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
April 24,2024

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With the Karnataka transport department extending the deadline for the installation of High Security Registration Plate (HSRP) twice--- in November last year and February, it is no longer planning to extend the same. The department ordered for the installation of HSRP before May 31.

The transport department through a notification in August last year, had mandated the installation on all the vehicles that were registered in the state prior to April 1, 2019. According to transport officials, there are nearly two crore vehicles that are supposed to get HSRP for their vehicles.

“As of now, the state has registered only 34 lakh HSRP installations, despite extending the deadline twice. From nearly 18 lakh installations since February, the numbers have almost doubled. However, there are still a large number of vehicles that have to opt for HSRP,” said C Mallikarjuna, Additional Commissioner for Transport (Enforcement).

“We will wait till May 31 to check for the total number of vehicles that fall in line. We are expecting HSRP installations to touch 75 lakh, after which we will consider an extension as the numbers indicate that people are falling in line and if some more time is given everyone will get it done. However, if we do not reach that number before the deadline, we will request the government not to extend the deadline but urge for an enforcement,” he said.

He also stated that a fine of Rs 500 will be imposed for the first time and if vehicle owners do not fall in line, it will be Rs 1,000 later until they have installed HSRP. “We will wait till the Model Code of Conduct ends and take the government’s opinion. We are going to request the government for strict enforcement if the HSRP installations are not satisfactory,” he added.

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News Network
April 25,2024

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Bengaluru: The Congress and BJP will lock horns on the electoral battleground again, in less than a year, in Karnataka as the stage is set for voting in the first phase in 14 Lok Sabha seats on Friday.

It's going to be a straight fight between the ruling Congress and the BJP-JD(S) combine unlike the Assembly elections in May last year which witnessed a triangular contest among the three parties.

The state has a total of 28 Lok Sabha constituencies. The second phase of polling in the remaining 14 seats is on May seven.

A total of 247 candidates -- 226 men and 21 women -- are in the fray for the first phase in most of the southern and coastal districts.

More than 2.88 crore voters are eligible to exercise their franchise in 30,602 polling stations where polling will take place between 7 am to 6 pm.

While the Congress is contesting in all 14 seats, BJP has fielded nominees in 11 and its alliance partner JD(S), which joined the National Democratic Alliance (NDA) in three -- Hassan, Mandya and Kolar.

Besides the three, the segments where elections will be held on Friday are: Udupi-Chikmagalur, Dakshina Kannada, Chitradurga, Tumkur, Mysore, Chamarajanagar, Bangalore Rural, Bangalore North, Bangalore Central, Bangalore South and Chikkballapur.

In the 2019 Lok Sabha polls, Congress and JD(S), which were in alliance and ruling the state then, had secured just one seat each in these 14 segments. The BJP had won in 11 and ensured the victory of a party supported independent candidate in Mandya.

Having scored a thumping victory in the Assembly elections, the Congress now appears determined to put up a strong show.

Karnataka is the most important state for the BJP in south India as it's only here that it had held power in the past. 'Its alliance partner JD(S) is fighting to remain politically relevant, after the Assembly poll drubbing,' a political analyst said.

The Old Mysore region is the Vokkaliga heartland and parts of it have been the traditional bastion of the JDS.  However, the current elections are a battle for survival for JDS.

According to Karnataka Chief Electoral Officer Manoj Kumar Meena, 1.4 lakh polling officials will be on duty for the first phase.

Besides them, 5,000 micro-observers, 50,000 civil police personnel, 65 companies of Central Parliamentary Force and State Armed Police force of other States will also be deployed for security.

All the 2,829 polling stations of Bangalore Rural parliamentary constituency will be webcast, Meena said.

'This is as per the request of our returning officers and observers; so we have given more than double the Central parliamentary force for Bangalore Rural constituency. Seven companies of Central paramilitary forces have been inducted at the constituency since April 22,' he told reporters on Wednesday.

In fact, out of the total 30,602 polling stations in the first phase, 19,701 will be webcast, and 1,370 covered via CCTVs, he said.

Chikkaballapur has a maximum number of 29 candidates, followed by 24 in Bangalore Central, and Dakshina Kannada has the least number - nine.

JD(S) leader H D Kumaraswamy from Mandya, his brother-in-law and noted cardiologist C N Manjunath from Bangalore Rural on a BJP ticket, erstwhile Mysuru royal family scion Yaduveer Krishnadatta Chamaraja Wadiyar from Mysore, also from the BJP, and Deputy Chief Minister D K Shivakumar's brother and MP D K Suresh of Congress from Bangalore Rural, are among the prominent candidates in the fray in the first phase.

Also in the fray are BJP MP Tejasvi Surya from Bangalore South against Minister Ramalinga Reddy's daughter Sowmya Reddy of Congress, Union Minister Shobha Karandlaje on BJP ticket from Bangalore North against former IIM Bangalore professor M V Rajeev Gowda of Congress.

The Congress' performance in the elections, especially in the first phase which covers almost all Vokkaliga-dominated districts, is being seen as a big test of sorts for its state unit chief Shivakumar, who has made no secret of his ambition to become chief minister, amid speculations of change in guard mid-way of the Assembly term.

Stakes are also high for Chief Minister Siddaramaiah, as victory in particular in his home turf—Mysore and Chamarajanagar—is seen as key for strengthening hands, analysts say.

For the JD(S) and its state chief Kumaraswamy, the task is cut out -- to prove that the regional party is still a force to reckon with, particularly in the Vokkaliga dominated Old Mysuru or South Karnataka region.

Both Shivakumar and Kumaraswamy are Vokkaligas, and are engaged in a fierce turf war to consolidate their clout over the dominant community.

It is also seen as a kind of a 'litmus test' for state BJP president B Y Vijayendra, who has the onerous task of helping the party retain its supremacy in the Lok Sabha elections.

Ensuring a BJP sweep is paramount for the son of veteran leader B S Yediyurappa, to consolidate his position and silence critics who have questioned his selection for the post, overlooking seniors and seasoned hands.

The ruling Congress is mostly banking on the implementation of its populist five guarantee schemes. The BJP and JD(S) seem to be leveraging the 'Modi factor' to the hilt.

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News Network
April 22,2024

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Some 62,000 Israeli settlers have fled areas in the northern sector of the 1948 Israeli-occupied lands amid fear of strikes by Lebanon’s Hezbollah resistance movement in retaliation for the bloody onslaught on Gaza, latest reports have revealed.

Lebanon’s al-Mayadeen television news channel, citing Israeli media outlets, reported on Sunday evening that the number of settlers that have evacuated the area as a result of Hezbollah’s operations now stands at a staggering 62,000.

The report noted that 30,000 of the settlers have evacuated northern occupied Palestine on their own as fears are mounting among the residents that Hezbollah fighters continue to carry out daily operations with no signs that they are deterred by any action the Israeli army is taking.

Israeli media outlets further noted that 40% of the evacuees are considering no return to the region.

Moreover, 38% of those who voluntarily left the area, no longer intend to return to their previous places of residence in the northern occupied territories.

This comes as Hezbollah targeted a facility housing Israeli soldiers in the Shomera settlement earlier on Sunday with a barrage of rockets.

The Lebanese resistance group also struck surveillance devices newly installed around the Dovev military barracks, completely destroying the hardware.

Hezbollah said in a statement that it attacked the deployment positions of Israeli soldiers south of the Jal al-Alam site, using heavy-caliber Burkan (Volcano) missiles.

In another statement, the resistance group announced that its fighters struck surveillance equipment at the Misgav Am military site, which Israeli forces had lately re-positioned.

Surveillance equipment at the al-Malkiya base was also targeted and destroyed, it said, adding that the operation was carried out with a salvo of rockets.

The Israeli regime has repeatedly attacked southern Lebanon since October 7, when it launched a genocidal war on Gaza that has killed at least 34,097 Palestinians, most of them women and children.

In retaliation, Hezbollah has launched near-daily rocket attacks on Israeli positions.

At least 349 people have been killed on the Lebanese border, including 68 civilians.

Hezbollah has already fought off two Israeli wars against Lebanon in 2000 and 2006. The resistance forced the regime to retreat in both conflicts.

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