MDN News

Elon Musk set to Become World's First Trillionaire as SpaceX Makes Historic IPO Debut

Elon Musk is on the verge of becoming the world's first trillionaire following SpaceX's record-breaking initial public offering (IPO), which began trading on the Nasdaq on Friday under the ticker SPCX.

The rocket and satellite company priced its shares at $135, raising approximately $75 billion in what is expected to be the largest IPO in history. This values SpaceX at around $1.75–1.8 trillion, significantly boosting the stake held by its founder and CEO.

As of pre- or early trading today, June 12, 2026, Musk's net worth stood at approximately $970–$982 billion, according to major trackers. The SpaceX debut is projected to push his combined holdings in SpaceX and Tesla well past the $1 trillion mark, potentially reaching $1.1 trillion or higher depending on opening performance.

Musk, the South African-born entrepreneur behind SpaceX, Tesla, and xAI, has long been the world's richest person. The IPO marks a pivotal moment for SpaceX, transitioning from a private powerhouse known for reusable rockets, Starlink, and crewed missions to a publicly traded giant.

While the milestone underscores Musk's extraordinary influence on technology and space exploration, it has reignited discussions about wealth concentration amid broader economic pressures. Trading is underway, with shares indicated to open strongly, and final confirmation of trillionaire status will depend on sustained market valuation.

Musk has not yet commented publicly on the development as markets react.

Khuzani tried to 'warn' Broos over his Mexico tactics

Famous Maskandi musician, Khuzani Mpungose, has shared his thoughts on the match between Bafana Bafana and Mexico. He jokingly mentioned that he tried to shout at coach Hugo Broos during the game, but the coach could not hear him because of the noise inside the stadium.

Khuzani, who watched the match live at the Estadio Azteca, says he does not believe Bafana's approach was the right way to face a team like Mexico.

"I tried to shout during the match, asking that we change the system," said the artist, who is popularly known as Khuba. "But he ignored me, or perhaps he didn't hear due to the noise. In my opinion, a 4-2-3-1 would have been much better than the 5-3-2 we started with."

The musician stated that the biggest mistake was relying on full-backs to move up and assist in attack.

"We should have had outright wingers to give us width and a clear attacking threat. You can't keep trying to build play from the back when you've already given your opponents confidence," he said.

Khuzani emphasised that Mexico was not necessarily a much better team than Bafana.

"I agree, at times Mexico didn't even know what to do with the ball because of our 5-3-2. But the question is, what were we doing with it? This system requires players with immense pace to effectively pull off quick counter-attacks. The question is: who were we relying on for pace?" Khuba continued.

He went on to say that what worried him most was how easily Bafana would win the ball only to give it right back to Mexico.

"We in Mzansi are known for stringing passes together, keeping possession, and creating chances. It looked as though we were playing not to lose, rather than trying to win the game."

However, despite criticising the style of play, Khuzani says it is not over for Bafana in this World Cup.

"The biggest and most encouraging thing is that the opportunity is still there. We appreciate the determination of our players. Let's dust ourselves off and try again," he concluded.

TWO IN CUSTODY AFTER BODIES FOUND IN PANEL VAN IN NQANQARHU

Two men, aged 38 and 24, are in police custody following the discovery of two deceased bodies in a grey Mercedes Benz panel van at Nqanqarhu in Gqeberha today.

A third body from Gqeberha had already been delivered prior to the incident.

According to reports, earlier this morning, SAPS received information about a vehicle with dead bodies travelling towards Kwa Bhaca.

A chase was initiated, but the vehicle was not immediately located. Between 07:30 and 08:00, the vehicle was found parked outside a supermarket.

Officers attended and brought the vehicle and its two occupants to the station.

The driver granted permission to search the vehicle. Upon opening the rear, two dead bodies wrapped in white plastic bags with blood were found.

The driver stated that they were delivering co**ses from Cape Town funeral parlours to mortuaries in Kwa Bhaca.

A third co**se, from a funeral parlour in Gqeberha, had already been dropped off at a parlour in Kwa Bhaca before the vehicle was stopped.

Enquiries confirmed the two bodies recovered originated from the Cape Town mortuaries.

An Environmental Health Practitioner attended and issued a fine of R 1000 each for not being in possession of a certificate of competence; a contravention of the National Health Act and Regulation R363.

No formal criminal charges have been laid at this stage. The two recovered bodies were taken to a local mortuary in Nqanqarhu for safekeeping.

Relatives have been summoned to identify the bodies.

The two suspects remain in police custody.

MULTIPLE AWARD WINNING VOCALIST SOMI KICKS OFF NEW ALBUM WITH FIRST SINGLE ‘WE’RE ALL FALLING’

Acclaimed GRAMMY-nominated East African singer and songwriter Somi officially announced her highly anticipated new album titled What Does It Take To Bloom? due to release on 7 August on Salon Africana.

Marking the beginning of this exciting new chapter, she has also dropped the project's first single, ‘We’re All Falling’.

A multi-award-winning Rwandan-Ugandan artist, she most recently graced the stage at the Sanfoka Festival alongside Thandiswa and Msaki.

With a career spanning international acclaim and a strong presence in South Africa, she has established herself as a respected and familiar figure within the country's music landscape.

Her upcoming album is her first collection of original songs in six years, is an exploration into the ongoing process of staying faithful to oneself amid life’s dissonance.

Written and recorded between Dakar, Lagos, Paris and New York City, the album weaves global sensibilities into an intimate meditation on uncertainty and change — asking whether growth is something we recognize as it's happening, or once we've already been transformed.

‘We’re All Falling’ the first single on the album, one of the project’s most affecting songs, confronts mortality with striking clarity.

Written during a season of personal loss, the song reflects on the sobering awareness that life is fragile and time is finite. Yet it is not consumed by despair. It becomes a call for grace and an invitation to live in the moment.

When asked about the album, she said: “I wrote this body of work while traversing many places and losing many people. This album is a mirror of searching for where and how to take root in spite of that. I pray these songs offer each listener a sense of Home or, at the very least, a witnessing of me coming Home to myself.”

For Somi, every album is an act of place-making.

Her catalog reads like a map of migration and memory – traversing the cultural bridge between Africa and America with records rooted in Nigeria, in Harlem, in the spirit and political inheritance of Miriam Makeba.

On Somi’s forthcoming album, the terrain shifts. This time, the place being mapped is not a city, country, or collective memory. It’s the self.

Having spent years navigating the global jazz scene while also feeling adjacent to it, Somi defies categorization - embracing a hybrid of jazz, soul, highlife, spoken word, and her African heritage.

What Does It Take to Bloom? marks an evolution of Somi’s sound, and finds her taking greater vocal risks while trusting her instincts more deeply. Abandoning the need to fit inside any artistic box, that refusal in itself is a form of blooming.

Ultimately, the album is grounded in finding belonging – recognizing that the journey towards wholeness is rarely linear and always unfinished.

From the many experiences in life beyond our control to the embodied realities of womanhood, Somi explores the many facets of self-discovery that make her bloom.

She hopes listeners will find themselves within the music; and if not, she offers the chance to witness her coming home to herself.

Ladysmith Black Mambazo Set To Lights Up The Eastern Cape For Father's Day Weekend

The five-time Grammy Award-winning group Ladysmith Black Mambazo is set to bring magic to the Wild Coast Sun in Bizana with a special two-night concert series.

Running at 7 PM on June 20 and June 2, the shows will offer a beautiful celebration of traditional Isicathamiya music.

Because the Sunday performance falls on Father’s Day, it will be the perfect event for families to celebrate together.

The weekend was also a major win for local youth.

Through the Ladysmith Black Mambazo Mobile Academy proudly supported by the National Department of Sports, Arts and Culture talented young artists from the Eastern Cape got the chance of a lifetime to share the stage with the global icons.

This initiative unearths hidden indigenous talent, giving rising groups the mentorship and exposure needed to tour locally and internationally.

“Performing on Father’s Day holds unique significance for our group. This day is a celebration of fatherhood, legacy, and family bonds, themes that resonate deeply with our music and values. For us, performing on this occasion is not just about the performance itself but about honoring the paternal figures who have shaped our lives and passed down the cultural wisdom through generations.

"It is a moment of reflection and gratitude, connecting the past to the present and inspiring future custodians of Isicathamiya,” Sibongiseni Shabalala said.

Tickets will range from R150 to R350.

MOTHER ABANDONED BAIL APPLICATION FOR ALLEGED MURDER OF TWO KIDS

A 27-year-old woman, Ntanganedzeni Siphugu, appeared briefly before the Tshilwavhusiku Magistrate's Court on two counts of murder. The accused abandoned her bail application.

It is alleged that on 01 June 2026, at Madabani Village, the accused administered a poisonous substance to her two minor children, aged six and nine years.

According to the allegations, both children fell ill the following day. One child was rushed to a nearby clinic, where he was certified dead. Upon returning home, family members discovered that the second child had also passed away. Following a police investigation, the accused was arrested and charged with two counts of murder.

The matter was postponed to 28 August 2026 for further investigations, and the accused remains in custody.

The National Prosecuting Authority will continue to present the State's case in court as the matter proceeds through the criminal justice process.

McKenzie defends Yaya: "Don't blame him alone, we all lost!"

Sports Minister Gayton McKenzie has firmly intervened to defend Bafana Bafana player Siphephelo "Yaya" Sithole after he came under heavy attack on social media following Bafana's 2-0 defeat to Mexico in the opening match of the 2026 World Cup.

The midfielder found himself at the centre of controversy after his early mistake allowed Julian Quiñones to score Mexico's opening goal. Things then went from bad to worse when he was sent off with a red card in the second half, leaving Bafana to play with ten men.

This led many fans to criticise the player, with some even attacking him with harsh words on social media platforms.

However, McKenzie says it is unfair for the entire burden to be placed solely on Sithole.

"This is not a tennis match, football is played by a team. We win as a team and we lose as a team," McKenzie wrote on X.

"Don't blame yourself, Yaya. It wasn't your best game ever, but you fought for the team. We are grateful to all our players. Come back stronger, son."

McKenzie's words come at a time when Sithole is facing immense pressure, as Bafana now turn their attention to a crucial match to revive their hopes of progressing, where they will face Czechia.

Following the opening-day defeat, Bafana no longer have any room for error if they still want to keep their World Cup dream alive.

President Ramaphosa Declares Special Official Funeral Category 1 for Late Ndebele King Makhosonke II

President Cyril Ramaphosa has declared a Special Official Funeral Category 1 for His Majesty King Makhosonke II (Enock Makhosonke Mabhena), the revered traditional leader of the amaNdebele akwaManala nation, who passed away on Tuesday, 9 June 2026, at the age of 65.

The King, who ascended to the throne in 1986 and reigned for 40 years, is remembered as a pillar of national unity, a champion of cultural preservation, education, and community development in the KwaMhlanga area of Mpumalanga.

The traditional leader will be laid to rest on Sunday, 14 June 2026, at Solomon Mahlangu Stadium in KwaMhlanga, with full military honours.

In a statement, President Ramaphosa expressed deep sadness over the monarch's passing and extended condolences to Queen Sekhotali, the royal family, the amaNdebele nation, and the broader South African community. Flags are expected to fly at half-mast in tribute.

The amaNdebele nation and traditional leaders across the country are in mourning, with tributes highlighting the King's role in upholding Ndebele heritage and fostering development.