Charlie Ergen, the billionaire founder of EchoStar and Dish Network, stands to realize a multi-billion-dollar windfall from a stake in SpaceX, according to reporting on the transaction. The gain stems from equity exposure Ergen accumulated in Elon Musk's privately held launch and satellite internet company, whose valuation has climbed sharply in recent years. SpaceX's most recent private funding rounds have pegged its valuation in the hundreds of billions of dollars, making even modest equity positions worth substantial sums. Ergen's satellite industry background gives the holding strategic resonance: SpaceX's Starlink service competes directly in broadband delivery markets where Dish and EchoStar have long operated. The size of the realized or unrealized gain, the precise mechanism by which Ergen acquired the stake, and any planned liquidity event remain unspecified in available sourcing. Investors tracking private space and satellite sector valuations will watch whether this position is monetized through a secondary sale, a structured transaction, or a future SpaceX public offering.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
