Warren Buffett has said he wouldnt invest in Tesla. On top of that, the Berkshire Hathaway bosss right-hand man once claimed that Elon Musk may overestimate himself.

Musk, for his part, admitted back in May that hes not the biggest fan of Buffett.

Two months later and not much has changed, apparently. When Musk was asked in a recent New York Times interview whether he thought Buffetts overrated, heres how he responded:

He has managed to create a great image for himself as a kindly grandfather, which is maybe overstating the case.

Buffett, not the kindly grandfather hes cracked up to be? Gasp!

OK, thats not a particularly vicious jab theyve both heard much worse but its pretty clear theres at least a bit of animosity between two of the richest men in the world.

This feud isnt exactly new. The deep-pocketed duo stole headlines back in May 2018 when Musk said in a call with analysts that Buffetts concept of economic moats is lame. Buffett returned fire saying, I dont think hed want to take us on in candy.

But are there enough competitive juices flowing for Musk to send this classic clip to Buffett after he briefly passed him on the Bloomberg Billionaires Index earlier this month?

When asked that question by the Times, Musk responded: I did that!? Deny!

Of course, Musk has been drinking the milkshakes of many of his haters lately, with Tesla having more than tripled so far this year. Buffett, on the other hand, has taken some heat as Berkshire has lost more market value in 2020 than all but a handful of publicly traded U.S. companies.

Read: Buffetts lost some of his mojo, says longtime Berkshire shareholder

Tesla TSLA, -1.60% shares were up almost 2% in Mondays session, while Berkshire BRK.A, +0.05% was stuck in the red. The Dow Jones Industrial Average DJIA, -0.65% , S&P 500 SPX, -0.33% and tech-heavy Nasdaq COMP, +0.28% were all moving higher.

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Dont be fooled! Elon Musk says Warren Buffett isnt quite the kindly grandfather hes cracked up to be - MarketWatch

Tech mogul Elon Musk attempted to clarify a controversial tweet from May in a New York Times interview published Saturday.

On May 17, the Tesla and SpaceX CEO tweeted "Take the red pill." The phrase originates from "The Matrix," in which Keanu Reeves' character takes a red pill that allows him to see the true nature of the world. However, the phrase has acquired a more complicated meaningthese days. Online, incels and men's rights activists first appropriated the idea for their cause, and now, the phrase is widely used among conservatives to describe when people have ideological shifts towards conservativism.

The tweet was amplified when Ivanka Trump, an advisor to the president, quote retweeted Musk with the caption, "Taken!" In turn, "Matrix" director and co-creator Lilly Wachowski responded to Ivanka, saying, "F-ck both of you." The mother of Musk's partner Grimes criticized Musk for "blaring MRA bullsh--."

In an interview with The New York Times published on Saturday, Musk told interviewer Maureen Dowd that he thought that Ivanka may have taken the tweet the wrong way, claiming that he didn't intend for it to have a political message.

"No, it's just: Accept reality as it is as opposed to what you wish it were," he told The New York Times. "I think [Ivanka Trump] was interpreting it through more of a political lens then it was intended."

Musk has spoken before about the possibility that, la "Matrix," we're all living in a simulation, but has espoused right-wing talking points on Twitter in the past, particularly in relation to the coronavirus pandemic: hecalled stay-at-home orders "fascist" in April and tweeted dismissively about COVID-19 statistics in May.

Originally posted here:

Elon Musk says that Ivanka Trump read his 'red pill' tweet too politically - Business Insider - Business Insider

SPACEX was hoping to bring two Nasa astronauts back to Earth this weekend but a huge storm is threatening the mission.

US astronauts Bob Behnken and Doug Hurley made history on May 30 when they were the first to be blasted into space by Elon Musk's space company.

4

Nasa administrator Jim Bridenstine recently tweeted: "We're targeting an Aug. 1 departure of @SpaceX's Dragon Endeavour spacecraft from the @Space_Station to bring @AstroBehnken and @Astro_Doug home after their historic #LaunchAmerica mission.

"Splashdown is targeted for Aug. 2. Weather will drive the actual date. Stay tuned."

He later said in a press briefing: "We cannot wait to get Bob Behnken and Doug Hurley back to Earth. But of course we have some weather pending."

The weather pending is Tropical Storm Isaias and it's already caused high-winds and flash floods in Puerto Rico.

4

The storms current path is bringing it straight towards several potential landing sites for the SpaceX mission that Nasa is overseeing.

The Crew Dragon spacecraft that will bring Behnken and Hurley home can't land if there's winds exceeding 10 mph (16 km/h).

It also can't land is there's rain, lightning or big waves expected.

Isaias was named a tropical storm when it's wind speeds exceeded 39 mph (62 km/h) on Wednesday evening.

4

SpaceX is aiming for it's Endeavour Crew Dragon capusule to land the astronauts in the Atlantic Ocean or Gulf of Mexico.

The original plan was for the capsule to undock from the ISS at 8pm ET on August 1.

This will be midnight in the UK.

Then the astronauts are expected to splash into the ocean at 2:48pm ET (6:48pm GMT) on August 2nd.

However, three potential landing sites prescribed for the test mission are in the storm's path.

According to Nasa, the sites are are just off the coast of Cape Canaveral, Daytona, and Jacksonville.

That should still leave some other potential landing sites free.

Nasa has said it will be keeping a close eye on the weather before it makes a final decision.

When the astronauts undock from the International Space Station they'll have to land within three days or their resources will run out.

The Endeavour has been docked to the ISS and in space for around 63 days.

4

It's been designed to last for about 120 days.

In theory, this means the astronauts don't have to rush back and can wait a while longer if the weather is dangerous.

What is SpaceX?

Here's what you need to know...

SpaceX was founded by billionaire entrepreneurElon Muskwho still has part ownership of the company with 54 per cent equity and 78 per cent voting control.

SpaceX is a private American aerospace manufacturer that is based in California.

It was founded in 2002 with the goal to build affordable rockets and enable the colonisation of Mars.

The manufacturer also aimed to reducespacetransportation costs.

Since its creation, the firm has gained fame primarily as a pioneering rocket firm.

In 2008 it launched the first privately-funded liquid-propellant rocket to reach orbit and later became the first private company to launch an object into orbit around the sun.

The company has grown dramatically over its lifespan, from 160 employees in November 2005 to around 7,000 as of November 2019.

As of March 2018, SpaceX had over 100 launches on its manifest representing about $12billion (9.24billion) in contract revenue.

ROCK AND A HARD PLACEMystery of where giant Stonehenge rocks came from finally SOLVED

WAR GAMESChinese Navy adds mega-generators to warships to power high-energy railguns

DISAPPEARING ACTTwo Arctic ice caps have VANISHED as Nasa reveals images of global warming

WISE UPStunning shot of Comet Neowise shows Elon Musk's Starlink satellites 'photobombing'

HORROR-SCOPEYou've been reading the wrong horoscope for years because the stars have moved

In other space news, Musk's Starlink satellites have come under scrutiny again after ruining a stargazer's photo of Comet Neowise.

Nasa sent a rover on a journey to Mars today in a bold bid to hunt down signs of alien life on the planet's surface.

And, Musk announced last month that SpaceX's mission to get man on Mars is now the company's"top priority".

Would you like to travel to space? Let us know in the comments...

We pay for your stories! Do you have a story for The Sun Online Tech & Science team? Email us at tech@the-sun.co.uk

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Huge tropical storm threatens Elon Musks historic mission to bring two Nasa astronauts home this weekend - The Sun

Drawing by Nathaniel St. Clair

On July 24, 2020, Teslas Elon Musk wrote on Twitter that a second U.S. government stimulus package is not in the best interests of the people. Someone responded to Musk soon after, You know what wasnt in the best interest of people? The U.S. government organizing a coup against Evo Morales in Bolivia so you could obtain the lithium there. Musk then wrote: We will coup whoever we want! Deal with it.

Musk refers here to the coup against President Evo Morales Ayma, who was removed illegally from his office in November 2019. Morales had just won an election for a term that was to have begun in January 2020. Even if there was a challenge against that election, Morales term should rightfully have continued through November and December of 2019. Instead, the Bolivian military, at the behest of Bolivias far right and the United States government, threatened Morales; Morales went into exile in Mexico and is now in Argentina.

At that time, the evidence of fraud was offered by the far right and by a preliminary report by the Organization of American States; only after Morales was removed from office was there grudging acknowledgment by the liberal media that there was in fact no evidence of fraud. It was too late for Bolivia, which has been condemned to a dangerous government that has suspended democracy in the country.

Lithium Coup

Over his 14 years in office, Morales fought to use the wealth of Bolivia for the Bolivian people, who sawafter centuries of oppressionremarkable advances in their basic needs. Literacy rates rose and hunger rates dropped. The use of Bolivias wealth to advance the interests of the people rather than North American multinational corporations was an abomination to the U.S. embassy in La Paz, which had egged on the worst elements of the military and the far right to overthrow the government. This is just what happened in November 2019.

Musks admission, however intemperate, is at least honest. His company Tesla has long wanted access at a low price to the large lithiumdeposits in Bolivia; lithium is a key ingredient for batteries. Earlier this year, Musk and his company revealed that they wanted to build a Tesla factory in Brazil, which would be supplied by lithium from Bolivia; when we wrote about that we called our report Elon Musk Is Acting Like a Neo-Conquistador for South Americas Lithium. Everything we wrote there is condensed in his new tweet: the arrogance toward the political life of other countries, and the greed toward resources that people like Musk think are their entitlement.

Musk went on to delete his tweet. He then said, we get our lithium from Australia; this will not settle the issue, since eyebrows are being raised in Australia regarding the environmental damage from lithium mining.

Suspension of Democracy

After Morales was removed, an insignificant far-right politician named Jeanine ez set aside the constitutional process and seized power. She showed the character of her politics when she signed a presidential decree on November 15, 2019, that gave the military the right to do whatever it wanted; even her allies found this to be too far and repealed it on November 28.

Arrests and intimidation of activists from the Movement for Socialism (MAS)the party of Moralesbegan in November 2019 and still continue. On July 7, 2020, seven U.S. senators published a statement that said, We are increasingly concerned by the growing number of human rights violations and curtailments of civil liberties by the interim government of Bolivia. Without a change in course by the interim government, the senators wrote, we fear that basic civil rights in Bolivia will be further eroded and the legitimacy of the crucial upcoming elections will be put at risk.

Theres no need to worry about that, since the government of ez seems unwilling to hold an election. By all polls, ez looks likely to be defeated in the general elections. A recent poll by El Centro Estratgico Latinoamericano de Geopoltica (CELAG) says that ez will get a mere 13.3 percent, far behind the Movement for Socialisms Luis Arce (41.9 percent) and the center rights Carlos Mesa (26.8 percent). The election was supposed to have taken place in May, but it was rescheduled for September 6; it has now been postponed once more, this time to October 18. Bolivia would not have had an elected government for an entire year.

Luis Arce of MAS recently told Oliver Vargas, We face persecution, we face surveillance we are facing a very difficult campaign. But, he said, we are sure that we will win these elections. If elections are permitted.

The CELAG study shows that 9 out of 10 Bolivians have seen their incomes decline due to the coronavirus recession. Because of thisand of the attack by this government on the MAS65.2 percent of Bolivians have a negative appraisal of ez. It is important to note that due to the positive policies of Morales MAS, there is widespread support for a socialist orientation; 64.1 percent of Bolivians support taxes against the rich, and Bolivians in general support the resource socialism of the MAS and Morales.

CoronaShock and Bolivia

The government of ez has been utterly incompetent regarding the coronavirus. The number of confirmed cases of COVID-19 in this country of 11 million people is 66,456; since testing is low, the number is likely much higher.

Musk returns to our story. Earlier this year, on March 31, Bolivias Foreign Minister Karen Longaric wrote an obsequious letter to Musk asking him about the offer of cooperation posted by you regarding ventilators ready to be dispatched to countries where they are needed the most. Longaric said, If it is not possible to send it to Bolivia, we can arrange its receipt in Miami, FL. and transport them from there as quickly as possible. No such ventilators came.

Instead, the government bought ventilators from a Spanish supplier for $27,000 for each of the 170 devices; Bolivian producers had said they could supply ventilators for $1,000 per unit. The health minister in the ez governmentMarcelo Navajaswas arrested for this scandal.

Morales

Evo Morales read Musks tweet about the coup in Bolivia and responded: Elon Musk, the owner of the largest electric car company, says about the coup in Bolivia: We will coup whoever we want. Another proof that the coup was about Bolivian lithium; at the cost of two massacres. We will always defend our resources!

The reference to the massacres is important. In November, from Mexico City, Morales watched as the government of ez let loose the dogs of war against the people of Bolivia from Cochabamba to El Alto. They are killing my brothers and sisters, Morales said at a press conference. This is the kind of thing the old military dictatorships used to do. It is the toxic character of the government of ez, backed fully by the U.S. government and Elon Musk.

Protests across Bolivia began on July 27 for the restoration of democracy.

This article was produced by Globetrotter, a project of the Independent Media Institute.

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'We Will Coup Whoever We Want': Elon Musk and the Overthrow of Democracy in Bolivia - CounterPunch

The message from Jeff Bezos: Big Techs not so powerful.

The message from is his personal fortune: Oh yes it is.

As Bezos and three other technology magnates prepare to defend their businesses at a Congressional hearing on antitrust worries Wednesday, their fast-growing wealth provides a breathtaking measure of their companies economic might. The Amazon.com Inc. founder has seen his net worth soar by US$63.6 billion this year. On one day this month, it leaped an unprecedented $13 billion. The worlds richest man is now on the cusp of another record: a fortune exceeding US$200 billion, according to the Bloomberg Billionaires Index.

Another chief executive officer set to testify, Mark Zuckerberg of Facebook Inc., has grown US$9.1 billion richer this year, placing his fortune within reach of the centibillionaire status already held by Bezos and Bill Gates.

The mind-boggling accumulation of money underway in technology is unrivalled in speed and scale. No other group of executives has prospered to such a degree. Indeed, the worlds richest people are growing even richer, even faster, as the coronavirus pandemic upends the global economy and drives ever more activity online.

We moved the brick-and-mortar economy to an online economy dramatically, said Luigi Zingales, a finance professor at the University of Chicago Booth School of Business. Probably the same thing would have happened in a longer period of time. Now its happening in weeks instead of years.

The hearing will be held by video conference and also features Tim Cook and Sundar Pichai, the CEOs of Apple Inc. and Google parent Alphabet Inc. Its poised to be a combative affair as lawmakers express heightened frustration with how the industry wields its clout.

Bezoss stance will be that his company is an American success story that achieved its position through risk-taking and a relentless focus on customers, according to his prepared testimony. He will tell his personal story and that of his parents, who invested in what would become the worlds largest online retailer.

The collective wealth of tech billionaires in Bloombergs index, a ranking of the worlds 500 richest people, has nearly doubled since 2016, from US$751 billion to US$1.4 trillion today. Thats faster than in every other sector.

Seven of the worlds 10 richest people derive the bulk of their fortune from technology holdings, with a combined net worth of US$666 billion, up US$147 billion this year.

Elon Musks net worth has more than doubled to US$69.7 billion this year.STR/AFP via Getty Images files

Big winners so far in 2020 include Elon Musk, whose net worth has more than doubled to US$69.7 billion on the back of surging Tesla Inc. shares.

Microsoft Corp. co-founder Gates and former CEO Steve Ballmer have also soared, long after they left the company. Indian billionaire Mukesh Ambani, whose fortune is tied up in the worlds largest oil refinery has also profited from the shift online. Shares of Reliance Industries Ltd., the conglomerate he controls, have risen 45 per cent this year as the company has expanded into digital and retail businesses, making him the fifth richest person in the world.

Among the top 10, only two have seen their wealth decline in 2020: luxury mogul Bernard Arnault and Berkshire Hathaway Inc.s Warren Buffett. While tech has surged, more than 200 of the 500 billionaires tracked by Bloomberg have lost money this year.

Giant tech companies control the infrastructure of the digital economy in a similar vein to how Gilded Age trusts monopolized Americas industrial economy at the turn of the 20th century. Yet in 1900, the five largest U.S. companies had combined market values that equaled less than 6 per cent of the nations economy, according to estimates by Massachusetts Institute of Technology economist Daron Acemoglu.

Berkshire Hathaway Inc.s Warren Buffet has seen his fortune decline this year.Andrew Harrer/Bloomberg files

Currently, five of the largest American tech companies Apple, Amazon, Alphabet, Facebook, and Microsoft have market valuations equivalent to about 30 per cent of U.S. gross domestic product. Thats almost double what they were at the end of 2018.

The economic power of the Robber Barons created a fiery counter-reaction, in violent labour unrest and the adoption of reforms that once seemed radical, like the Sherman Antitrust Act and a federal income tax. Compared to the political difficulties faced by John D. Rockefeller and other early 20th-century industrial magnates, government moves against Big Tech have been relatively mild. At least so far.

On the left, politicians including Alexandria Ocasio-Cortez and Bernie Sanders have delivered blistering attacks on widening inequality and the growing wealth of billionaires. Protesters have gathered outside Bezoss Manhattan penthouse, demanding a wealth tax. Facebook employees have spoken out about their employers role in spreading disinformation and hate speech.

Monopolists like Rockefeller and Andrew Carnegie helped repair their public images with large-scale philanthropy, a move echoed in this new Gilded Age.

The Giving Pledge, a commitment to give away the majority of your wealth in your lifetime, was founded by Gates and Buffett. Zuckerberg also has stepped into the realm of philanthropy, establishing the Chan Zuckerberg Initiative, or CZI, in 2015 with a goal to advance human potential and promote equality.

But even these acts have sparked criticism.

The modern ultra-billionaire is someone who feels a right, in many cases, to privately govern the people of the United States, said Anand Giridharadas, author of Winners Take All: The Elite Charade of Changing the World, an influential critique of billionaire philanthropy.

The modern ultra-billionaire is someone who feels a right, in many cases, to privately govern the people of the United States

Anand Giridharadas

Gatess generosity and activism during the pandemic has earned him widespread praise, but its also attracted conspiracy theorists suspicious of his motives. A YouGov and Yahoo News poll found that 44 per cent of Republicans and 19 per cent of Democrats believed Gates wanted to use vaccinations to give people tracking implants.

The criticism of Bezos also hasnt let up, even as his giving increased recently with a US$10-billion commitment in February to fight climate change and a US$100-million donation in April to the nonprofit Feeding America. When he made the announcements, his wealth had already grown by significantly more than those amounts this year. He hasnt signed the Giving Pledge.

MacKenzie Scott, Bezoss ex-wife, signed the pledge not long after the two announced their split. Scott said Tuesday that she has since donated US$1.7 billion to several causes including racial equity, climate change and public health.

Theres no question in my mind that anyones personal wealth is the product of a collective effort, and of social structures which present opportunities to some people, and obstacles to countless others, she said.

Big Tech companies have earned some grudging respect, even from critics, during the pandemic.

We have been fortunate to have these digital technologies, said MITs Acemoglu. Without them, the fallout from the lockdowns and social distancing would have been worse.

MacKenzie Scott, Jeff Bezoss ex-wife, has donated US$1.7 billion to several causes since signing the Giving Pledge.Jorg Cartsensen/dpa/AFP via Getty Images files

That may come with a cost: This is going to make the domination of tech companies over the economy and our social lives much worse, and its going to significantly accelerate the trend toward greater automation, Acemoglu said. He warns that techs rapid ascent may deepen inequality, shrink the number of good jobs, and weaken democracy.

Such concerns could help shift Big Tech and its billionaires into the crosshairs of governments whose finances have been devastated by the pandemic. Heading into this years U.S. presidential race, Elizabeth Warren and Sanders proposed wealth taxes on billionaires, an idea that polled well with voters.

Former Vice President Joe Biden, the presumptive Democratic nominee, hasnt embraced the wealth tax, but hes campaigning on higher rates on the rich and corporations, as well as the closing of estate-tax loopholes.

Absent a wealth tax or some other innovative new kind of levies, it will be difficult to tax the fortunes of Zuckerberg, Bezos and other tech billionaires. Much of their fortune is in the form of rising stock, which isnt taxed until its sold.

Billionaires are accumulating a huge amount of unrealized capital gains, on which theyre not paying much if any tax, said University of California at Berkeley economics professor Gabriel Zucman, who helped Sanders and Warren develop their wealth-tax proposals.

Bloomberg.com

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Jeff Bezos, Mark Zuckerberg and Elon Musk have made $115 billion this year - The Province

Grimes has a much bigger role in parenting her son than her boyfriend Elon Musk.

The Genesis singer and the 49-year-old Tesla CEO welcomed their son, X A-XII, into the world in May, but Elon has confessed theres not much he can do to help Grimes look after the tot yet, because so far all he does is eat and poop.

He said: Well, babies are just eating and pooping machines, you know? Right now theres not much I can do. Grimes has a much bigger role than me right now. When the kid gets older, there will be more of a role for me.

But Elon has insisted he will help raise his son when hes a little bit older, because hes already a hands on father to his five other children, whom he has from previous relationships.

He added: I think just doing what Ive done with my other kids. If I have a trip for Tesla to China, for example, Ill bring the kids with me and well go see the Great Wall or we took the bullet train from Beijing to Xian and saw the Terracotta Warriors.

And whilst he might not be hands on with X A-XII who is affectionately known to his parents as Little X right now, the SpaceX founder does think babies are super cool.

He said: I think babies are super cool and really people need to have more babies because, it sounds obvious, but if people dont have enough babies, humanity will disappear.

Elon also had kind words to say about his 32-year-old girlfriend, Grimes.

In a profile for The New York Times newspaper, he gushed: Yeah, shes pretty special, thats for sure. Shes one of the most unusual people Ive ever met.

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Elon Musk challenges Johnny Depp to a cage fight after affair allegations with Amber Heard - hollywood - Hindustan Times "; forYoudata += ""; forYoudata += ""; forYoudata += ""; count++; if (i === 7) { return false; } }); forYouApiResponse=forYoudata; $(forutxt).html('Recommended for you'); $(foruContent).html(forYoudata); } } }); } else if(forYouApiResponse!=''){ $(forutxt).html('Recommended for you'); $(foruContent).html(forYouApiResponse); } } function getUserData(){ $.ajax({ url:"https://www.hindustantimes.com/newsletter/get-active-subscription?usertoken="+user_token, type:"GET", dataType:"json", success: function(res){ if(res.length>0) { $("[id^=loggedin]").each(function(){ $(this).hide(); }); } } }); } function postUserData(payLoad, elm){ var msgelm=$(elm).parents(".subscribe-update").nextAll("#thankumsg"); $.ajax({ url:"https://www.hindustantimes.com/newsletter/subscribe", type:"POST", data:payLoad, contentType: "application/json", dataType: "json", success: function(res){ if(res.success===true){ $(msgelm).show(); 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Elon Musk challenges Johnny Depp to a cage fight after affair allegations with Amber Heard - Hindustan Times

Jeff Bezos, founder and chief executive officer of Amazon, speaks in Washington, D.C., on Sept. 19, 2019.

Andrew Harrer | Bloomberg | Getty Images

The Federal Communications Commission declaredon Thursday thatAmazonmay build its ambitious satellite internet system, which would compete with SpaceX's Starlink network.

Amazon's project, known as Kuiper, would see the company launch 3,236 satellites into low Earth orbit. Amazon says it will deploy the satellites in five phases, with broadband service beginning once it has 578 satellites in orbit.

"We conclude that grant of Kuiper's application would advance the public interest by authorizing a system designed to increase the availability of high-speed broadband service to consumers, government, and businesses," the FCC secretary Marlene Dortch said in its authorization order.

After the FCC announced the authorization, Amazon said that it "will invest more than $10 billion" into Kuiper.

"There are still too many places where broadband access is unreliable or where it doesn't exist at all. Kuiper will change that. Our $10 billion investment will create jobs and infrastructure around the United States that will help us close this gap," Amazon senior vice president Dave Limp said in a statement.

The company has not outlined a timeline for Kuiper and the FCC said the company has not finished the satellites' design. But Morgan Stanley has declared the high-speed internet network has the potential to be a "$100 billion opportunity" forJeff Bezos' company.

Kuiper is poised to go toe-to-toe with SpaceX's Starlink network of high-speed internet satellites, which Elon Musk's company has been steadily launching for the past year. SpaceX has launched more than 500 Starlink satellites and aims to begin offering direct-to-consumer broadband service later this year.

One issue that SpaceX pushed back on during was Kuiper's approach to orbital debris. While Amazon emphasized that it would remove its satellites from orbit within 355 days of them completing their missions, SpaceX pointed out that Kuiper "failed to submit a casualty risk analysis" of whether Amazon's satellite debris might survive reentry. Part of that analysis would be an estimate calculating "the probability of human casualty," which the FCC said Amazon will have to latter present as a part of a final debris mitigation plan.

Notably, SpaceX wasn't the only one to push back during the FCC's consideration of Amazon's application. Iridium Communications, Hughes Network Systems, Intelsat, Inmarsat, SES, WorldVu, Telesat and Theia also filed comments about or petitions against Kuiper's application.

Jeff Bezos, founder of Amazon, Blue Origin and owner of The Washington Post via Getty Images, introduces their newly developed lunar lander "Blue Moon" and gives an update on Blue Origin and the progress and vision of going to space to benefit Earth at the Walter E. Washington Convention Center.

Jonathan Newton | The Washington Post | Getty Images

While wholly separate from Amazon, Bezos also runs another space venture called Blue Origin that isdeveloping next-generation rocketsandspacecraft such as a lunar landerfor returning humans to the moon. A team led by Blue Origin recentlywon a NASA contract worth $579 millionas it competes withElon Musk'sSpaceX and aerospace contractor Dynetics to build spacecraft that help the agency achieve its goal of landing astronauts on the moon by 2024.

Kuiper is the name of a belt of objects that include asteroids and dwarf planets. It was named for the late Dutch American astronomer Gerard Kuiper.

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Amazon will invest over $10 billion in its satellite internet network after receiving FCC authorization - CNBC

In response to reports that German automakers are working feverishly to catch up to Tesla in the electric vehicle segment, Elon Musk tweeted that the U.S.-based EV maker that he helms is willing to help them close the gap. The Tesla CEO tweeted that the company is open to licensing software, supplying powertrains and batteries, and even sharing access to closely-held technologies like Autopilot.

This wouldn't be the first time that Tesla has made overtures toward sharing its proprietary EV technology. In fact, both Mercedes-Benz and Toyota have partnered with Tesla and used its battery and electric drivetrain technology, but at the time both automakers had made sizable investments into Musk's company.

And way back in 2014, Musk said the automaker would make all of its patents in EV technology open to other companies getting into the electric space, though that was more of a we-promise-not-to-sue-you type of deal that very few established car companies had interest in pursuing. Just recently, Tesla filed a lawsuit against Rivian for allegedly poaching its employees and stealing trade secrets. It has also sued China's Xpeng and self-driving startup Zoox.

At this point, it's not clear what powertrains or batteries Musk, who said in a recent earnings conference call that the biggest limitation to Teslas continued growth is battery cell production at an affordable price, is willing to license or supply. Tesla currently runs a battery joint venture with Panasonic, but also sources batteries from Chinas Contemporary Amperex Technology (CATL) and South Korea's LG Chem.

Reports from Silicon Valley suggest that Tesla is currently working on an expanded battery manufacturing center at its current headquarters in Fremont, California. That project, dubbed Roadrunner, would have three shifts of employees and run all day, every day, seemingly pumping out batteries.

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Musk says Tesla is open to supplying batteries and technology to competitors - Autoblog

Elon Musk called out to the nickel miners of the world this week to request a more sustainable way to mine the mineral. A tiny Toronto-based miner seems to have accepted the challenge and could win a major contract from the billionaires company if their sustainable nickel production facility comes through.

Canada Nickel Co. (TSXV:CNC) saw its stock price triple in just four days since Musk made the plea. Now, the company could be on the verge of a major breakthrough that could unlock immense value for early investors. Heres a closer look.

The fact that the tech billionaire turned his attention to nickel mining shouldnt come as a surprise. Musk has built a fortune by focusing on sustainable energy solutions and electric transport. Commodities like nickel play a pivotal role in both areas.

According to Musk, nickel-based battery cells have higher energy density than the traditional lithium-ion cells currently used in his electric vehicles. Higher density means longer range without the added weight that would compromise speed and traction for Tesla cars.

Nickel-based cells could be particularly useful in larger vehicles, such as the upcoming Cybertruck and Semi. In other words, the commodity could play a key role in Teslas future which is why Musk promised a lucrative deal for any miner who could come up with a greener, more sustainable way to extract the element.

Tesla will give you a giant contract for a long period of time, if you mine nickel efficiently and in an environmentally-sensitive way, Musk said during a recent earnings call with Wall Street analysts.

Thats where Canada Nickel comes in.

Toronto-based Canada Nickel Company told Bloomberg this week that it is poised to build a facility that could process nickel in a zero-carbon way. CEO Mark Selby said the facility could be based in the Timmins-Cochrane region of Northern Ontario.

The electric vehicle chain and broader market in general is crying out for a zero-carbon product, Selby told Bloomberg. The report ignited investor interest at a stunning pace and the company is now worth thrice as much as it was last week.

Canada Nickel is currently valued at $196 million. However, if it gains funding from Musk or wins a contract with any electric vehicle maker, the stock could shoot much higher.

The global battery industry was worth $108 billion last year. Its expected to grow 14% every year until 2027. Demand should accelerate as more people swap traditional gasoline-powered vehicles for electric cars. Meanwhile, demand is further magnified by the need for storage at wind and solar farms. The market could be worth $250 billion by 2027.

If nickel mining becomes more sustainable, miners like Canada Nickel could be poised for a massive windfall.

Nickel could be a pivotal element in the future of electric transport. Elon Musk seems to believe that an environmentally-friendly nickel mining process could unlock its true potential. Hes offered a contract to any company that can deliver on this potential. Canada Nickel Co. could on the verge of doing just that.

Fool contributor Vishesh Raisinghani has no position in any of the stocks mentioned. David Gardner owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla.

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Elon Musk's Plea Tripled This Stock in 1 Week! - The Motley Fool Canada

What makes Houston Texans defensive end J.J. Watt one of the best pass-rushers of his generation is timing. The three-time NFL Defensive Player of the Year just has a knack for making the right play at key times of the game.

Watts timing is also evident in his retorts and comebacks, which is what made him a compelling guest host on Saturday Night Live and also encouraged Fox executives to give him and his brothers a shot hosting Ultimate Tag.

The former 2011 first-round picks timing was on display Friday on Twitter. Billionaire tech genius Elon Musk was hawking his Tesla solar panels on the social media platform, stating their cost was $1.49 per Watt.

J.J. fired back: How much are they for everyone else?

Of course, some people missed Watts joke entirely and argued with each other in the mentions over the cost and benefit of solar. However, some Twitter users saw Watts remark as ultimate dad humor.

The funny tweets give Watt something else to do other than throw a tennis ball to his dogs 650 times an hour when he isnt training.

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Texans DE J.J. Watt jokes with Elon Musk about the price of a Tesla solar panel - Texans Wire

Warren Buffett has said he wouldnt invest in Tesla. On top of that, the Berkshire Hathaway bosss right-hand man once claimed that Elon Musk may overestimate himself.

Musk, for his part, admitted back in May that hes not the biggest fan of Buffett.

Two months later and not much has changed, apparently. When Musk was asked in a recent New York Times interview whether he thought Buffetts overrated, heres how he responded:

He has managed to create a great image for himself as a kindly grandfather, which is maybe overstating the case.

Buffett, not the kindly grandfather hes cracked up to be? Gasp!

OK, thats not a particularly vicious jab theyve both heard much worse but its pretty clear theres at least a bit of animosity between two of the richest men in the world.

This feud isnt exactly new. The deep-pocketed duo stole headlines back in May 2018 when Musk said in a call with analysts that Buffetts concept of economic moats is lame. Buffett returned fire saying, I dont think hed want to take us on in candy.

But are there enough competitive juices flowing for Musk to send this classic clip to Buffett after he briefly passed him on the Bloomberg Billionaires Index earlier this month?

When asked that question by the Times, Musk responded: I did that!? Deny!

Of course, Musk has been drinking the milkshakes of many of his haters lately, with Tesla having more than tripled so far this year. Buffett, on the other hand, has taken some heat as Berkshire has lost more market value in 2020 than all but a handful of publicly traded U.S. companies.

Read: Buffetts lost some of his mojo, says longtime Berkshire shareholder

Tesla TSLA, +0.05% shares were up almost 2% in Mondays session, while Berkshire BRK.A, -1.44% was stuck in the red. The Dow Jones Industrial Average DJIA, -1.13% , S&P 500 SPX, -0.73% and tech-heavy Nasdaq COMP, -0.04% were all moving higher.

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Don't be fooled! Elon Musk says Warren Buffett isn't quite the 'kindly grandfather' he's cracked up to be - MarketWatch

Errol Musk, father of Tesla CEO Elon Musk.

Denver Post Photo by Cyrus McCrimmon via Getty

If you dare brave the treacherous waters that surround Elon Musk on social media, sooner or later youre going to come across the claim that his father, Errol Musk, owns an emerald mine. And thats just the tip of the myth-making iceberg.

Despite the rabid fandom that has formed around Elon the man behind Tesla, SpaceX, The Boring Company and other endeavors attempting to turn science-fiction into reality his dad remains an enigma, a sort of fairy-tale creature trotted out merely as evidence of his sons privileged upbringing. But how much truth is there in the stories?

Its a question that has stumped writers and reporters for years, and will apparently continue to do so as long as Elon remains a fixture in the zeitgeist. Even intrepid tech and business columnist Ashlee Vance had a hard time pinning Errol down, both as a source and as the patriarch of the Musk family, when researching for his book Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future.

Whenever the topic of Errol arrives, members of Elons family clam up, Vance wrote. Theyre in agreement that he is not a pleasant man to be around but have declined to elaborate. When Vance reached out to Errol himself, he only responded via email.

However, while piecing together reporting and various interviews may not offer up a holistic picture of this contentious father figure or the short family life the Musks experienced in South Africa, it does shed light on some of the lore regurgitated on Twitter.

Lets take a look at a few of the more eyebrow-raising claims that have cropped up surrounding Mr. Musk in recent years.

In 2019, Elon Musk confronted the Twitter talking point about his fathers supposed emerald mine head on, writing, He didnt own an emerald mine & I worked my way through college, ending up ~$100k in student debt. I couldnt even afford a 2nd PC at Zip2, so programmed at night & website only worked during day. Where is this bs coming from?

However, Errols involvement in a lucrative mining operation and Elon having to pull himself up by his bootstraps are not mutually exclusive. As Vance wrote in his book Elon Musk, The family owned one of the biggest houses in Pretoria thanks to the success of Errols engineering business, a business that included large projects such as office buildings, retail complexes, residential subdivisions, and an air force base. Elon even admitted his father is brilliant at engineering despite being an overall terrible human being. And in an interview with Errol from 2018, British tabloid Mail on Sunday wrote, Musk senior was a millionaire before the age of 30.

Elon was born on June 28, 1971, to Errol and his wife Maye Musk when they were both in their 20s. This is important because the parents divorced in 1979, nine years after getting married, and it wasnt until the mid-1980s that the emerald mine in question came into the picture.

The details of the mine stem from stories published on Business Insider South Africa from journalist Phillip de Wet that rely on Errol Musks personal account. According to him, Errol became a half owner of an emerald mine in Zambia in the 80s, though he doesnt specify a year, and he got emeralds for the next six years. That story was preceded by an even more unbelievable one in which he spoke of Elon and his brother Kimbal selling some of the precious stones to Tiffany & Co. on Fifth Avenue off the street.

Other than that first-hand account, theres not much to be found to corroborate this story. But the counterpoint to the obvious fact that the Musks were well off financially, especially considering their status as a white family in apartheid South Africa, is that Elon, his siblings and Maye had to free themselves from Errols abusive relationship. As Maya Kosoff wrote of Mayes recent memoir, Errol was was physically, financially and emotionally manipulative and abusive. When Maye extricated herself from the marriage, she remembers eating peanut butter sandwiches and bean soup, not coasting on riches from an emerald mine.

According to Vances book, Errol Musks family has lived in South Africa so long that they claim an entry in Pretorias first phone book. Musk is not reticent about his allegiances either, telling the Mail on Sunday, I refuse to live [in the U.S.]. I tried it, and came back home, even though he says his home country has more violent crime.

In both the Mail and a 2017 profile of Elon in Rolling Stone, Errol confirmed that he has been involved with it himself. According to the elder Musk, he shot and killed three people who broke into his house in Johannesburg, a crime for which he was reportedly charged with manslaughter but eventually acquitted on the basis of self-defense.

In the interview with Mail on Sunday, Errol admits that hes philanderer, saying, I had a very pretty wife, but there were always prettier, younger girls. I really loved Maye but I screwed up.

That became the understatement of the century when, in March of 2018, U.K. newspaper The Times reported that Musk fathered a child with his stepdaughter Jana Bezuidenhout in a move reminiscent of Woody Allen. When the story broke, Musk was 72 years old and Bezuidenhout was just 30. As MailOnline wrote in 2018, Errol described the pregnancy as an accident, but said both Jana and their son were living with him though they werent in a relationship.

Of course, much of the proof relayed here relies on Errols own personal account of the proceedings, which leads to the biggest question of all: Is he a reliable narrator?

In his book Elon Musk, Vance recalled a piece of advice from his subject: Elon warned me off corresponding with his father, insisting that his fathers take on past events could not be trusted.

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What We Know About Errol Musk, Elons Brilliant and ...

Elon Musk is a man of many talents. Indeed, while some may know him as the face behind Tesla, a leading automotive company, others recognise him from his ambitious pursuits to colonise other planets.

Over the years, the ambitious entrepreneur has had lots of irons in the fire and has led multiple noteworthy ventures. It seems that Musk is in a restless pursuit of pioneering technology, ground-breaking innovations and sustainable developments. Indeed, he has achieved a fleet of accomplishments on his way to the top.

Without further ado, here are 25 of Elon Musks greatest achievements.

Musk was an avid reader from a very young age. He would spend, on average, 10 hours a day reading science fiction novels and anything else he could get his hands on. In fact, at the age of nine, he ran out of books to read at the library, so he ended up reading the entire Encyclopaedia Britannica before he finished fourth grade.

Musks interest in technology started evolving when he was 10 years old. Determined to teach himself more about programming, he learned the BASIC language after finishing a six-month course within just three days. His efforts were not in vain, either: at 12 years old, he managed to create his own video game and sell its code for the respectable amount of $500.

While in college, Musk made a habit of calling executives he read about in magazines and asking them to meet for lunch. Indeed, this bold stunt landed him his very first internship at the Bank of Nova Scotia. His experience there was particularly useful, as years later he would go on to launch his own online finance business.

As a self-funded college student, Musk had to come up with inventive ways to earn some income, a problem to which he found an ingenious solution to: rent a 10-bedroom frat house and turn it into a club. According to Musk, he and his roommate would make an entire months rent in just one night!

After spending two years at Queens University in Kingston, Canada, Musk transferred to the University of Pennsylvania on a full scholarship ride. There, he pursued a double major in business and physics and graduated from the prestigious Wharton School.

On his first bid to make a break in the internet industry, Musk collaborated with his brother Kimbal to start their own company, Zip2. It wasnt long before their startup was sold to a bigger company for a whopping $307 million. This transaction landed Musk with $22 million not too bad for a 27-year-old!

PayPal was the result of a merger between Musks startup X.com and Confinity, a competitor internet finance company. Musk served as the CEO of PayPal after the merger, but his executive years were shortlived as he was fired while on his honeymoon. Despite the fallback, he remained on the board and continued investing in PayPal. In fact, his contributions played an instrumental role when the company was sold to eBay two years later for a whopping $1.5 billion, earning Musk $180 million.

Before the PayPal sale was even finalised, Musk diverted his interests to space exploration. The business mogul was determined to make space travel more accessible, and in a bid to develop and manufacture his own space launch vehicles, SpaceX was established in 2002. By 2006, the space rocket company landed a contract with NASA to handle scheduled cargo transport to the International Space Station in 2008.

In 2002, Musk and his brother set up a private foundation in support of four distinct areas: renewable energy research and advocacy, human space exploration research and advocacy, paediatric research, and science and engineering education. With almost $300 million donated to date, his foundation has focused on disaster relief, AI and sustainable innovations.

Musk initially joined Teslas board of directors as its chairman in 2004. Being one of its lead investors, he assumed his role as CEO in 2007. His vision to build electric cars and make way for a more sustainable future also made him the lead product architect of the company.

As a huge advocate for sustainable energy, Musk was determined to create a product that would redefine the car industry. After Teslas first electric car, the Roadster, hit the market in 2008, the company successfully shifted the worlds perception on electric cars and has assumed its place as one of the top automotive sellers in the world. Currently, Tesla is working towards taking another innovative step: an electric car battery with a million-mile lifespan.

After three failed launches, SpaceX managed to successfully launch a fourth rocket into space in 2008. This was a breakthrough moment for Musks company as it earned them a $1.6 billion contract with NASA. This was also a significant personal achievement for Musk, whod used the last of his savings to fund the making of the fourth rocket.

In 2009, Musk introduced Teslas Model S vehicle. Since its initial launch, the luxurious vehicle made history after receiving the highest ever Consumer Reports rating of 99/100 in 2013, and the highest safety rating in history from the National Highway Safety Administration. Tesla managed to top its own record rating in 2015 after scoring 103/100 for its newest model.

In 2012, the Falcon 9 rocket made its journey to the International Space Station with 1,000 pounds of supplies for the astronauts stationed there. The mission made SpaceX the first ever private company to send a spacecraft to the ISS, and Falcon 9 completed a fleet of other flights for NASA from thereon.

In 2012, Musk joined other billionaires of the likes of Bill Gates and Mark Zuckerberg by signing the Giving Pledge. This committed the business tycoon to donate the majority of its fortune in a bid to support philanthropic causes.

In 2015, SpaceX made a big leap towards affordable space travel by successfully landing a rocket on Earth after it was launched into space. By 2017, SpaceX became the first company to launch a NASA resupply mission on a previously used rocket, making it the first reusable rocket to reach orbit.

In another bid to revolutionise transportation technology, Musk introduced the Hyperloop in 2013. Its main objective was to slash travel time between major cities via ultra-fast pods that would run on renewable energy. With several prototypes ran and tested, India and Missouri are the first locations to have launched preliminary investigations for Hyperloops installation.

In late 2015, Musk announced the creation of OpenAI, a San Francisco-based organisation aiming to advance artificial intelligence to benefit humanity and to develop AI technologies that can surpass the human brain. However, as Tesla became increasingly involved in AI, Musk had to step down as the OpenAIs chairman in 2018 to avoid any conflict of interest.

Initially, Musk invested $10 million into SolarCity back in 2006. Soon enough, SolarCity became the largest installer of solar panels in the US. After closely collaborating with Tesla, the company bought off SolarCity and made it a subsidiary in 2016.

One of Musks most recent ventures is the Boring Company, a transportation startup dedicated to boring and constructing tunnels. Its main objective is to combine affordable technology with electric public transportation to enable rapid transit across cities. Unsurprisingly, the entrepreneurs side venture is doing exceptionally well, having recently landed a $48.7 million contract to build an underground tunnel in Las Vegas.

In his pursuit of sustainable technology, Musk took Tesla one step further with the introduction of the Powerwall. The innovative solar-charged battery pack hit the market in 2015 and offers a more affordable and sustainable way to power homes.

As if space exploration, transportation tunnels and electric cars werent enough, Musk started a new passion project back in 2016. The business tycoon founded Neuralink, a neural tech company, with the aim of developing neurotechnology that could integrate artificial intelligence into the human brain.

In September 2017, Musk revealed an updated design for the Big Falcon Rocket (recently renamed Starship). With the capacity to carry over 100 passengers, the spacecraft was another leap towards the entrepreneurs overarching goal to colonise Mars. With launch tests still underway, Musk believes that the first unmanned mission could take place as early as 2022.

The business tycoon was ranked 25th on Forbes 2018 list of the worlds most powerful people. According to Forbes editors, the rankings are based on the individuals capital control, the number of people they impact and their influence on the industry they work within. With Musks fleet of achievements, winning a spot on this prestigious list comes as no surprise!

One of Elons latest achievements is Teslas Gigafactory 3, based in Shanghai, China, which he was able to set up in record time: it took just 168 days to have it up and running! As Teslas second largest market, China was a strategic move on Musks part, making Gigafactory 3 the first large-scale plant outside the US.

There is something to be said about Elon Musks unwavering drive. His steadfast determination, budding curiosity and zeal have helped him become one of the most successful entrepreneurs of all time.

With a long trail of achievements behind him, the leading tycoon shows no signs of slowing down. In fact, his ambitions might, quite literally, end up taking him to another planet altogether.

So, if youre an aspiring businessperson, take a page out of Musks book. While the road to success is never easy, a lot can be accomplished if you have enough determination and persistence.

Which of these do you consider Elon Musks greatest success? Share your thoughts with us in the comments section below.

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The 25 Greatest Achievements of Elon Musk

Last updated: June 4, 2018

Elon Musk is a Canadian-American, South-African-born, engineer and entrepreneur. He is the founder, CEO and CTO of SpaceX, founder of X.com (which later became part of the current PayPal), co-founder and CEO of Tesla Motors, creator of the Hyperloop, co-founder of SolarCity and co-chairman of OpenAI. The billionaire and his projects are known for the high bar they set for themselves, namely human exploration in Mars and their work with artificial intelligence.

Musk was born on June 28, 1971 in Pretoria, South Africa. His zodiac sign is Cancer. He has two siblings, a younger brother and a sister. His mother is Maye Musk, a fashion model.

The inventor doesnt take part in any religion and doesnt believe in any higher entities. Apparently he hasnt outright called himself an atheist, but it seems to be the case.

One belief that Musk does lean towards is something called the Simulation Hypothesis. Its a theory that everything we see around us, from the people in our lives to the galaxies far away in space, are simulations in someone elses computer program. Musk is so convinced that this theory is real that hes said Theres a billion to one chance were living in base reality. (1)

Elon is a known workaholic and apparently occupies most of his time working in one of his many projects.

He is a fierce critic of unregulated research into artificial intelligence (AI).

Musks called himself a half-Democrat half-Republican, Im somewhere in the middle, socially liberal and fiscally conservative. The inventor himself has given US $725,000 to a number of political campaigns and SpaceX has spent over US $4 million on lobbying Congress. Among Musks personal contributions there is funding to Bushs 2004 campaign and Obamas 2012 campaign, as well as a number of other politicians running for other offices.

As of March 2018 Elon was seeing Grimes, a Canadian synth-pop singer.

In 2016 Elon ended his six-year marriage with actress Talulah Riley. Theirs had been a rocky relationship. It began in 2008, and eventually the couple tied the knot in 2010, but two years later they first filed for divorce. After a reconciliation, Elon and Talulah resumed their relationship and remarried in 2013, only for Musk to file for their second divorce in late 2014, but the action was soon withdrawn. The second divorce was finalized in March 2016, and this time the papers were filed by Riley instead of Musk.

Before his ups and downs with Talulah, Elon had an eight-year marriage with Justine Wilson, with whom he had six kids.

While in the University of Pennsylvania, Musk ran his own unlicensed night club off his 10-bedroom house together with his entrepreneur friend, Adeo Ressi. Somebody had to stay sober during these parties. I was paying my own way through college and could make an entire months rent in one night. Adeo was in charge of doing cool shit around the house, and I would run the party.

Sources:

1: The Verge

https://en.wikipedia.org/wiki/Elon_Muskhttp://www.highsnobiety.com/2016/04/08/elon-musk-10-things-you-didnt-know/

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Elon Musk - His Religion, His Hobbies, His Political Views

By: Bloomberg | Published: July 29, 2020 11:12:40 am Jeff Bezos, founder and chief executive officer of Amazon.com Inc., center, smiles while touring the Spheres during opening day ceremonies at the companys campus in Seattle, Washington, U.S., on Monday, Jan. 29, 2018. (Image source: Bloomberg)

The message from Jeff Bezos: Big Techs not so powerful.

The message from his personal fortune: Oh yes it is.

As Bezos and three other technology magnates prepare to defend their businesses at a Congressional hearing on antitrust worries Wednesday, their fast-growing wealth provides a breathtaking measure of their companies economic might. The Amazon.com Inc. founder has seen his net worth soar by $63.6 billion this year. On one day this month, it leaped an unprecedented $13 billion. The worlds richest man is now on the cusp of another record: a fortune exceeding $200 billion, according to the Bloomberg Billionaires Index.

Another chief executive officer set to testify, Mark Zuckerberg of Facebook Inc., has grown $9.1 billion richer this year, placing his fortune within reach of the centibillionaire status already held by Bezos and Bill Gates.

The mind-boggling accumulation of money underway in technology is unrivaled in speed and scale. No other group of executives has prospered to such a degree. Indeed, the worlds richest people are growing even richer, even faster, as the coronavirus pandemic upends the global economy and drives ever more activity online.

We moved the brick-and-mortar economy to an online economy dramatically, said Luigi Zingales, a finance professor at the University of Chicago Booth School of Business. Probably the same thing would have happened in a longer period of time. Now its happening in weeks instead of years.

The hearing will be held by video conference and also features Tim Cook and Sundar Pichai, the CEOs of Apple Inc. and Google parent Alphabet Inc. Its poised to be a combative affair as lawmakers express heightened frustration with how the industry wields its clout.

Bezoss stance will be that his company is an American success story that achieved its position through risk-taking and a relentless focus on customers, according to his prepared testimony. He will tell his personal story and that of his parents, who invested in what would become the worlds largest online retailer.

The collective wealth of tech billionaires in Bloombergs index, a ranking of the worlds 500 richest people, has nearly doubled since 2016, from $751 billion to $1.4 trillion today. Thats faster than in every other sector.

Seven of the worlds 10 richest people derive the bulk of their fortune from technology holdings, with a combined net worth of $666 billion, up $147 billion this year.

Big winners so far in 2020 include Elon Musk, whose net worth has more than doubled to $69.7 billion on the back of surging Tesla Inc shares.

Microsoft Corp. co-founder Gates and former CEO Steve Ballmer have also soared, long after they left the company. Indian billionaire Mukesh Ambani, whose fortune is tied up in the worlds largest oil refinery has also profited from the shift online. Shares of Reliance Industries Ltd., the conglomerate he controls, have risen 45% this year as the company has expanded into digital and retail businesses, making him the fifth richest person in the world.

Among the top 10, only two have seen their wealth decline in 2020: luxury mogul Bernard Arnault and Berkshire Hathaway Inc.s Warren Buffett. While tech has surged, more than 200 of the 500 billionaires tracked by Bloomberg have lost money this year.

Giant tech companies control the infrastructure of the digital economy in a similar vein to how Gilded Age trusts monopolized Americas industrial economy at the turn of the 20th century. Yet in 1900, the five largest U.S. companies had combined market values that equaled less than 6% of the nations economy, according to estimates by Massachusetts Institute of Technology economist Daron Acemoglu.

Currently, five of the largest American tech companies Apple, Amazon, Alphabet, Facebook, and Microsoft have market valuations equivalent to about 30% of U.S. gross domestic product. Thats almost double what they were at the end of 2018.

The economic power of the Robber Barons created a fiery counter-reaction, in violent labor unrest and the adoption of reforms that once seemed radical, like the Sherman Antitrust Act and a federal income tax. Compared to the political difficulties faced by John D. Rockefeller and other early 20th-century industrial magnates, government moves against Big Tech have been relatively mild. At least so far.

On the left, politicians including Alexandria Ocasio-Cortez and Bernie Sanders have delivered blistering attacks on widening inequality and the growing wealth of billionaires. Protesters have gathered outside Bezoss Manhattan penthouse, demanding a wealth tax. Facebook employees have spoken out about their employers role in spreading disinformation and hate speech.

Monopolists like Rockefeller and Andrew Carnegie helped repair their public images with large-scale philanthropy, a move echoed in this new Gilded Age.

The Giving Pledge, a commitment to give away the majority of your wealth in your lifetime, was founded by Gates and Buffett. Zuckerberg also has stepped into the realm of philanthropy, establishing the Chan Zuckerberg Initiative, or CZI, in 2015 with a goal to advance human potential and promote equality.

But even these acts have sparked criticism.

The modern ultra-billionaire is someone who feels a right, in many cases, to privately govern the people of the United States, said Anand Giridharadas, author of Winners Take All: The Elite Charade of Changing the World, an influential critique of billionaire philanthropy.

Gatess generosity and activism during the pandemic has earned him widespread praise, but its also attracted conspiracy theorists suspicious of his motives. A YouGov and Yahoo News poll found that 44% of Republicans and 19% of Democrats believed Gates wanted to use vaccinations to give people tracking implants.

The criticism of Bezos also hasnt let up, even as his giving increased recently with a $10 billion commitment in February to fight climate change and a $100 million donation in April to the nonprofit Feeding America. When he made the announcements, his wealth had already grown by significantly more than those amounts this year. He hasnt signed the Giving Pledge.

MacKenzie Scott, Bezoss ex-wife, signed the pledge not long after the two announced their split. Scott said Tuesday that she has since donated $1.7 billion to several causes including racial equity, climate change and public health.

Theres no question in my mind that anyones personal wealth is the product of a collective effort, and of social structures which present opportunities to some people, and obstacles to countless others, she said.

Big Tech companies have earned some grudging respect, even from critics, during the pandemic.

We have been fortunate to have these digital technologies, said MITs Acemoglu. Without them, the fallout from the lockdowns and social distancing would have been worse.

That may come with a cost: This is going to make the domination of tech companies over the economy and our social lives much worse, and its going to significantly accelerate the trend toward greater automation, Acemoglu said. He warns that techs rapid ascent may deepen inequality, shrink the number of good jobs, and weaken democracy.

Such concerns could help shift Big Tech and its billionaires into the crosshairs of governments whose finances have been devastated by the pandemic. Heading into this years U.S. presidential race, Elizabeth Warren and Sanders proposed wealth taxes on billionaires, an idea that polled well with voters.

Former Vice President Joe Biden, the presumptive Democratic nominee, hasnt embraced the wealth tax, but hes campaigning on higher rates on the rich and corporations, as well as the closing of estate-tax loopholes.

Absent a wealth tax or some other innovative new kind of levies, it will be difficult to tax the fortunes of Zuckerberg, Bezos and other tech billionaires. Much of their fortune is in the form of rising stock, which isnt taxed until its sold.

Billionaires are accumulating a huge amount of unrealized capital gains, on which theyre not paying much - if any tax, said University of California at Berkeley economics professor Gabriel Zucman, who helped Sanders and Warren develop their wealth-tax proposals.

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Jeff Bezos, Mark Zuckerberg and Elon Musk have made $115 billion this year - The Indian Express

Social media is awash with people talking about a new piece of software called GPT-3, which has been developed by OpenAI, an Elon Musk-backed artificial intelligence lab in San Francisco.

GPT-3 (Generative Pre-training) is a language-generation tool capable of producing human-like text on demand.

The software learned how to produce text by analyzing vast quantities on the internet and observing which letters and words tend to follow one another.

OpenAI started releasing it to a select few people last week who had requested access to a private early version, and many of them have been blown away.

"It's far more coherent than any AI language system I've ever tried," wroteentrepreneur Arram Sabeti in a blog post after testing.

"All you have to do is write a prompt and it'll add text it thinks would plausibly follow. I've gotten it to write songs, stories, press releases, guitar tabs, interviews, essays, technical manuals. It's hilarious and frightening. I feel like I've seen the future."

The company wants developers to play with GPT-3 and see what they can achieve with it, before rolling out a commercial version later this year. It's unclear how much it will cost or how the system might be able to benefit businesses, but it could potentially be used to improve chatbots, design websites, and prescribe medicine.

OpenAI first described GPT-3 in a research paper published in May. It follows GPT-2, which OpenAI chose not to release widely last year because it thought it was too dangerous. It was concerned that people would use it in malicious ways, including generating fake news and spam in vast quantities.

GPT-3 is 100x larger than GPT-2. It is said to be far more competent than its predecessor due to the number of parameters it is trained on: 175 billion for GPT-3 versus 1.5 billion for GPT-2.

While it may be brilliant in many ways in its current form, it's certainly got its flaws: developers have noticed that GPT-3 is prone to spouting out racist and sexist language, even when the prompt is something harmless. It also churns out complete nonsense from time to time that's hard to imagine any person saying.

"If you assume we get NLP (natural language processing) to a point where most people can't tell the difference, the real question is what happens next?" said Trevor Callaghan, a former employee at rival lab DeepMind.

"And at that point the big issue is whether we can map out those effects and debate them and figure out what to do about it, and relatedly who should be doing that."

Some are also concerned that it could end up replacing certain jobs. The chief technology officer of Oculus VR said: "The recent, almost accidental, discovery that GPT-3 can sort of write code does generate a slight shiver."

Facebook's head of AI, Jerome Pesenti, wrote on Twitter on Wednesday that he didn't "understand how we went from GPT-2 being too big a threat to humanity to be released openly to GPT-3 being ready to tweet, support customers or execute shell commands."

Sam Altman, the former Y-Combinator president who is now chief executive of OpenAI, attempted to downplay the hype around GPT-3 earlier this week.

"The GPT-3 hype is way too much," he said on Twitter. "It's impressive (thanks for the nice compliments!) but it still has serious weaknesses and sometimes makes very silly mistakes. AI is going to change the world, but GPT-3 is just a very early glimpse. We have a lot still to figure out."

OpenAI isn't the only company to develop language-generating software.

In 2016, Microsoft developed a Twitter bot called Tay which was quickly disabled after it started publishing racist tweets.

OpenAI did not immediately respond to CNBC's request for comment. However, Jack Clark, OpenAI's policy director, told The Guardian last year: "We need to perform experimentation to find out what they can and can't do."

"If you can't anticipate all the abilities of a model, you have to prod it to see what it can do. There are many more people than us who are better at thinking what it can do maliciously."

OpenAI was set up as a non-profit with a $1 billion pledge from a group of founders that included Musk.In February 2018,Musk left the OpenAI boardbut he continues to donate and advise the organization.

OpenAI made itself for-profit in 2019 and raised another $1 billion from Microsoft to fund its research. GPT-3 is set to be OpenAI's first commercial product and Reddit has signed up as one of the first customers.

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Why everyone is talking about the A.I. text generator released by an Elon Musk-backed lab - CNBC

Elon Musk on Monday shared a rare photo of his new baby, X A-Xii Musk.

"Das baby kann noch keinen lffel benutzen," Musk wrote in a caption accompanying a photo of him holding his son. The German phrase translates to "The baby cannot use a spoon yet."

We've only seen a handful of photos of the new baby since Musk and his girlfriend, the musician Grimes, welcomed him on May 4. Musk shared at the time that "Mom & baby all good" and announced the name: X A-12 Musk.

Since then, however, the couple has had to tweak the name slightly to comply with California laws about naming a baby, which stipulate that the name can include only the 26 letters of the English alphabet. Grimes later saidthat the couple changed the spelling of the baby's name to comply with the state law the new spelling is "X A-Xii," according to Grimes.

In mid-May, Musk appeared on the"Joe Rogan Experience" podcastand shared for the first time how he pronounces the name.

"It's just X, the letter X. And then the is, like, pronounced 'ash,'" Musk told Rogan. "And then A-12 is my contribution ... Archangel-12, the precursor to the SR-71, coolest plane ever."

While it's still not quite clear how the latter half of the name is pronounced whether it's "X Ash Archangel-12" or "X Ash A-12" it appears that Musk and Grimes are keeping it simple day-to-day and calling the baby, simply, "X."

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Elon Musk shared a rare photo of his newborn baby, X A-Xii - Business Insider - Business Insider

In a free-wheeling interview with New York Times columnist Maureen Dowd, Tesla CEO Elon Musk said his Twitter direct messages are mostly made up of memes, and he isnt overly worried about them being hacked.

Musks was one of more than 100 high-profile Twitter accounts compromised as part of a July 15th Bitcoin scam. The company has said the attackers may have downloaded the private direct messages and personal information of some people in the process, although Twitter said none of those were verified accounts, as Musks is.

Im not that concerned about my DMs being made public, Musk told Dowd. I mean, we can probably cherry pick some section of my DMs that sound bad out of context but overall my DMs mostly consist of swapping memes.

During the conversation with Dowd, Musk said he has a secret Instagram account to see links of things that people send me (paging Ashley Feinberg...) and that he thinks he may have had COVID-19 in January.

I think the reality of Covid is that it is dangerous if youre elderly and have pre-existing conditions, he said in the interview. It absolutely makes sense to have a lockdown if youre vulnerable, but I do not think it makes sense to have a lockdown if youre not vulnerable. Musk went toe-to-toe with officials in Fremont, California, reopening his companys car factory there in May in violation of a local shelter-in-place order. He told Dowd he wears a mask on the factory floor.

One of the more puzzling aspects of the interview is how Dowd paints Musks personal relationships: Certainly, the titan can be a romantic. She lists several of his more high-profile relationships, including his current girlfriend Grimes, and actresses Talulah Riley and Amber Heard, but makes no mention of Musks first wife Justine mother of five of his sons whom he divorced in 2008.

Musk doesnt grant many interviews, so its interesting to see him answer questions about SpaceX, Tesla, Facebook, AI, Twitter, and that copy cat tweet he sent to Amazon and Blue Origin CEO Jeff Bezos. And in case you were wondering: Hes OK with President Trump calling him one of our great geniuses following the May launch of SpaceXs Crew Dragon.

Ill take the compliment, Musk said.

Were as shocked as you are.

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Tesla CEO Elon Musk says his Twitter DMs are mostly for swapping memes - The Verge

Elon Musk offered to "arrange 24/7 security" for actress Amber Heard in 2016, according to texts read in a London court on Tuesday.

The High Court in London heard that Musk made the offer after Heard told him that she wanted a restraining order against her ex-husband, Johnny Depp, after alleging he was violent toward her during their marriage. She received a temporary restraining order against him in 2016.

Depp has accused Heard of having affairs with Musk and actor James Franco. Heard denies having an affair with anyone.

Depp is suing The Sun newspaper's publisher News Group Newspapers for libel after a 2018 article labeled him a "wife beater" in reference to his former marriage with Heard. Depp denies all accusations of physical abuse and has accused Heard of being the one who abused him, which she denies.

Amber Heard and Johnny Depp divorced in 2017. Getty Images

Heard also denies that Musk visited her in 2015 while then-husband Depp was away, telling the High Court that she only met Musk the following year.

According to the BBC, Depp's lawyer, Eleanor Laws QC, read out the texts sent on May 22, 2016, between Heard and Musk, in which Heard told Musk she wanted a restraining order against Depp.

Thes texts came a day after an alleged incident at Heard and Depp's LA home. Heard says that Depp became violent and threw his phone at her, leaving marks on her face. Depp denies the accusations.

In relation to the offer of "24/7 security," the texts from Musk to Heard said: "The offer would stand, even if you never wanted to see me again... anyway, sorry for being an idiot. The radio silence hurts a lot. It only matters because I really like you."

Depp alleges that Heard had an affair with James Franco, which Heard denies. Frederick M. Brown/Getty Images

Laws also cited a statement from Alejandro Romero, who was the concierge at the Eastern Columbia Building, where Depp and Heard lived.

Romero said that he saw Musk visiting Heard "when Mr. Depp was in Australia."

"From March 2015 onwards, Ms. Heard was visited regularly late at night, at around 11 p.m. to midnight, by Mr. Elon Musk," Romero said in his written statement.

Heard denies this and told Laws that Romero was "wrong." Heard said she didn't speak to Musk until 2016 and denied that she was in a "relationship or seeing" Musk during the dates Romero and Laws suggested.

Laws also questioned Heard over the allegation of an affair with Franco, which Heard denies.

Laws showed CCTV footage of Heard and Franco together in an Eastern Columbia Building elevator on May 22, 2016 the same day as the texts between Musk and Heard at 11 p.m. PT. Shortly after, the footage showed them travel back upstairs with Franco.

Heard confirmed that the people in the elevator footage were indeed her and Franco, and told Laws that when Franco saw her face he said: "Oh my God, what happened to you?"

Heard said: "In those days, I didn't sleep much at night."

Insider has reached out to representatives for Musk and Franco for comment.

The case between Depp and The Sun started on July 7 and has so far included testimony from Depp, Heard, as well as from Depp's famous exes including Winona Ryder and Vanessa Paradis.

Depp and Heard first met on the set of the 2011 movie "The Rum Diary" and were later married in 2015.Heard filed for divorce two years later in 2017.

Read more:

A complete timeline of Johnny Depp and Amber Heard's tumultuous relationship

Amber Heard testified against Johnny Depp during her first day in the witness box for his ongoing libel trial

Winona Ryder and Vanessa Paradis showed support for their ex Johnny Depp in his ongoing libel trial

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Elon Musk offered to 'arrange 24/7 security' for Amber Heard in 2016, texts read in court show - Insider - INSIDER