Good Morning. A paper trillion, three million vanished barrels, fruit sweeter than candy. None of it happened by accident, all of it was engineered.

We also cover Bezos's "artificial general engineer," a $5 billion Albanian scandal, and how to never panic-sell again (forwarded this email? Join 523k readers).

Elon Musk became the world's first trillionaire on paper this week after his rocket company SpaceX priced its initial public offering at $135 per share Thursday. The deal is the largest IPO ever at roughly $75 billion.

Musk owns about half of SpaceX, with shares valued near $867 billion at the IPO price. Add his Tesla stake and his holdings top $1.1 trillion, more than ten times the net worth of Bill Gates. Even Musk confidant Antonio Gracias set for $68B SpaceX win.

Some of his fortune hinges on far-off goals like a Mars colony, so excluding those shares he sits just shy of the mark. SpaceX trades publicly Friday, and a climb to $140 would seal trillionaire status outright.

▲ Proof you can’t comprehend $1 Trillion (we failed too).

China has quietly cut crude oil imports during the Iran war, helping hold global prices down and stave off recession. May imports fell to 7.8 million barrels a day, down from around 11 million in recent years.

The roughly three million missing barrels match the daily use of Italy and France combined. Analysts had feared $150 to $200 oil once the Strait of Hormuz closed, yet Brent now trades below $100 a barrel.

Surging EV use, high-speed rail and slashed refinery runs absorbed much of the gap, though feedstock shortages pushed producer prices up 3.9% in May. Analysts are watching whether Beijing resumes heavy buying within weeks.

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American grocery fruit is sweeter than it has ever been. The Sumo Citrus shows it best, hitting up to 18 degrees Brix on the sugar scale while ordinary mandarins land between 8 and 11.

The shift comes from decades of selective breeding paired with consumer demand for sweetness. Branded sugar bombs lead the way: Driscoll's Sweetest Batch berries logged $400 million in sales last year, and Cotton Candy grapes are a $100 million business.

The trend has a cost. Bakers and chefs say ultra-sweet fruit loses acidity and complexity, and Melbourne zookeepers once found commercial fruit so sugary it was rotting their red pandas' teeth.

When Alex Hormozi made the biggest investment of his life, he didn't buy a tech stock or a hot startup. He poured a reported nine figures into Skool, Sam Ovens' community platform, in late 2023.

His reasoning was simple: a paid community is recurring revenue without building software, and every niche on earth, from fitness to finance to writing, will eventually have one. Then he proved it. The Skool Games turned community-building into a public competition, and Skool jumped from about a thousand groups to well over a hundred thousand.

Here's what that means for you: The people cashing in aren't gurus with millions of followers. They're regular people charging for a skill they already had.

None of them waited for a big audience. They picked one narrow thing they could teach, gave value before asking for a dollar, and charged monthly. The platform costs $9 a month to start. The only thing between you and that first payment is deciding your skill is worth charging for, before someone with half your talent beats you to it.

Here's the costliest move most investors make: panic selling. Barry Ritholtz, founder of Ritholtz Wealth Management, points to the brutal math. When markets crashed 57% in 2008, one in three people who bailed never came back. Sell $1 million at the bottom and you lock in $450,000. Held instead, it grows to $4.5 million. Even hedge fund managers sell worse than random chance. The fix isn't smarter picks. It's making fewer decisions and putting your phone down. Listen to this podcast.

▲ Kushner resort triggers "flamingo revolution" protests in Albania as prosecutor probes $5 billion land deals

▲ Jeff Bezos launches AI startup Prometheus to build "artificial general engineer," backed by $12 billion funding

▲ President Trump cancels scheduled Iran strikes, citing near-final deal as April naval blockade stays in place

▲ National Mall marking of "8647" prompts Park Police and National Guard response near WWII Memorial, possible threat to Trump

▲ US solar outproduces coal for first time, supplying 12.8% of May electricity versus coal's 12.2%

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