The world officially has its first trillionaire in Elon Musk, after SpaceX started trading on the Nasdaq Friday.Musk is worth approximately $1.1 trillion, Forbes estimated at Friday’s close, up from $982 billion on Thursday. He owns 4.8 billion shares of the rocketmaker, worth $767 billion, and his stakes in SpaceX and Tesla could get a boost if he achieves lofty goals.The race to $1 trillion once seemed unfathomable, but Musk has climbed the ranks of the world’s wealthiest at a rapid pace. He achieved trillionaire status about 14 years after becoming a billionaire.This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox here. First UpThe U.S. and Iran reached a peace agreement, with President Donald Trump announcing an end to the U.S. blockade of the Strait of Hormuz, but the lack of details drew criticism. SpaceX shares ended their first day on public markets with a 19% gain, bringing the rocket company’s market cap to $2.1 trillion.Disgraced FTX founder Sam Bankman-Fried lost his appeal to overturn his fraud conviction, after he recently applied for a pardon from President Donald Trump.Why Consumers Are Still GloomyConsumer sentiment ticked up in June, but remains historically low.dpa/picture alliance via Getty ImagesConsumer sentiment improved this month, but with inflation running at its hottest level in three years, it’s still in a historically low rut.Easing gas prices have tempered consumers’ persistent gloom, according to preliminary data from the University of Michigan’s widely-tracked survey. Still, sentiment is 19% lower than where it was last year, and hasn’t fully recovered from the dive it took in 2021 as Covid-19 sent prices soaring. In fact, consumers are more pessimistic now than they were during the 2008 financial crisis.Part of it is the cumulative impact of inflation on people’s wallets: Prices have risen roughly 29% since March 2020, according to BLS data.“Consumers were perfectly aware that inflation has slowed, but that doesn’t mean that was providing any relief to their pocketbook,” Joanne Hsu, director of the University of Michigan survey, tells Forbes Daily.There could also be a more fundamental cause for the sour outlook: social media algorithms that amplify negative information. Though inflation was more severe in the late 1970s, Hsu says consumers were only half as likely to say they’d heard negative news about prices, compared to consumers in 2022.“I’m not saying that negative news is causing people to feel bad, but if you feel bad already, you’re likely to click on everything that validates your view,” she said. “It’s not just attitudes toward the economy that have declined since the pandemic, it’s attitudes towards a lot of institutions.”Wealth + EntrepreneurshipBurpee owner George Ballaaron kotowski for forbesBurpee has pioneered seeds that have changed the way people eat for more than a century, inventing iceberg lettuce, the Big Boy tomato and other groundbreaking vegetables. That’s helped the company grow to an estimated more than $110 million in annual revenue, some 35% of which comes from mail and online sales. “One of the most patriotic things you can do is plant a garden,” says George Ball, the company’s 74-year-old chairman and owner since 1991.Tech + Innovation ​​SpaceX’s investors unsurprisingly made bank on the company’s IPO: Peter Thiel’s Founders Fund wrote the first institutional check to the then-startup in 2008, and its stake is now worth a staggering $67 billion—making it one of the most lucrative bets in venture capital history. But shareholders won’t necessarily be able to cash out immediately, since most companies going public put restrictions on insiders and investors from selling shares for at least six months.MORE: Among the 10 all-time best venture capital investments, bets on SpaceX now dominate. Even those who joined the SpaceX party relatively late, like Sequoia Capital, are sitting on massive gains, with its stake now worth over $29 billion.Sports + Entertainment James Dolan (second from right) celebrates with the New York KnicksGregory Shamus/Getty ImagesThe New York Knicks won their first NBA championship in 53 years, but their controversial owner James Dolan has plenty of reason to celebrate off the court, too. Forbes recently valued the team at $9.75 billion—No. 3 in the NBA—and Dolan’s NHL team, the Rangers, at $4 billion, helping bring the family’s fortune up to $7 billion.DAILY COVER STORYAt $23,000 An IVF Cycle, Fertility Benefits Are ‘Life Changing’ For Workers. Will They Keep Growing?Liderina/Getty ImagesMore workers are now getting fertility treatments at least partly covered through their jobs as a result of state mandates and employers’ moves, particularly at the start of this decade, to voluntarily add benefits to attract workers.Nowadays, employers have a stronger hand and have been moving to control resurgent growth in healthcare premiums. Yet recent surveys show fertility benefits coverage holding up—and even growing at the largest employers.Benefits consultant Mercer, in its 2025 survey of large health plans, found IVF was covered by 50% of employers with more than 500 workers, up from 27% in 2020. Among employers with 20,000 or more workers, 77% of them covered IVF, up from 42% in 2020. One fertility benefit that has also continued to grow, according to the International Foundation of Employee Benefit Plans 2026 survey, is egg harvesting and freezing, which is now covered by 18% of employers, up from 2% a decade ago. That’s an obvious bid by employers to appeal to younger women who are keen to keep their family options open.WHY IT MATTERS “Fertility benefits have evolved from a niche workplace perk into a mainstream employee benefit as more Americans delay parenthood and face rising fertility-related costs,” says Forbes staff writer Courtney Connley-Hampton. “New data suggests many companies are maintaining those benefits even as economic pressures grow and workers lose some bargaining power. At the same time, declining U.S. birth rates, rising state mandates, and the Trump administration's efforts to expand access to fertility care are putting renewed attention on how employers can support family formation. For many workers, access to fertility benefits can be the difference between being able to afford to start a family and not.”MORE The Economy Is Still Adding Jobs—So Why Does Finding One Feel So Hard?FACTS + COMMENTSSpaceX became one of the largest public holders of bitcoin in the wake of its stock market debut. Elon Musk has publicly advocated for cryptocurrency, including both dogecoin and bitcoin:18,712: How many bitcoin the company holds on its balance sheet, making it the eighth largest public bitcoin holder$1.2 billion: The value of the SpaceX’s bitcoin reserves as of midday FridayNo. 4: Where SpaceX and Tesla would rank as public holders of bitcoin if combinedSTRATEGY + SUCCESSIf you’re consistently not hearing back after sending out job applications, you may want to lean into networking—but it’s important to do it the right way. Reconnect with old colleagues, college professors and other mentors, and invite them to grab coffee rather than asking about job opportunities right away. Make sure your LinkedIn profile is in good shape before you reach out.VIDEOQUIZSpaceX is selling merchandise to promote its IPO, including an item in the shape of the company’s Raptor rocket engine that is priced at $125. What is it? A. BellB. Lego setC. HandbagD. LampCheck your answer.Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire.