SpaceX Surpasses Amazon and Microsoft Intraday, Becomes World's Fourth-Largest Company by Market Cap

According to Jin10 Market News, SpaceX's intraday market value briefly surpassed both Amazon and Microsoft on June 16, making it the world's fourth-largest company by market cap. Elon Musk's personal wealth surged to $1.4 trillion during the rally.

Meanwhile, diplomatic developments in the Middle East accelerated on the same day. The U.S. and Iran are set to sign a preliminary understanding memorandum on June 19 in central Switzerland. U.S. Vice President Vance confirmed that waiving Hormuz Strait transit fees is explicitly written into the agreement, with Trump planning to announce the full accord details this week. Iran's Foreign Ministry advisor reiterated that Iran's missile program and support for regional allies remain non-negotiable.