Elon Musk surpasses Jeff Bezos to become richest person in the world

Agencies
January 8, 2021

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Washington, Jan 8: Creating history, Tesla and SpaceX CEO Elon Musk, who had once decided to sell off Tesla owing to poor results, became the richest person on the planet, going past Amazon Founder Jeff Bezos on Bloomberg Billionaires Index, a ranking of the world's 500 wealthiest people.

A 4.8 per cent rally in Tesla's share price on Thursday took Musk past Bezos, with a net worth of $188.5 billion, 1.5 billion more than Bezos, who has held the top spot since October 2017. Musk's net worth increased by more than $150 billion this year and Tesla's share price surged a massive 743 per cent last year.

He told Axel Springer in an interview last month that the key purpose of his wealth is to "accelerate humanity's evolution into a spacefaring civilisation".

The world's 500 richest people added a record $1.8 trillion to their combined net worth last year, according to Bloomberg Billionaires Index.

Tesla delivered 499,550 vehicles in 2020, slightly missing its most recent guidance of 5,00,000 vehicles.

In the fourth quarter, Tesla delivered 1,61,650 Model 3 and Model Y cars and produced 1,63,660 such vehicles.

The automaker also delivered 18,920 Model S and X vehicles and produced 16,097 of them.

"In 2020, we produced and delivered half a million vehicles, in line with our most recent guidance. In addition, Model Y production in Shanghai has begun, with deliveries expected to begin shortly," the company said in a statement last week.

The company achieved the feat despite closing its new factory in China as well as its vehicle plant in Fremont, California for several weeks as the new coronavirus spread.

Musk also tweeted: "So proud of the Tesla team for achieving this major milestone! At the start of Tesla, I thought we had (optimistically) a 10% chance of surviving at all".

Tesla delivered 88,400 vehicles in Q1, and 90,650 vehicles in Q2.

In October, Tesla said it delivered 1,39,300 vehicles during the third quarter, slightly better than the 1,37,000 Wall Street had expected.

For the year, Tesla delivered 4,42,511 Model 3 and Model Y cars, while producing 4,54,932 of the vehicles. It delivered 57,039 Model S and Model X cars while producing 54,805 such vehicles.

Musk has proclaimed that he wants to increase Tesla's vehicle sales volume from about 5,00,000 in 2020 to 20 million annually over the next decade.

Late last month, Musk told Tesla employees in an email to 'go all out' in order to achieve the 5 lakh vehicle delivery goal.

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News Network
March 27,2024

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At least seven people have been killed when Israeli warplanes bombed an emergency center in southern Lebanon near the border with the 1948 Israeli-occupied territories with air-to-surface missiles, according to Lebanese security sources.

Two sources, speaking on condition of anonymity said early on Wednesday that the strike targeted the Islamic Group’s emergency and relief center in Lebanon’s southern village of Habbariyeh.

Jamaa Islamiya, a Lebanese group closely linked to the Gaza-based Palestinian resistance movement Hamas, said in a statement that “a number” of people had been killed, and called the strike a “heinous crime.”

An official from the group said “seven rescuers” were killed in the aerial assault.

Another Jamaa Islamiya official, also requesting anonymity, said a dozen medical staff were in the emergency center at the time of the strike, adding that bodies were being pulled from the rubble.

Lebanese lawmaker Hassan Mrad said “the Israeli aggression on Habbariyeh adds to the long list of Israeli crimes.”

Israel has been launching air strikes against Lebanon since the beginning of its onslaught against the Gaza Strip in early October.

An Israeli strike knocked down part of a building in the southern Lebanese city of Nabatiyeh on February 14, killing seven members of the same family, including a child, Lebanon’s official National News Agency said. A boy initially reported missing was found alive under the rubble.

In a separate Israeli attack, a woman and her two children were killed in the village of as-Sawana in southern Lebanon.

The Israeli regime launched its devastating hostilities in the Gaza Strip on October 7 after the territory’s Hamas-led Palestinian resistance groups carried out a surprise retaliatory attack, dubbed Operation Al-Aqsa Storm, against the occupying entity.

Israel's raids have resulted in retaliatory strikes from Hezbollah in support of the Palestinian people in the Gaza Strip.

The movement has vowed to keep up its retaliatory operations as long as the Tel Aviv regime continues its onslaught on Gaza.

The Israeli campaign in Gaza has killed at least 32,414 people, most of them women and children. Another 74,787 individuals have also been wounded.

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News Network
March 28,2024

New Delhi: After India summoned an American diplomat over their remarks on the arrest of Delhi Chief Minister Arvind Kejriwal in the liquor policy case, the US reiterated on Wednesday its call for "fair, transparent, timely legal processes".

We continue to follow these actions closely, including the arrest of Delhi Chief Minister Arvind Kejriwal, said US State Department Spokesperson Matthew Miller while responding to questions on India summoning Gloria Berbena, the US Acting Deputy Chief of Mission in New Delhi.

The meeting at the foreign ministry's South Block office lasted nearly 40 minutes yesterday with India objecting strongly to the US remarks on the arrest of Mr Kejriwal.

Miller also responded to a question on the Congress party's frozen bank accounts, saying, "We are also aware of the Congress party's allegations that tax authorities have frozen some of their bank accounts in a manner that will make it challenging to effectively campaign in the upcoming elections."

He said the US encourages "fair, transparent and timely legal processes" for each of these issues.

"With respect to your first question, I'm not going to talk about any private diplomatic conversations, but of course, what we have said publicly is what I just said from here, that we encourage fair, transparent, timely legal processes. We don't think anyone should object to that," he said.

Mr Kejriwal was arrested last week by the Enforcement Directorate (ED), the third Aam Aadmi Party (AAP) leader after Manish Sisodia and Sanjay Singh to be taken into custody in connection with the alleged liquor policy scam.

The US State Department on Tuesday said it is monitoring reports of Mr Kejriwal's arrest and called on New Delhi to ensure "a fair and timely legal process" for the jailed Chief Minister.

India objected to it and warned of "unhealthy precedents".

"States are expected to be respectful of the sovereignty and internal affairs of others, and this responsibility is even more so in case of fellow democracies. It could otherwise end up setting unhealthy precedents," the foreign ministry said.

"India's legal processes are based on an independent judiciary which is committed to objective and timely outcomes. Casting aspersions on that is unwarranted," the ministry stressed.

The US remarks came days after Germany's Foreign Office stressed that Mr Kejriwal is entitled to a fair and impartial trial. The Indian government had reacted strongly and summoned the German envoy, labelling their remark "blatant interference in internal matters".

The excise policy was introduced to bring an overhaul to the liquor business in Delhi, but was scrapped after Lieutenant Governor VK Saxena ordered a probe into the alleged irregularities in the policy. The ED believes the bribe money from the policy was allegedly used for funding the AAP's election campaigns. It has also called Mr Kejriwal a "conspirator" in the case.

His arrest just ahead of the 2024 Lok Sabha election has also prompted furious protests from the opposition camp.

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News Network
March 26,2024

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There is no let-up in the Israeli aggression on the Gaza Strip despite a UN Security Council resolution demanding an “immediate ceasefire.”

Israel carried out air raids and artillery strikes on several parts of Gaza on Tuesday, hitting residential buildings and gatherings of displaced people, “killing and wounding hundreds of people”, the Palestinian Information Center said.

Among the victims are 15 people, including four women and children, who were killed in an attack on a house in the neighborhood of Mosbeh, north of Rafah.

Media reports also said that fighting on the ground continued unabated.

That’s while the UN Security Council on Monday adopted a resolution for an “immediate ceasefire” for the ongoing Muslim holy month of Ramadan.

The resolution was put forward by the 10 non-permanent members of the UN Security Council. The US abstained and the 14 other council members all voted in favor of it.

After the vote, UN Secretary-General Antonio Guterres wrote on social media platform X that failing to implement the resolution “would be unforgivable.”

Palestinian resistance movements have welcomed the resolution, but Israel’s minister for military affairs Yoav Gallant said Israel will not stop its attacks in Gaza. 

“We will operate against Hamas everywhere – including in places where we have not yet been,” Gallant said.

Israel’s foreign minister, Israel Katz, also said in a post on X that the attacks will continue until all the captives taken by Hamas during its October 7 blitz are released.

Israel unleashed its war on Gaza on October 7 after the Palestinian Hamas resistance group carried out Operation Al-Aqsa Storm against the usurping entity in retaliation for its intensified atrocities against the Palestinian people.

Since the start of the offensive, the Tel Aviv regime has killed more than 32,300 Palestinians and injured over 74,000 others.

The Tel Aviv regime has also imposed a “complete siege” on the territory, cutting off fuel, electricity, food, and water to the more than two million Palestinians living there.

Francesca Albanese, the UN special rapporteur on human rights in the Palestinian territories, said Israel has committed acts of genocide in Gaza.

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