Must Read Money Stories for Wednesday, Sept. 28

by September 28, 2016
Musk on Martians

SpaceX founder Elon Musk’s vision for colonizing Mars includes rocket reusability, refueling spacecraft in orbit and propellant production by the planet’s inhabitants. And a lot of money. Bloomberg reports that Musk admits, “it will be a challenge to fund this whole endeavor.” His plan will require public-private partnership, and Musk intends to dip into his personal assets—valued at $8.6 billion. The billionaire revealed his strategy at the International Astronautical Congress in Guadalajara, Mexico.

A feel-good moment

Americans are feeling pretty good. According to data released by the Conference Board, the September confidence reading was 104, compared to a low of 25 during the recession. CNN reports that the sunny attitude reflects a healthier job market, with a national unemployment rate of 4.9 percent. At the same time, low wages continue to cast a shadow over the country’s overall mood. The share of Americans who think they’ll pull in a higher income in the next six months actually declined in September.

Tequila goes public

Mammoth tequila producer Jose Cuervo announced a widely anticipated initial public offering. According to The New York Times, the Mexican producer’s action could generate interest for a number of reasons: the company’s 200-year-old history (Cuervo claims it’s North America’s oldest continual producer of spirits), the trend for top-shelf tequila and growth in the U.S. market. The IPO, one of only a few in Mexico this year, could raise up to $1 billion.