbsp;the Ministry of External Affairs has confirmed that the report is ‘false’ and all Indian crew members aboard were “safe.” Indian &nbsp;crew members have been caught in the crossfire between the US and Iran since the war began and both sides blocked the Strait of Hormuz.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/amid-hormuz-crisis-indian-nationals-on-shadow-fleet-raise-concerns-for-delhi-1781198804347">Amid Hormuz crisis, Indian nationals on shadow fleet raise concerns for Delhi</a>&nbsp;<h2>What was the claim?</h2>According to reports that floated on June 13, missiles hit a ship named Liaki Freedom that was operated by Indian crew. &nbsp;The incident reportedly took place in Gulf of Oman. Soon after the incident, the sailors got in touch with Director General of Shipping in India. While some reported that the nature of the incident was not known others said that at least three were allegedly killed in the reported strike.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/us-navy-disables-sanctioned-tanker-off-oman-indian-crew-rescued-1780937041967">US Navy disables sanctioned tanker off Oman, Indian crew rescued</a><h2>What the MEA said?</h2>In a statement, the MEA said, “We have spoken with the Master of the vessel Liaki Freedom, who has confirmed that all crew members are safe and that the reported information &nbsp;of the vessel with Indian crew hit by military strike is false.” Soon after the statement, the MEA on its Fact Check X handle cautioned against fake news and said “Please stay alert against such false and baseless claims and posts on social media.”&nbsp;

<blockquote class="twitter-tweet">Fake News Alert! Please stay alert against such false and baseless claims and posts on social media. <a href="https://t.co/Xn8I65LdKu">pic.twitter.com/Xn8I65LdKu</a>&mdash; MEA FactCheck (@MEAFactCheck) <a href="https://x.com/MEAFactCheck/status/2065636866314141862?ref_src=twsrc%5Etfw">June 13, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

<h2>Has Indian crew been attacked earlier?</h2>The reported incident - which has now been called ‘false’ - comes after three Indian ships were attacked in Oman by the US leading to the death of at least three Indian seafarers. India summoned the top US diplomat in New Delhi to lodge a "strong protest" after the US military's action. All three casualties occurred during the US military strike on the MT Settebello and seafarers are identified as Patnala Suresh, Shivanand Chaurasiya, Aditya Sharma.&nbsp;

Reports claiming that the vessel Liaki Freedom, carrying Indian crew members, was hit by missiles in the Gulf of Oman have been dismissed by the Ministry of External Affairs. The MEA confirmed all crew members are safe and termed reports of a military strike on the ship as false.

Amid tensed situation in the international waters surrounding the Strait of Hormuz, it was reported on Saturday (June 13) that another ship, Liaki Freedom, with Indian crew members aboard was reportedly attacked. However, the Ministry of External Affairs has confirmed that the report is ‘false’ and all Indian crew members aboard were “safe.” Indian crew members have been caught in the crossfire between the US and Iran since the war began and both sides blocked the Strait of Hormuz. Also Read: Amid Hormuz crisis, Indian nationals on shadow fleet raise concerns for Delhi What was the claim? According to reports that floated on June 13, missiles hit a ship named Liaki Freedom that was operated by Indian crew. The incident reportedly took place in Gulf of Oman. Soon after the incident, the sailors got in touch with Director General of Shipping in India. While some reported that the nature of the incident was not known others said that at least three were allegedly killed in the reported strike. Also Read: US Navy disables sanctioned tanker off Oman, Indian crew rescued What the MEA said? In a statement, the MEA said, “We have spoken with the Master of the vessel Liaki Freedom, who has confirmed that all crew members are safe and that the reported information of the vessel with Indian crew hit by military strike is false.” Soon after the statement, the MEA on its Fact Check X handle cautioned against fake news and said “Please stay alert against such false and baseless claims and posts on social media.”

Reports claiming that the vessel Liaki Freedom, carrying Indian crew members, was hit by missiles in the Gulf of Oman have been dismissed by the Ministry of External Affairs. The MEA confirmed all crew members are safe and termed reports of a military strike on the ship as false.

Fact Check: Indian crew members aboard Liaki Freedom vessel attacked by missiles? MEA says...

Oil prices fell sharply on Friday (Jun 12) as renewed hopes of a peace agreement between Iran and the United States raised expectations that disruptions to global energy supplies could soon ease. Global benchmark Brent crude dropped below $86 a barrel, its lowest level since the early stages of the Iran conflict, before recovering some losses to trade above $87. The decline came after Iranian and US officials signalled that negotiations to end the war were making significant progress.Also read | <a href="https://www.wionews.com/photos/world-s-safest-countries-in-2026-did-india-make-it-to-the-top-10-global-peace-index-2026-1781246718561">World's Safest Countries in 2026: Did India make it to the top 10? Here's where it ranks</a><h2>How the price of Brent crude surged since February</h2>The conflict between the US, Israel and Iran has rattled global energy markets for months. Brent crude had surged from around $72 a barrel before the outbreak of hostilities to as high as $126 in April, as fears grew over the security of oil and gas shipments from the Middle East. The spike in energy costs has weighed on economic growth worldwide while fuelling inflationary pressures.<h2>Positive market reactions follow latest diplomatic news</h2>Markets responded positively to the latest diplomatic developments. Britain's FTSE 100 climbed 1.6 per cent, while Germany's DAX and France's CAC 40 both gained nearly 2 per cent. US stocks also moved higher as investors bet that a breakthrough could reduce one of the biggest sources of uncertainty facing the global economy.Also read | <a href="https://www.wionews.com/world/iran-delays-ali-khamenei-funeral-when-will-the-slain-supreme-leader-be-laid-to-rest-1781227414587">Iran again delays Ali Khamenei's funeral: Why the slain supreme leader remains unburied after 100 days</a>Government bond markets also rallied. Yields on 10-year UK government bonds, known as gilts, fell below 4.8 per cent, their lowest level since April 20, reflecting expectations that lower energy prices could help cool inflation.The optimism followed remarks from officials on both sides suggesting that an agreement may be within reach. Iranian Foreign Minister Abbas Araghchi said the proposed "Islamabad Memorandum of Understanding", named after the Pakistani capital that hosted earlier talks, was closer than ever to being finalised.Pakistan, which has been acting as a mediator, also expressed confidence that a deal could be achieved.

Global oil prices fell sharply after Iranian and US officials signalled progress in negotiations to end the conflict that has disrupted energy markets for months. Brent crude briefly dropped below $86 a barrel as investors bet that risks to Middle Eastern oil supplies could soon ease.

Oil prices fell sharply on Friday (Jun 12) as renewed hopes of a peace agreement between Iran and the United States raised expectations that disruptions to global energy supplies could soon ease. Global benchmark Brent crude dropped below $86 a barrel, its lowest level since the early stages of the Iran conflict, before recovering some losses to trade above $87. The decline came after Iranian and US officials signalled that negotiations to end the war were making significant progress. Also read | World's Safest Countries in 2026: Did India make it to the top 10? Here's where it ranks How the price of Brent crude surged since February The conflict between the US, Israel and Iran has rattled global energy markets for months. Brent crude had surged from around $72 a barrel before the outbreak of hostilities to as high as $126 in April, as fears grew over the security of oil and gas shipments from the Middle East. The spike in energy costs has weighed on economic growth worldwide while fuelling inflationary pressures. Positive market reactions follow latest diplomatic news Markets responded positively to the latest diplomatic developments. Britain's FTSE 100 climbed 1.6 per cent, while Germany's DAX and France's CAC 40 both gained nearly 2 per cent. US stocks also moved higher as investors bet that a breakthrough could reduce one of the biggest sources of uncertainty facing the global economy. Also read | Iran again delays Ali Khamenei's funeral: Why the slain supreme leader remains unburied after 100 days Government bond markets also rallied. Yields on 10-year UK government bonds, known as gilts, fell below 4.8 per cent, their lowest level since April 20, reflecting expectations that lower energy prices could help cool inflation. The optimism followed remarks from officials on both sides suggesting that an agreement may be within reach. Iranian Foreign Minister Abbas Araghchi said the proposed "Islamabad Memorandum of Understanding", named after the Pakistani capital that hosted earlier talks, was closer than ever to being finalised. Pakistan, which has been acting as a mediator, also expressed confidence that a deal could be achieved.

Global oil prices fell sharply after Iranian and US officials signalled progress in negotiations to end the conflict that has disrupted energy markets for months. Brent crude briefly dropped below $86 a barrel as investors bet that risks to Middle Eastern oil supplies could soon ease.

Oil prices tumble as Iran, US signal breakthrough in war-ending talks

The United States said Iran launched multiple one-way attack drones targeting commercial ships transiting the Strait of Hormuz, with US forces intercepting and destroying all of them.&nbsp;In a post on X, CENTCOM said, "Iran launched multiple one-way attack drones in an attempt to strike commercial ships transiting the Strait of Hormuz. U.S. forces have downed all of them in recent hours as traffic flow through the strait continues unimpeded".&nbsp;

<blockquote class="twitter-tweet">Iran launched multiple one-way attack drones in an attempt to strike commercial ships transiting the Strait of Hormuz. U.S. forces have downed all of them in recent hours as traffic flow through the strait continues unimpeded. The international trade corridor remains open for…&mdash; U.S. Central Command (@CENTCOM) <a href="https://x.com/CENTCOM/status/2065608055790637301?ref_src=twsrc%5Etfw">June 13, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

The US added that shipping traffic through the Strait of Hormuz remained unaffected despite the attempted attack.&nbsp;The development comes as President Donald Trump said he believes a deal with Iran could be finalised over the weekend or on Monday.&nbsp;&nbsp;Earlier, the US president announced that he had cancelled planned strikes against Iran after talks with Tehran reached what he described as a crucial stage.&nbsp;"Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have... cancelled the scheduled strikes and bombings against Iran this evening," Trump posted on Truth Social.&nbsp;Meanwhile, on Friday, Iranian Foreign Minister Seyed Abbas Araghchi said that issues related to the Strait of Hormuz and the lifting of the US naval blockade against Iran were included in a proposed Memorandum of Understanding that could soon be signed.&nbsp;Araghchi also said the proposed agreement would bring an end to conflicts across several fronts, including in Lebanon.&nbsp;“The MoU will announce the end of the war on all fronts, including in Lebanon. We will never leave Lebanon alone,” the Iranian foreign minister said.&nbsp;(Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.)

The US Central Command (CENTCOM) claimed shipping traffic through the Strait of Hormuz remained unaffected despite the attempted attack.

The United States said Iran launched multiple one-way attack drones targeting commercial ships transiting the Strait of Hormuz, with US forces intercepting and destroying all of them. In a post on X, CENTCOM said, "Iran launched multiple one-way attack drones in an attempt to strike commercial ships transiting the Strait of Hormuz. U.S. forces have downed all of them in recent hours as traffic flow through the strait continues unimpeded".

The US Central Command (CENTCOM) claimed shipping traffic through the Strait of Hormuz remained unaffected despite the attempted attack.

US says it thwarted Iranian drone attack on commercial ships in Strait of Hormuz

US President Donald Trump on Friday (Jun 12) took to social media to announce that American forces had killed Héctor Rusthenford Guerrero Flores, better known as Niño Guerrero, the alleged leader of Venezuela's notorious Tren de Aragua gang, in what he described as a "swift and lethal" military operation.In a lengthy post on Truth Social late Friday, Trump said the strike was carried out by the US Southern Command and was coordinated "closely with our friends in Venezuela". He claimed the operation had eliminated the man he called the leader of "one of the most bloodthirsty terrorist organisations on planet Earth."The White House, Pentagon and Southern Command had not immediately released additional details about the operation, including where the strike took place or how it was carried out.Also read | <a href="https://www.wionews.com/photos/world-s-safest-countries-in-2026-did-india-make-it-to-the-top-10-global-peace-index-2026-1781246718561">World's Safest Countries in 2026: Did India make it to the top 10? Here's where it ranks</a><h2>Trump shares footage of lethal kinetic strike</h2>Trump also shared footage that appeared to show a building being struck, with a rooftop engulfed in smoke and debris moments after impact. The video was posted alongside his announcement, though independent verification of the footage was not immediately available. Watch the video here:

The US president also used the announcement to highlight his administration's broader campaign against transnational criminal groups. He linked the operation to his pledge to crack down on illegal immigration and target gangs that Washington has designated as foreign terrorist organisations. "Early in my Administration, I delivered on my promise to designate Tren de Aragua as a Foreign Terrorist Organisation, deport thousands of evil criminals, and wage war against the Cartels, who have long been waging war against our Citizens, while weak leaders left America helpless and defensive."Also read | <a href="https://www.wionews.com/world/iran-delays-ali-khamenei-funeral-when-will-the-slain-supreme-leader-be-laid-to-rest-1781227414587">Iran again delays Ali Khamenei's funeral: Why the slain supreme leader remains unburied after 100 days</a><h2>What is Tren de Aragua?</h2>Tren de Aragua emerged from Venezuela's prison system and has grown into one of Latin America's most feared criminal networks. US authorities have accused the group of involvement in crimes ranging from drug trafficking and extortion to kidnappings and murders across multiple countries. Guerrero had previously been charged by US prosecutors with racketeering conspiracy and providing material support to terrorists.

Donald Trump says US forces killed Héctor "Niño" Guerrero Flores, the alleged leader of Venezuela's Tren de Aragua gang. Here's who he was, why he was wanted and what Tren de Aragua is.

US President Donald Trump on Friday (Jun 12) took to social media to announce that American forces had killed Héctor Rusthenford Guerrero Flores, better known as Niño Guerrero, the alleged leader of Venezuela's notorious Tren de Aragua gang, in what he described as a "swift and lethal" military operation. In a lengthy post on Truth Social late Friday, Trump said the strike was carried out by the US Southern Command and was coordinated "closely with our friends in Venezuela". He claimed the operation had eliminated the man he called the leader of "one of the most bloodthirsty terrorist organisations on planet Earth." The White House, Pentagon and Southern Command had not immediately released additional details about the operation, including where the strike took place or how it was carried out. Also read | World's Safest Countries in 2026: Did India make it to the top 10? Here's where it ranks Trump shares footage of lethal kinetic strike Trump also shared footage that appeared to show a building being struck, with a rooftop engulfed in smoke and debris moments after impact. The video was posted alongside his announcement, though independent verification of the footage was not immediately available. Watch the video here:

Donald Trump says US forces killed Héctor "Niño" Guerrero Flores, the alleged leader of Venezuela's Tren de Aragua gang. Here's who he was, why he was wanted and what Tren de Aragua is.

Who is Niño Guerrero? Trump announces leader of 'bloodthirsty terrorist organisation' Tren de Aragua killed in 'swift and lethal' US strike

A US deportation flight carrying migrants from countries including Iran, Afghanistan, Turkey and Georgia landed in the Central African Republic (CAR) on Friday (Jun 12), according to lawyers and activists familiar with the operation. The flight marks the latest example of the Trump administration's increasingly controversial practice of deporting migrants to third countries with which they have no apparent connection.The aircraft departed from Alexandria, Louisiana, on Thursday evening and made a scheduled stop in Ghana before arriving in the Central African capital of Bangui later on Friday, according to ICE Flight Monitor, a tracking project affiliated with Human Rights First.Also read | <a href="https://www.wionews.com/world/us-plans-to-deport-iranian-migrants-to-central-african-republic-despite-persecution-torture-concerns-1781223346924">US plans to deport Iranian migrants to Central African Republic despite persecution, torture concerns</a><h2>Deported despite 'withholding of removal' protection</h2>Lawyers involved in the case told AFP that several of those on board had previously received "withholding of removal", a form of legal protection that prevents deportation to a person's home country if they are deemed likely to face persecution or danger there. While the status offers fewer protections than asylum, it has historically shielded recipients from being returned to countries they fled.Among those reportedly scheduled for removal were at least two Iranian women. Their attorney, Emily Trostle, said there were concerns that deportees could eventually be sent back to their countries of origin through onward removals.The deportation comes as the Trump administration continues to widen both the scope of its immigration crackdown and the range of destinations used for removals. Washington maintains that migrants granted withholding of removal cannot be sent to their home countries, but can legally be deported elsewhere.Also read | <a href="https://www.wionews.com/photos/world-s-safest-countries-in-2026-did-india-make-it-to-the-top-10-global-peace-index-2026-1781246718561">World's Safest Countries in 2026: Did India make it to the top 10? Here's where it ranks</a><h2>'Do not...for any reason': What will happen to the deportees in Central African Republic?</h2>Questions remain over what will happen to the deportees in the Central African Republic, one of the world's poorest and most fragile nations. The US State Department currently advises Americans not to travel to the country "for any reason" due to security concerns. "Do not travel to Central African Republic for any reason," reads the advisory.Although security has improved in recent years with support from UN peacekeepers, Rwandan troops and Russian-linked Wagner forces, armed groups continue to operate across parts of the mineral-rich nation.As per the report, little is known about the agreement that allowed the transfer. Central African authorities have not publicly explained whether the migrants will remain in the country, be allowed to seek asylum, or be moved elsewhere. Washington argues that the "withholding of removal" only protects migrants from being sent to their home countries. However, some people have been further deported to their home countries, where they face persecution and torture threats, from Ghana and Equatorial Guinea, another African hub. &nbsp;

A US deportation flight carrying migrants from Iran, Afghanistan, Turkey has arrived in Central African Republic. Several deportees reportedly held legal protections preventing their return home, raising fresh concerns about Trump administration's expanding third-country deportation policy.

A US deportation flight carrying migrants from countries including Iran, Afghanistan, Turkey and Georgia landed in the Central African Republic (CAR) on Friday (Jun 12), according to lawyers and activists familiar with the operation. The flight marks the latest example of the Trump administration's increasingly controversial practice of deporting migrants to third countries with which they have no apparent connection. The aircraft departed from Alexandria, Louisiana, on Thursday evening and made a scheduled stop in Ghana before arriving in the Central African capital of Bangui later on Friday, according to ICE Flight Monitor, a tracking project affiliated with Human Rights First. Also read | US plans to deport Iranian migrants to Central African Republic despite persecution, torture concerns Deported despite 'withholding of removal' protection Lawyers involved in the case told AFP that several of those on board had previously received "withholding of removal", a form of legal protection that prevents deportation to a person's home country if they are deemed likely to face persecution or danger there. While the status offers fewer protections than asylum, it has historically shielded recipients from being returned to countries they fled. Among those reportedly scheduled for removal were at least two Iranian women. Their attorney, Emily Trostle, said there were concerns that deportees could eventually be sent back to their countries of origin through onward removals. The deportation comes as the Trump administration continues to widen both the scope of its immigration crackdown and the range of destinations used for removals. Washington maintains that migrants granted withholding of removal cannot be sent to their home countries, but can legally be deported elsewhere. Also read | World's Safest Countries in 2026: Did India make it to the top 10? Here's where it ranks 'Do not...for any reason': What will happen to the deportees in Central African Republic? Questions remain over what will happen to the deportees in the Central African Republic, one of the world's poorest and most fragile nations. The US State Department currently advises Americans not to travel to the country "for any reason" due to security concerns. "Do not travel to Central African Republic for any reason," reads the advisory. Although security has improved in recent years with support from UN peacekeepers, Rwandan troops and Russian-linked Wagner forces, armed groups continue to operate across parts of the mineral-rich nation. As per the report, little is known about the agreement that allowed the transfer. Central African authorities have not publicly explained whether the migrants will remain in the country, be allowed to seek asylum, or be moved elsewhere. Washington argues that the "withholding of removal" only protects migrants from being sent to their home countries. However, some people have been further deported to their home countries, where they face persecution and torture threats, from Ghana and Equatorial Guinea, another African hub.

A US deportation flight carrying migrants from Iran, Afghanistan, Turkey has arrived in Central African Republic. Several deportees reportedly held legal protections preventing their return home, raising fresh concerns about Trump administration's expanding third-country deportation policy.

Trump administration deports Iranian migrants to nation US warns against visiting 'for any reason'

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Fact Check: Another vessel with Indian crew members attacked? MEA says...

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