u/ExaminationOk6652

Gold = stated Musk/Tesla delivery targets.
Red = actual Tesla deliveries.
Dashed red = Tesla IR company-compiled Wall Street consensus.

I mapped Donald J. Trump’s 2025 OGE Form 278e disclosure as a treemap, using the included asset sections: Part 2 Schedule 1, Part 5 and Part 6.

This is not a net-worth estimate.

The form reports assets in ranges. For the visual, I used midpoint estimates for closed ranges and lower-bound treatment for rows disclosed as “Over $50M.” That means open-ended rows are conservative by construction.

Main buckets:

Real estate & golf: $1.44B
Stocks: $744M
Bonds & notes: $714M
Crypto assets: $249M
Cash & money market: $222M
ETFs & funds: $182M

The filing also reports $1.3B+ in crypto, token and coin-related income/proceeds, which is separate from the asset-value treemap.

The most important caveat is Truth Social / TMTG. It appears as a $50M+ disclosure row, but the filing references 114.75M shares, so the market value could be far above the disclosure floor.

Methodology:
Closed ranges use midpoint estimates. “Over $50M” rows use the lower bound. Liabilities, transactions, gifts/travel, and rows without ascertainable dollar values are excluded.

Source: Donald J. Trump 2025 OGE Form 278e.

Question for the comments: for a treemap like this, would you keep TMTG at the legal disclosure floor, or add a separate market-value annotation?

This chart compares estimated AI/cloud infrastructure CapEx for two baskets of major hyperscalers:

U.S.: AWS, Microsoft, Google, Meta, Oracle
China: Alibaba, Tencent, ByteDance, Baidu

The main takeaway is not only that the U.S. group is much larger in absolute dollars. It is that the estimates themselves have been repriced upward quickly.

An earlier Goldman Sachs Research estimate shown in an AllianzGI deck had 2027E CapEx at roughly $710B for the U.S. group and $67B for the China group. Updated estimates put the figures closer to $1.0T and $123B, respectively.

That means the AI buildout is not just getting bigger. It is getting more expensive, as demand for GPUs, HBM/DRAM, power, cooling and data-center capacity collides with supply bottlenecks.

Important caveat: this is selected hyperscaler CapEx, not total national AI investment.

The world’s 100 largest asset managers crossed $100 trillion in assets under management for the first time.

This chart shows the top 50, which together hold about $93 trillion in AuM.

A few things that stood out:

BlackRock and Vanguard alone manage about $26 trillion.

BlackRock added about $2.5 trillion in AuM from 2024 to 2025.

Vanguard added about $1.9 trillion.

Together, the two largest managers accounted for nearly one-third of the total AuM growth across the top 50.

BNP Paribas Asset Management was another major mover, with AuM nearly tripling after the AXA Investment Managers acquisition.

The chart groups firms by ownership type: independent, bank-owned, and insurance-linked asset managers.

I visualized the combined operating income of Samsung, SK Hynix, and Micron from 2015 to 2029E.

The chart shows how sharply consensus expects profits to rise after the 2023 memory downturn, with the forecast period driven largely by AI demand and high-bandwidth memory.

The group moves from a roughly $4B combined operating loss in 2023 to a projected $945B peak by 2029.

Source: Visible Alpha actuals and consensus estimates.
Tools: Excel, Illustrator.
Note: Forecast years are consensus estimates, not actual results.

This chart visualizes SpaceX’s post-IPO share unlock schedule as cumulative shares potentially eligible to sell, shown as a percentage of shares outstanding.

At IPO, only 4.9% of shares are freely tradable, assuming the greenshoe is exercised in full.

The chart separates the early-release pool from the later / extended lock-up pool.

The yellow line shows the accelerated path if the stock meets the +30% price-trigger condition.

The cyan line shows the base scheduled path.

The largest single change happens on Day 366, when Musk’s 46.1% stake becomes eligible, taking potential float from 50.8% to 96.9%.

Important caveats:
Eligible to sell does not mean actual selling.
Fixed dates are measured from the June 11, 2026 prospectus date.
IPO / trading began June 12, 2026.
The 4.9% starting float assumes full greenshoe exercise; excluding greenshoe, it is about 4.2%.

At a $2.5 trillion market cap, SpaceX's now worth about as much as the 94 listed aerospace & defense companies combined.

Put another way: one company now makes up 50% of the entire $5.05 trillion listed aerospace & defense sector.

Is one company being half the sector a signal of where spaceflight is heading — or a fresh-IPO premium that won't hold?

80 championships have been awarded since the NBA's first season in 1947 — one per year, through the 2026 Finals. I placed every current franchise at its title count and drew the distribution over the top.

It's a textbook right-skew: the mode is 0 (a third of the league has never won), the median is 1, and the mean (2.6) gets dragged right by two outliers — the Celtics (18) and Lakers (17), who together hold 44% of every title ever won. No franchise has ever landed in the 8–16 range.

This chart maps Musk-linked companies and projects by estimated valuation and ownership links.

SpaceX is shown as the center of gravity, with Starlink, xAI, and X inside its ownership structure.

Tesla is shown separately, with SolarCity and its small SpaceX stake.

Terafab is shown as a project node, not a standalone company valuation.

America’s wealth gap has a simple rule:

Own assets, or watch the gap widen.

The Top 0.1% now owns 14.5% of all U.S. household wealth.

That is nearly 6x the share owned by the entire Bottom 50%.

And since 1989, the Top 0.1% captured about two-thirds of the Top 1%’s gain in wealth share.

The reason is simple:

• The top owns more stocks, funds, and private businesses.
• The middle owns more housing.
• The bottom owns very little net wealth.

So when markets boom, wealth concentration rises.

When housing crashes, lower-wealth households get hit hardest.

That is why 2008 mattered so much: the housing crash nearly wiped out bottom-half wealth, while the recovery lifted the financial assets owned mostly by the top.

The wealth gap is not just an income story.

It is an ownership story.

I charted annual satellites launched from 1957 to 2026E, grouped by the U.S., Russia / USSR, China, the rest of the world, and Starlink.

For most of the space age, satellite launches looked like a competition between national programs.

Then Starlink appears in 2019 and completely changes the scale.

By 2026E, Starlink alone is projected to launch 3,587 satellites — more than all other groups combined in this projection.

The 2026E figure is an estimate based on year-to-date launches adjusted using historical launch seasonality.

Bill Ackman’s Pershing Square reported $13.7B in public equity holdings in its Q1 2026 13F.

The portfolio is not diversified.

It is concentrated.

Main takeaways:

→ Top 4 holdings = ~66% of the portfolio
→ Top 7 holdings = almost the entire book
→ Most capital is clustered in a few high-conviction positions

Biggest positions:

Holding	Portfolio Weight
Brookfield	18%
Amazon	17%
Uber	16%
Microsoft	15%

Performance context:

→ 2025: Pershing Square Holdings’ NAV rose 20.9%
→ S&P 500 in 2025: 17.9%
→ 2026 YTD: PSH was down 6.4% as of May 19
→ S&P 500 over a similar period: up roughly 7.4%

That is the trade-off.

Concentration can make a portfolio look brilliant when the big positions work.

But when they do not, there is less diversification to soften the hit.

The chart compares completed IPO proceeds of $50M+ since 2019 with SpaceX’s reported expected IPO proceeds of $80B+.

SpaceX’s figure is shown as a reported/expected target, not a completed IPO.

All figures are gross proceeds in U.S. dollars.

For context, Saudi Aramco’s 2019 IPO raised $25.6B, the largest completed IPO in the dataset.

If SpaceX reaches the reported $80B+ target, it would be more than 3× Aramco’s record IPO.

The scale is partly explained by the capital needs behind the business.

According to the filing and Bloomberg Intelligence, SpaceX plans to use proceeds for AI compute infrastructure, launch infrastructure and vehicles, and satellite constellation capacity.

2025 financial context:

• Starlink/Connectivity: +$4.42B operating income
• xAI: -$6.4B operating loss
• AI-related capex: 61% of SpaceX’s $20.74B total capex

So the simple read is: Starlink generates cash, while AI infrastructure and Starship consume capital.

That is why I wanted to compare the reported IPO target against the biggest completed listings of recent years.

NVIDIA just reported $81.6B in quarterly revenue.

But the part I found most interesting was the geography breakdown.

China + Hong Kong were only 5.6% of reported revenue in Q1 FY2027.

Meanwhile, the U.S. was 78%.

That is a huge shift from a few years ago, when China + Hong Kong were closer to a quarter of NVIDIA’s reported revenue and the U.S. was a much smaller share.

The obvious explanation is export controls.

A100/H100 restrictions started in 2022.
The rules tightened again in 2023.
H20 was restricted in 2025.

But the weird part is this:

NVIDIA is still guiding for massive growth while assuming no China data-center compute revenue.

So China looks small in the current numbers, but not necessarily in the long-term opportunity.

Jensen Huang has described China as a potential $50B AI chip market.

That would be roughly 10x NVIDIA’s current reported China + Hong Kong quarterly revenue.

So the question is not really “does China matter to NVIDIA today?”

In the reported revenue mix, barely.

The better question is whether Washington and Beijing eventually reopen part of that market.

If they do, China could become a meaningful upside lever again.

If they don’t, NVIDIA is already proving it can grow without it.

I visualized the estimated net worth of modern Federal Reserve chair nominees at the time of nomination, adjusted to 2025 dollars.

The gap is huge.

Paul Volcker’s inflation-adjusted net worth was roughly $474K at nomination.

Janet Yellen’s was around $19.9M.

Jerome Powell was already a major outlier at $112.3M.

Kevin Warsh’s 2026 OGE financial disclosure shows a disclosed range of roughly $131M–$209M+, so I used the midpoint estimate of about $170M for the bubble size.

That puts Warsh’s midpoint estimate at roughly 359× Paul Volcker’s inflation-adjusted net worth.

Data as of: May 2026
Inflation basis: 2025 dollars
Tools used: Python/Pandas for cleaning and inflation adjustment; Illustrator/Photoshop for design and image treatment.
Sources: Bloomberg, NYT, OpenSecrets, WSJ, OGE filings, BLS CPI-U.

Berkshire’s Q1 2026 13F was more interesting than I expected.

The headline move:

They cut Chevron by 35%…

Then bought $2.65B of Delta.

That is a funny contrast because Chevron benefits from higher oil prices, while Delta is exposed to fuel costs.

Other notable moves:

• Added Delta: $2.65B
• Added Macy’s: $55M
• Increased Alphabet Class A by 36.4M shares
• Nearly tripled New York Times
• Sharply cut Constellation Brands
• Reduced Nucor
• Slightly trimmed Bank of America

They also fully exited:

• Amazon
• Visa
• Mastercard
• UnitedHealth
• Domino’s Pizza
• Aon
• Pool Corp
• Charter Communications
• Diageo

The portfolio value fell to $263.1B, down 4.0% QoQ.

Berkshire was also a net seller of stocks by about $8.1B.

But despite all the activity, the portfolio is still extremely concentrated.

Apple, American Express, and Coca-Cola make up about 51%.

The top 7 holdings make up roughly 80%.

So yes, the quarter was active.

But most of the action was around the edges.

The core portfolio still has Buffett’s fingerprints all over it.