On December 21 2025, Elon Musk’s wealth climbed to $769 billion after Delaware’s Supreme Court reinstated his disputed $56 billion Tesla compensation plan. At the same time, SpaceX is reportedly preparing an insider share sale valuing the firm at $800 billion and exploring a potential IPO, while investor Bill Ackman floated a SPARC-based listing structure that would offer Tesla shareholders special acquisition rights. Tesla’s share price has rallied, supported by growing market expectations around SpaceX and its possible public debut.

On December 21, 2025, U.S. Representatives Max Miller and Steven Horsford released a draft crypto tax framework focused on small stablecoin transactions and staking and mining income. The proposal would exempt capital gains on payments under $200 made with regulated dollar-pegged stablecoins and offer taxpayers an option to defer taxes on staking rewards for up to five years. The plan also includes a mark-to-market regime allowing traders to report unrealized gains and losses annually.

Industrial metals tracked gold’s strength in 2025, with year‑to‑date gains of more than 34% for copper, 27% for steel, 14% for aluminum, and 30% for lithium. A July 50% tariff on steel and aluminum, plus copper‑intensive goods, sparked inventory moves and price spikes, while mine outages and energy constraints tightened supply.

Masayoshi Son is pushing SoftBank to lock in the remaining $22.5 billion for OpenAI by year-end, reportedly using asset disposals and borrowing. The group has sold its $5.8 billion Nvidia stake, pared $4.8 billion in T-Mobile US, and expanded Arm-backed margin loans to lift unused capacity to $11.5 billion.

On December 20, 2025, performance data showed gold and silver-focused funds led 2025 rankings. Franklin Gold and Precious Metals Fund returned 184.33%, with multiple UK and EU strategies posting gains above 150%. Record gold above $4,300/oz and silver crossing $60/oz were cited as drivers, alongside easing-rate expectations and macro uncertainty.

On December 20 2025, the Delaware Supreme Court reversed a 2024 ruling and reinstated Elon Musk's $56 billion Tesla compensation plan from 2018, returning 303 million shares valued at about $150 billion. The decision leaves Tesla to determine the fate of a newer pay proposal that could have reached $1 trillion, while awarding $54.5 million in legal fees to the shareholder plaintiff's attorneys.

Moore Threads unveiled new AI hardware in Beijing, with CEO Zhang Jianzhong introducing the Huagang architecture and Huashan chips aimed at reducing reliance on Nvidia. Zhang said Huagang raises computing density by 50% and improves energy efficiency ten times, and the company expects mass production in 2026 alongside updates to its MUSA platform and server lines.

On Friday, her office said Sen. Cynthia Lummis will retire when her term concludes in early 2027. During her tenure, she advanced crypto frameworks and introduced an AI liability bill tied to disclosure requirements. According to NBC News, two sources said Rep. Harriet Hageman is likely to run for the deep-red Wyoming seat.

Bernstein said Nvidia is trading at 25x forward earnings, putting it in the 11th percentile of its 10‑year valuation range and about a 13% discount to the PHLX Semiconductor Sector Index. The firm maintained an outperform rating with a $275 price target, noting shares are up 34% in 2025 while the PHLX Semiconductor Index has gained 41%.