A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk’s ambitions to establish a base on the Moon, place data centres the size of several football pitches into orbit, and possibly one day send a human to Mars.
ADVERTISEMENT
ADVERTISEMENT
The sources spoke on condition of anonymity because they were not authorised to discuss the confidential registration with the Securities and Exchange Commission publicly.
SpaceX did not immediately respond to a request for comment.
Exactly how much SpaceX plans to raise has not been disclosed, but the figure is reportedly as high as $75bn (€65bn). At that level, the offering would easily surpass the $29bn (€25bn) raised by Saudi Aramco in its 2019 IPO.
The offering, which could come as early as June, may value SpaceX at around $1.5 trillion — nearly double its valuation in December, when some minority shareholders sold their stakes, according to research firm PitchBook, prior to an acquisition that increased the company’s size.
Musk currently owns about 42% of SpaceX, according to PitchBook, although that figure will change after the IPO as new shares are issued. In any case, he is likely to surpass the trillion-dollar mark, as he is already close. Forbes estimates Musk’s net worth at roughly $823 billion.
In addition to building reusable rockets to launch astronauts and equipment into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company has also recently brought under its umbrella two other Musk businesses: social media platform X (formerly Twitter) and artificial intelligence firm xAI, in a controversial transaction, as both the buyer and seller were controlled by him.
SpaceX has become the leading commercial launch company in its industry, sending payloads into orbit for customers worldwide. However, it has also benefited from significant public funding, raising concerns about potential conflicts of interest, given that Musk was a major donor to President Donald Trump’s campaign and remains a strong supporter.
Over the past five years, SpaceX has secured $6bn (€5.2bn) in contracts from NASA, the Department of Defense and other US government agencies, according to USAspending.gov.
Among current SpaceX investors is Donald Trump Jr, the president’s eldest son, who owns shares through 1789 Capital. The venture capital firm made him a partner shortly after his father won a second term and has since invested in federal contractors seeking government business.
The White House and Trump have repeatedly denied any conflicts of interest between his role as president and his family’s business dealings.
Dodgers fans generally hiss at the mention of Frank McCourt — the former owner took the team into bankruptcy, after all — but today is about tipping our cap to him.
Without him, fans would have no option to take public transit directly to Dodger Stadium. On his watch, the Dodgers helped secure government funding for the shuttle buses that provide free rides between Union Station and Dodger Stadium.
Sixteen years later, beyond the addition of a sister shuttle from the South Bay, that’s it.
The Dodgers boast the best team in the world. Shohei Ohtani is a tourist attraction. So is their historic ballpark. The Dodgers sold a record 4 million tickets last year.
In 1990, the last year Fernando Valenzuela pitched for the Dodgers, Los Angeles County unveiled a report that suggested ways to improve access to Dodger Stadium “for those who cannot or do not wish to drive.”
The options: a monorail, people mover, or light rail extension from the Chinatown Metro station; the shuttle buses that McCourt and Metro launched 20 years later; the gondola that McCourt first pitched in 2018 and continues to pursue; and a walking path.
A passenger exits the Chinatown Metro station in January.
(Etienne Laurent/For The Times)
L.A. is all about the car. You will most likely drive to Dodger Stadium, and so will your children.
For decades, the Dodgers have promised to ease traffic by adding amenities that encourage fans to come early and stick around after the game. That has not materialized, and notorious congestion within and around the stadium is as much a tradition as Dodger Dogs.
What if you could walk, for real? What if you could head into the stadium along a beautifully landscaped and wide Dodgers-themed path, a blue ribbon of fans coalescing into a community, with decorations and food carts, shade and lighting, and chants of “Let’s Go Dodgers!” along the way?
You can walk now, sort of. It’s about a mile.
There’s a map at the Chinatown Metro station displaying the pedestrian path toward Dodger Stadium.
(Etienne Laurent/For The Times)
At one end of the Chinatown station, there is a map with a pedestrian route, in a glass case that faces away from Dodger Stadium. If you walk out of the station at the other end, or if you just start heading in the direction of Dodger Stadium, good luck finding the map.
There are Metro signs leading you back to the station from Dodger Stadium, but none leading you along the route there.
The Dodgers actually would prefer you did not take that route, or at least the last part of it. I walked it with Alissa Walker, whose Torched newsletter is the go-to place to learn how major sporting events impact the everyday lives of Angelenos.
We entered the Dodger Stadium property at an intersection with no crosswalks, where cars enter and exit the 110 freeway. We stood atop a dirt patch next to a crumbling curb.
“To go a very short distance safely with a feeling that you’re not going to die,” Walker said, “is very difficult.”
With Game 3 of the World Series underway at Dodger Stadium last October, a few folks scurried across a pedestrian bridge with LED lights and blue glow sticks.
The bridge connects Chinatown with Dodger Stadium, traversing the 110. Without this bridge, there is no walking path to Dodger Stadium.
“Our goal was, just by adding some lights, to make the really dark path at the top of the bridge at night a little bit brighter, so that it felt a little less scary,” transit advocate Jeremy Stutes said, “and to add a little bit of fun and whimsy.”
Glow sticks forming the “LA” logo of the Dodgers were placed on a pedestrian bridge over the 110 Freeway connecting Chinatown to the area where Dodger Stadium is located during the World Series and for several months after. As of last week, the glow sticks were no longer there.
(Etienne Laurent/For The Times)
From the Chinatown Metro station, the bridge is three blocks up College Street and one block down Yale Street. It’s an easy walk, and for now you pass an elementary school, a church, a row of Chinese restaurants, a dirt lot where a hospital once stood, parking lots, and an auto repair facility with a Dodgers flag hung on a wall.
When I did the walk last week, the trash at the foot of the bridge included a plastic cup, socks, a piece of rotting fruit, a half-full bottle of tequila, and half of a turkey sandwich, peeking out from torn plastic wrapping that indicated the sandwich had gone bad three days earlier. On the bridge: shopping bags, a pair of flip-flops, stray clothes scattered at one end, and graffiti everywhere.
A sign painted on the sidewalk indicates the direction toward the Chinatown Metro station.
(Etienne Laurent/For The Times)
That was the point those volunteers made last October: Clean up the bridge and light up the bridge — as they did for three days — and fans will walk there.
“It’s not that it’s not used,” Stutes said. “It’s not designed to be a safe space to use as an alternative to driving.”
When you cross the bridge, you can turn right or left along Stadium Way to get to a stadium entrance.
Turn right, as the map tells you to do, and you’ll encounter decaying sidewalks, with cracked and buckled concrete that turns a modest uphill walk into an obstacle course. Once you get onto the stadium grounds, the paint is fading along the pedestrian path, which offers you no protection from passing cars.
Turn left, and you’ll have to walk part of the way in the street, on an unprotected bike lane. You also could walk along the road behind the Fire Department training center, a path with no sidewalks and passing fire trucks. Either route takes longer than the one on the map, but you would enter Dodger Stadium through a pair of protected and brightly painted pedestrian paths. (That entrance, along Vin Scully Avenue, is a quarter-mile from Sunset Boulevard, where two Metro bus routes stop.)
If the primary choices for getting out of Dodger Stadium after a game are car congestion or Dodger Stadium Express shuttle bus congestion, a downhill walk to Chinatown Metro station — 12 minutes, Metro says — would be a nice option. That’s why those folks lit up the bridge over the freeway during the World Series.
“The lights were just a fun way,” transit advocate Kevin Dedicatoria said, “to show, ‘Hey, here’s a bridge so you don’t have to play, ‘Dude, where’s my car?’ or have to worry about waiting for the bus.’”
McCourt hails from Boston, where the local subway drops Red Sox fans a few short blocks from Fenway Park. When McCourt owned the Dodgers, I asked him if he could envision a subway or light rail extension to Dodger Stadium.
He’d love it, he said then, but the Dodgers were a private business, and government should pay for public transit.
Homes line a street in Eylsian Park, where Dodger Stadium is located.
(ETIENNE LAURENT/For The Times)
It was a fair point. The Dodgers pay taxes. In an era where teams regularly demand stadium and arena deals that exempt them from property tax, the Dodgers have paid $12.8 million in property taxes over the past three years, according to Los Angeles County tax collection records.
Would demand for public transit amid a car culture justify the investment? The Dodger Stadium Express indicates it could: Ridership has just about quadrupled since its inaugural season, from 122,273 in 2010 to 463,147 last year, according to Metro.
Even along the poorly maintained, poorly lit and poorly advertised pedestrian path, Metro said more than 700 riders returned to the Chinatown station on each of the three nights of World Series home games last year.
“As seen in social media videos during the 2025 postseason, the walking path continues to explode in popularity,” Metro spokesman Jose Ubaldo said.
Next steps?
“It’s astonishing to me that the Dodgers have not taken it upon themselves, as this great community partner, to fix this problem,” Walker said. “It is the city’s responsibility, but the Dodgers should be doing this, as part of what they want to represent to this community.”
The walking path includes segments along city streets, a Caltrans bridge, and Dodger Stadium property. Just who is the responsible party?
A Caltrans spokesman said the city is responsible for maintaining the bridge. A spokesman for the city’s department of street services did not provide an answer. A spokesman for the Dodgers declined to comment.
You could almost hear the sigh from city councilwoman Eunisses Hernandez, whose district includes Dodger Stadium.
“That’s what my job is: to bring people and agencies and organizations together to accomplish a goal,” Hernandez said. “We’re already in conversation with all these entities.
“We’re looking at some of the things we can enhance to make this a more walkable and accessible option for people.”
City Council member Eunisses Hernandez, center, talks with Circle outreach workers in Los Angeles.
(Allen J. Schaben/Los Angeles Times)
How much might those enhancements cost?
Without a look at a city-commissioned Dodger Stadium traffic mitigation study, expected to be completed this fall, Hernandez said she could not put a price tag on it.
“What I can tell you,” she said, “is that it will be less than half a billion dollars, for sure.”
By year’s end, the Los Angeles City Council is expected to vote on McCourt’s gondola project, estimated to cost $500 million and proposed as privately financed. Last November, the council voted 12-1 to urge Metro to kill the project.
Metro granted its approval, but with conditions that included a requirement to explore supplementing the gondola with other Dodger Stadium transit options, including more buses along Sunset Boulevard and a designated walkway from there to the stadium.
The walking path proposed in that 1990 study would have avoided Sunset Boulevard and the current Stadium Way routes — the ones with crumbling sidewalks, or no sidewalks at all — by using escalators and walkways to get fans up and down the hill between Lookout Drive, just off Stadium Way, and Dodger Stadium.
“Pedestrians could be directed through Chinatown,” the study read, “where numerous restaurants, shops and pedestrian amenities are provided.”
It’s hard to sell Chinatown businesses on the benefits of the gondola when fans would ride between Union Station and Dodger Stadium, soaring over Chinatown. It would be easier if a walking path led at least some of those fans through Chinatown, even if only on the way back from the game.
Even if the gondola system really can accomplish what its proponents say it can — loading 35 people into a cabin every 23 seconds — thousands of riders leaving when the game ends could mean a long line to board.
One of the entrances to Dodger Stadium on Stadium Way, the easiest access when walking from Chinatown Metro station.
(Etienne Laurent/For The Times)
“Also,” the 1990 study said, “passenger waiting following a game is psychologically perceived as being three to four times longer than actual waiting time.”
From this perspective, McCourt might win a few council votes by funding a first-class walking path. The cost, I’m told, would depend on what the enhancements include: signs, lights, trees, shade canopies, sidewalk repairs, escalators, and so on. For something close to $5 million — one one-hundredth of the projected cost of gondola construction — McCourt likely could do an exceptional job.
Is there any sign of progress here? Happily, yes.
In an internal report last December, Metro said Zero Emissions Transit (ZET) — the nonprofit organization now shepherding the gondola project — is pursuing ways to link pedestrians and bicyclists to the transit system and to Dodger Stadium. Those potential improvements include sidewalk repairs and a revitalized pedestrian pathway from the Chinatown Metro station to the bridge across the 110 and then across Stadium Way, to Lookout Drive and the hill above.
“Dodger Walk is envisioned as a series of switchbacks,” the report said, “inspired by the original walking path up Lookout Mountain that existed prior to the construction of Dodger Stadium.”
Whether such switchbacks would make the walk to the stadium longer or shorter than the current path remains to be determined.
In a statement, ZET said: “We embrace and include active transit solutions to increase pedestrian and bike access throughout the project area.” In particular, ZET said, it was “supportive” of a walking path to Dodger Stadium.
The Metro report cautioned the concepts “are in the early planning stage,” so L.A. might get an extravagant walking path, a utilitarian one, or none at all.
Here’s hoping McCourt gives us a path of some kind — whether the city approves the gondola or not — because a pretty walk generations can enjoy would be a prettier civic legacy than driving a team into bankruptcy.
The European Parliament’s trade committee agreed Thursday to cut EU tariffs on US goods to zero, as set out under the EU–US agreement struck in July 2025 after multiple delays over tensions with the Trump administration.
ADVERTISEMENT
ADVERTISEMENT
EU Lawmakers had resisted for weeks implementing the deal signed by EU Commission’s President Ursula von der Leyen and US President Donald Trump last summer, following threats over Greenland and fresh tariffs imposed by Washington on EU goods after a pivotal February ruling by the US Supreme Court ruled illegal the 2025 US tariffs.
On Thursday, the committee adopted a legislation by 29 votes in favour, paving the way to eliminate EU duties on most US industrial goods as agreed in the Turnberry deal.
The lopsided agreement, clinched after weeks of trade tensions triggered by the White House’s nationalist trade agenda, imposes 15% US tariffs on EU goods while the bloc agreed to scrap its own duties and ramp up investment in the US.
Negotiation with capitals
Thursday’s vote opens the door to full approval by the European Parliament. However, adoption may slip to April or May as EU lawmakers still need to negotiate implementing legislation with EU member states.
Amendments introduced by MEPs could complicate talks with capitals, including a “sunset” clause that would reinstate EU tariffs after 18 months if the agreement is not renewed, and a so-called “sunrise clause” making tariff cuts conditional on Washington meeting its commitments.
Lawmakers unfroze the deal on Tuesday following US pressure and calls from the European Commission to move ahead.
They had sought clarity after the White House imposed fresh duties following the ruling of US top judges. New investigations into EU goods launched last week by Washington also raised concerns among MEPs, who called for predictability for European businesses.
US officials, meanwhile, have grown increasingly impatient after repeatedly assuring EU counterparts they would stick to the deal, which also spares sectors such as EU aerospace, if the bloc does the same.
“EU tariffs on US goods haven’t changed,” U.S. ambassador to the EU Andrew Puzder said on X on Tuesday, adding: “We understand that the EU must follow its process. But we’re hopeful that, after 6 and a half months, the time has come – and we’ve respectfully requested that – the EU finalize the deal so we can mutually unlock the potential for positive collaboration – for the betterment of our economies and our joint security.”
THE UK isn’t short of coastal paths but a new 2,700-mile path will become the longest of its kind in the country and even the world.
The King Charles III England Coast Path will give Brits and tourists access to the country’s entire coastline for the first time.
Sign up for the Travel newsletter
Thank you!
The King Charles III England Coast Path will stretch across 2,700 milesCredit: Getty
Natural England will celebrate the path’s official opening next week, which has been in the works for 16 years.
Around 80 per cent of the path is already open, with the final sections due to open by spring next year.
When the path is completed, it will be the longest managed coastal path in the world and eventually link with the 870-mile Wales Coast Path and 3,260 miles of the Scottish coast.
The new path means that walkers and tourists will be able to see and access hidden coves that were not previously accessible.
For example, new bridges and steps have been introduced in parts of the path.
On the Isle of Wight, new steps to a ‘secret beach’ have been built.
The steps are part of a 2.8-mile route that starts at Gurnard Luck before heading through Lynda’s Woods and reaching the beach dubbed locally as a secret spot.
On the National Trails’ website, you can see which parts of the path are open near you and also if there are any current issues that mean the path is temporarily inaccessible, for example, due to storm damage.
The site has different pages for different parts of the route, and once you go into a page, you will be able to see a map with the route on it.
You can also use filters to find nearby hotels and B&Bs as well as attractions and places to grab a bite to eat.
For example, looking at the South East coast page and map, you can walk directly along the coast through Dover, and if you want to explore more of the area, then head to Western Heights – an English Heritage fortification site that dates back to the Napoleonic Wars, which is free to visit.
Alternatively, in the South West, head on to part of the South West Coastal Path through Outer Hope, which is near Salcombe.
It will include paths and walks past top UK spots including the White Cliffs of Dover and the Jurassic CoastCredit: Getty
You could stay at The Cottage Hotel and Restaurant with sea-view rooms and cream teas out on the terrace.
The hotel sits on the cliffs just above the harbour beach in Hope Cove, so you can get to the sand and sea within a few minutes.
The map of the coastal path also highlights holiday parks, ideal for summercamping trips.
For example, in Devon near Exmouth, you can head to Cofton Holidays which has lodges, cottages, caravans and a campsite.
The holiday park runs a number of events and shows and has a high ropes course, an indoor pool and an arcade and games room.
Other highlights on the 2,700-mile path include the White Cliffs of Dover in Kent and the Jurassic Coast in Dorset.
If you are looking for a day walk that is already fully open, you could venture from Shoreham-by-Sea to Brighton.
Around 80 per cent of the trail is already openCredit: Getty
Setting off from Shoreham-by-Sea, you will walk next to the River Adur estuary where you can spot birds before heading past the old lighthouse in Shoreham Harbour.
The trail then follows on to Hove Esplanade to Brighton, where you can see the remains of West Pier.
Finally, in Brighton, you can enjoy the beach, pier and bustling town.
Or you could travel up north, to walk to Newbiggin-by-the-Sea, which was once a vital port for shipping grain.
You can learn more about the town in the Newbiggin Maritime Centre, and in the town, there are a number of shops and places to grab a bite to eat.
And if you happen to be there in April, make sure to catch the Kite Festival with live music gigs, film showings and of course, lots of colourful kites taking to the skies.
In other UK travel news, these are the beautiful UK hiking trails that have delicious tea rooms and beautiful castles along the way.
