Forbes Disagrees With Bloomberg Regarding Elon Musk Surpassing Amazon Boss As The World’s Richest

The year was off to a good start for the head of Tesla Inc., Elon Musk. This was after he was dubbed to have surpassed Jeff Bezos, Amazon boss, to become the world’s richest person, according to Bloomberg.

According to the report, the 49-year-old business prodigy had a net worth of more than US$ 188.5 billion ($242.3 billion) – including Thursday’s gains in Tesla shares – which is US$1.5 billion ($1.9 billion) more than Mr Bezos. 

The boost of Mr Musk’s personal wealth came to surface last year when Tesla became the world’s most valuable car manufacturing company, with shares surging more than eight-fold.

He has a 20 per cent stake in the company and about US$42 billion ($54.1 billion) of unrealized paper gains in vested stock options, according to the Bloomberg report. Tesla shares were up as much as 7.4 per cent on Thursday (local time) at a record high of US$811.61 ($1,046).

All that being said, the Forbes Billionaires List cited Mr Musk still trailed Mr Bezos by US$7.8 billion ($10.1 billion). It sparked speculation given the fact that Forbes has a more conservative estimate based on the Tesla stake that he has pledged as collateral for personal loans.

Despite that, the possibilities of the space enthusiast’s skyrocket of riches, even passing Forbes’ meticulous measure, is at par. Mr Musk, who co-founded and sold internet payments company PayPal, now leads some of the most futuristic companies in the world.

He also heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers, a very ambitious yet revolutionary technology under development.

Moreover, set up the Boring Company to make affordable tunnels below busy city streets for an all-electric public transportation system to avoid the nasty traffic jams in US cities.

The journey to get there though is a rough one for Mr Musk.

For instance, in the middle of 2019, Tesla’s losses were piling up as sales were not enough to cover expenses and big debt payments loomed.

Even the influential Wall Street analyst raised the possibility that Tesla would not be able to pay its bills and would have to be restructured financially.

However, since then, the electric car and solar panel maker’s shares have skyrocketed, rising nearly 700 per cent in 2020 alone. Tesla’s upsurge has been so spectacular that even Mr Musk has said the shares were overpriced.

The latest development in software, engineering and battery has caused Tesla to surge relentlessly until now. To date, numerous business giants are keeping an eye on Mr Musk’s company as as he also keeping up with his vision of going to Mars on a SpaceX mission.

(Image source: ABC News)

Successful SpaceX Falcon 9 Launch, Four Days After Starship Prototype Test Launch Flopped

Days after an unsuccessful test launch, the SpaceX’s Falcon 9 rocket has launched into space. Fortunately, they had successfully deployed a satellite for radio provider names SiriusXM.

According to NASA, the said rocket took off from Cape Canaveral Space Force Station in Florida’s Brevard County at 12:30 pm ET (4:30 am AEDT), which marks the rocket’s 25th flight this year, NASA said.

About 10 minutes after posting a video of the lift-off to its Twitter feed, SpaceX tweeted the rocket’s first-stage booster had landed on its droneship, Just Read the Instructions, located in the Atlantic Ocean.

As the booster separates after ascent and performs a flip maneuver it allows it to use its engines and “grid fins” to steer itself to a soft landing on the droneship.

As per SpaceX the said reusable booster has been recuperated seven times where the same first-stage rocket booster supported Crew Dragon’s first flight to the International Space Station.

The booster supported the Canadian Space Agency’s RADARSAT Constellation Mission to deploy Earth-observation satellites and four launches for Starlink, a SpaceX initiative to provide satellite internet access.

The Falcon 9 successful mission took place four days after SpaceX’s Starship SN8 crashed attempting a landing alike to the ones that Falcon 9 boosters have successfully executed.

Starship SN8 took off from south Texas on Wednesday, mounting over the Gulf of Mexico before navigating itself back to the launch site, where it hit the ground and exploded.

CEO Elon Musk hopes for it to one day to be used to ferry humans to Mars using the said Starship. As they sought data on how Starship SN8 could re-enter the Earth’s atmosphere after returning from an extraterrestrial mission and steer itself to a precise landing point.

SpaceX said in a statement. “Low pressure in the fuel header tank during the landing burn led to high touchdown velocity resulting in a hard (and exciting!) landing.”

Meanwhile, the CEO took to Twitter “Fuel header tank pressure was low during landing burn, causing touchdown velocity to be high & RUD, but we got all the data we needed!”

RUD stands for “rapid unscheduled disassembly” – a fancy way to say “crashed.”