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Denmark’s AkademikerPension, which manages roughly $25 billion for academic professionals, has said it will not participate in SpaceX’s initial public offering or buy shares in any secondary-market transaction, according to Bloomberg. Chief investment officer Anders Schelde called the company “grossly overvalued” and cited what he described as a “catastrophic governance structure” as the primary reason for the exclusion.

The fund calculates that SpaceX cannot reasonably exceed a valuation of $1 trillion, roughly half the $1.8 trillion the company is targeting when marketing begins as soon as 4 June. Pricing could come as early as 11 June. AkademikerPension will also avoid indexed equity products that include SpaceX, meaning it is not simply skipping the IPO but actively excluding the stock from its entire portfolio.

The governance complaint Schelde’s objection centres on Elon Musk’s control over SpaceX. The company’s S-1 filing revealed that Musk holds roughly 85% of voting power through a dual-class share structure in which Class B shares carry ten votes each compared with one vote for the Class A shares being offered to the public. Musk simultaneously serves as chief executive, chief technology officer, and board chair.

That concentration of control means public shareholders will have no practical ability to influence company decisions. Musk can appoint a majority of the board and cannot be removed as CEO without his own consent. SpaceX will claim controlled-company status after listing, which exempts it from Nasdaq rules requiring a majority of independent directors.

Schelde described the arrangement as “exceptionally poor performance on governance matters” and said investors are being asked to accept an “unprecedentedly low risk premium” for a company with this level of management entrenchment.

Not alone in the concern AkademikerPension is a relatively small player in global capital markets, but its concerns echo those of far larger institutions. In May, the heads of the California Public Employees’ Retirement System, the New York City Retirement Systems, and the New York State Common Retirement Fund, which collectively manage more than $1 trillion, sent a joint letter to Musk calling SpaceX’s governance “extreme.”

The letter described the IPO as featuring “the most management-favorable governance structure ever brought to the US public markets at this scale.” The pension fund leaders objected to Musk’s veto power over his own removal, the use of mandatory arbitration for shareholder claims, and the company’s reincorporation in Texas, which requires shareholders to hold up to 3% of outstanding stock to bring certain legal actions.

A pattern of activist divestment AkademikerPension has a track record of using its portfolio to make governance and political statements. Earlier this year the fund sold its remaining 200 shares in Tesla, citing Musk’s role in what it described as destroying the brand and its value, along with concerns about worker treatment and board independence.

In January 2026 the fund dumped approximately $100 million in US Treasuries, with Schelde saying the US government is “not a good credit” and that its long-term finances are unsustainable. The move came during heightened tensions between Washington and Copenhagen over Greenland, though Schelde said the decision was not directly related to the diplomatic rift.

What it means for the IPO One pension fund with $25 billion in assets declining to participate will not materially affect a $75 billion capital raise. SpaceX has allocated an unusually large 30% of the offering to retail investors, and demand from individual buyers is expected to be substantial regardless of institutional governance objections.

The question is whether the concerns shared by AkademikerPension and the US pension fund coalition represent a broader pattern that could weigh on pricing or long-term institutional ownership. At $1.8 trillion, SpaceX would trade at roughly 96 times its 2025 revenue of $18.7 billion, a multiple that assumes years of hypergrowth from Starlink satellite internet and the xAI artificial intelligence division.

SpaceX lost $4.94 billion last year after absorbing xAI, and Musk’s track record of ambitious but capital-intensive programmes means the burn rate is unlikely to slow soon. For investors who share AkademikerPension’s view that the company is worth half its asking price, the governance structure makes it impossible to push for changes from the inside. The only option is to stay out.

On the eve of Brazil's Foreign Minister Mauro Vieira's visit to China, scheduled for Sunday (31), the spokesperson for the Chinese Foreign Ministry, Mao Ning, reiterated this Friday (29) that Beijing "has always defended non-interference in the internal affairs of other countries".

Mao Ning was responding to a question from Folha de S.Paulo about the US government's decision to classify the First Command of the Capital (PCC) and the Red Command (CV) as terrorist organizations. The spokesperson added that China "has noted the relevant reports."

The US State Department announced on Thursday (28) that it will include the PCC and CV in the categories of “foreign terrorist organizations” and “specially designated global terrorists”, effective June 5. The announcement came two days after Senator and presidential pre-candidate Flávio Bolsonaro (PL-RJ) met with President Donald Trump at the White House and one day after the parliamentarian's meeting with Secretary of State Marco Rubio.

The Brazilian government opposed the classification. Celso Amorim, special advisor for international affairs to President Luiz Inácio Lula da Silva (PT), stated at an event in Russia that "equating organized crime with terrorism doesn't help" and that the fight must be carried out "with maximum energy and determination," but in a way distinct from terrorism.

According to Gilberto Maringoni, professor of International Relations at the Federal University of ABC (UFABC), the classification would make Brazil vulnerable to interventions from Washington, with the imposition of asymmetrical agreements and the subordination of local repressive actions to US laws. "The Brazilian state must be relentless in combating crime, but in a sovereign manner and without external interference," he said.

Thomaz Delgado de David, a doctoral candidate in International Relations at the University of São Paulo (USP), believes that the measure represents "a serious risk to Brazilian sovereignty."

Mauro Vieira will arrive in China on Sunday for an official visit that will last until June 2nd, at the invitation of Wang Yi, a member of the Political Bureau of the Central Committee of the Communist Party of China (CPC). The two ministers will co-chair the 5th Comprehensive Strategic Dialogue at the Ministerial Level between China and Brazil.

Announcing the visit on Thursday, Mao Ning described bilateral relations as being at the forefront of China's relations with developing countries, with progress in aligning the development strategies of both countries and fruitful results in pragmatic cooperation in various fields. According to the spokesperson, the ties have global, strategic, and long-term significance, and China hopes to deepen mutual political trust, promote solidarity among countries of the Global South, and contribute to world peace and stability.

According to Mao Ning, bilateral relations “have advanced steadily in recent years under the strategic guidance of the two heads of state, with progress in building a China-Brazil community with a shared future and in aligning national development strategies.”

Left-wing candidate Iván Cepeda and far-right candidate Abelardo de la Espriella will compete in the second round of Colombia's presidential elections , scheduled for June 21. With more than 99% of the ballots counted, Espriella obtained 43% of the electorate (10,316,370 votes) and Cepeda, 41% (9,656,799) in the election this Sunday (31).

Espriella surpassed the projections of the voting intention polls and in recent days captured part of the electorate of the third force in the election, Paloma Valencia. While the Uribe-aligned senator appeared with 16% in the polls, this Sunday only 6% of voters chose her.

Polling stations closed after a peaceful day, amidst a truce with the main guerrilla groups. The government mobilized 408,000 security forces to maintain order. Votes were cast on paper, but the count is digital.

To guarantee the transparency of the election, the National Electoral Council (CNE) announced the largest election observation mission ever. It includes 1,500 international observers, five times the number from the previous election, and 14,000 national observers. The presence of systems auditors has also been significantly expanded.

Iván Cepeda, a 63-year-old senator and ally of current president Gustavo Petro (who cannot be re-elected), defends the continuation of social programs and policies aimed at the poorest. Meanwhile, Abelardo de la Espriella, a 47-year-old millionaire lawyer with an anti-establishment discourse, represents the far right.

In Colombia, reelection is prohibited, and many see this election as a kind of plebiscite regarding Petro's four years in government. He started out discredited, with low approval ratings, but gained popular support by radicalizing his project, moving further to the left.

Political analyst and historian Miguel Stédile said during the podcast O Estrangeiro , on Rádio Brasil de Fato , that Petro "knew the limited time he had and the opportunities, and he picked the fights because perhaps he wouldn't have another opportunity to pick those fights."

“In moments when this correlation was unfavorable, in particular, I always remember the discussion of labor reform, which ended a pent-up demand of years, decades, in Colombia, for the recognition of professions such as domestic workers, app workers, and advanced women's rights, all in one fell swoop, in a single law, which was in dispute with Congress for a year, a year and a half, and Petro used May 1st to mobilize the population for this,” he explains.

Historically, Colombia was the United States' main strategic and military ally in Latin America, occupying a crucial geographical position due to its border with Venezuela and its presence in the Amazon. But, in the last four years, under Petro, the country has undergone a structural change, adopting a posture of sovereignty and alignment with progressive governments in the region (such as Brazil and Mexico).

The loss of this influence generated strong concern in Washington, culminating in allegations of foreign interference, such as Hondurasgate . The scandal revealed an alliance of the continental far-right, with alleged US support, and the creation of a "digital unit" to destabilize progressive governments, such as Petro's.

Colombia under Petro stood out globally for its firm defense of Human Rights, even formally denouncing the State of Israel and the USA for genocide against the Palestinian people. Undeniably, the government of the Historic Pact, which ends in August 2026, represented a break with the old Colombian oligarchy.

Among his main achievements, one can mention the Agrarian Reform , with more than 2 million hectares formalized and delivered to rural communities. Unemployment fell to 9.2%, the lowest of the century, 1.6 million people escaped monetary poverty, and the minimum wage accumulated a 23.4% increase.

During this period, solar energy generation surpassed that of coal, and national deforestation was reduced by 39%. A world record for cocaine seizures (3,417 tons) was also registered, along with full repayment of the debt to the IMF.

The 2026 presidential elections will decide the continuity of this project and "everything it symbolizes," says Stédile.

“Petro’s victory was already quite difficult, as all elections in Colombia have been, including those won by right-wing candidates, due to the complex context of Colombian politics for almost 100 years. There are no simple victories in Colombia,” he says.

Cepeda's running mate is Aida Quilcué , an indigenous leader and senator. Their platform proposes Three Revolutions:

• Ethical Revolution: Radical transformation in political culture and the fight against corruption and violence.

• Economic and Social Revolution: Focus on overcoming poverty and redistributing land.

• Political and Democratic Revolution: Expanding popular participation and seeking peace with social justice.

One of the hallmarks of this election campaign is the so-called Project Jupiter, a massive digital strategy orchestrated by right-wing think tanks and business leaders to sow fear and uncertainty among the population, aiming to destabilize Cepeda's candidacy.

“The right wing has a modus operandi : they carry out attacks, kill many people, and transform this into a climate of war, an insecurity that calls into question the peace agreements defended by President Petro and candidate Iván Cepeda, and questions the vice-presidential candidate. It's a rehearsed script to try to create a climate that doesn't exist for the population,” journalist Leonardo Wexell Severo, from the ComunicaSul Agency, told Brasil de Fato in Bogotá covering the election.

The outcome of the election is seen as a decisive milestone not only for the future of Colombia, but for the balance of power throughout Latin America.

In a statement made this Sunday (31), the president of parliament said that there are not enough demonstrations.

During a virtual session of the Iranian Consultative Assembly, held this Sunday (31), the President of Parliament, Mohamad Baqer Ghalibaf, declared that no agreement will be signed until the government has guarantees that the United States will comply with the measures present in the text.

The statement comes after US President Donald Trump submitted a peace proposal with terms considered tougher, according to AFP . The terms were not disclosed. Trump stated in an interview with Fox News that his priorities include preventing Iran from developing nuclear weapons and reopening the Strait of Hormuz.

“Our criteria are the concrete results we must achieve; only then will we be willing to fulfill our corresponding commitments. And until we are certain that the rights of the Iranian people are guaranteed, we will not approve any agreement,” Ghalibaf reaffirmed in a speech reported by the Iranian state news agency Irna .

In his speech to the assembly, the president praised the efforts of the Armed Forces, the population, and the state administrators responsible for alleviating the economic and subsistence difficulties faced by the population at this time, and expressed confidence. "Very soon, God will cause the feeling of victory to spread in the hearts of all the Iranian people," he declared.

Among the important points of the agreement for Iran, says the Tasnin agency , is the release of US$12 billion belonging to the Iranian government and frozen in international funds.

In his most recent post on the subject on the Truth Social network, where Donald Trump has been making pronouncements, the US president reposted a message from former White House spokesman Newt Gingrich.

In the text, Gingrich says he is confident that Trump is close to a major victory for the country regarding Iran and praised the importance of Israel and the coalitions formed in the Middle East.

The Russian State Atomic Energy Corporation , Rosatom, reported that a Ukrainian drone struck the engine room building of the sixth unit at Zaporizhzhia, the largest nuclear power plant in Europe. The area has been under Russian control since the beginning of the conflict in 2022. The head of the corporation pointed out that the attack is the first in world history to target critical equipment at a nuclear power plant.

Alexei Likhachev, Director General of Rosatom, reported that the impact caused an explosion and opened a hole in the wall of the engine room. The main equipment, however, was not damaged, and there were no casualties. According to him, the drone was controlled by fiber optics, ruling out the possibility of an accidental impact.

Ukraine rejected the accusations. The Ukrainian Foreign Ministry stated in a press release that they lacked "logic." "It is unclear why Ukraine would attack its own nuclear power plant located on its own territory, which it seeks to recover under its sovereign control," the ministry said .

Radiation levels remain normal at the site, the company said in a statement. The agency reported that emergency teams are assessing the damage to the engine room, and the situation remains under full control.

Likhachev accused Ukrainian forces of overstepping insurmountable boundaries and acting recklessly. He warned of the risks of potential attacks against other critical plant facilities, including turbines, the reactor, or safety systems. The director stressed that such incidents could have consequences beyond Russia and Ukraine in the event of a nuclear emergency.

The head of the International Atomic Energy Agency (IAEA), a United Nations agency, wrote on the social network X, on Saturday (30): “There should be no kind of attack coming from or against the plant”. “Attacking nuclear facilities is like playing with fire,” he added.

A team of IAEA experts visited the factory on Sunday to assess the damage, said Mikhail Ulyanov, Russia's envoy to the UN agency and other international organizations in Vienna. He shared images of the site, showing the hole in the wall of the machinery shed caused by the drone.