Category Archives: Elon Musk

Time magazine has officially named their 2021 Person of the Year: its SpaceX and Teslas Elon Musk.

Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth too, Time editor-in-chief Edward Felsenthal wrote. In 2021, Musk emerged not just as the worlds richest person but also as perhaps the richest example of a massive shift in our society.

This is the man who aspires to save our planet and get us a new one to inhabit: clown, genius, edgelord, visionary, industrialist, showman, cad; a madcap hybrid of Thomas Edison, P.T. Barnum, Andrew Carnegie and Watchmens Doctor Manhattan, the brooding, blue-skinned man-god who invents electric cars and moves to Mars. His startup rocket company, SpaceX, has leapfrogged Boeing and others to own Americas spacefaring future. His car company, Tesla, controls two-thirds of the multibillion-dollar electric-vehicle market it pioneered and is valued at a cool $1 trillion. That has made Musk, with a net worth of more than $250 billion, the richest private citizen in history, at least on paper. Hes a player in robots and solar, cryptocurrency and climate, brain-computer implants to stave off the menace of artificial intelligence and underground tunnels to move people and freight at super speeds, the magazine added.

Find out who was named Times Person of the Year last year.

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Elon Musk Photos, News and Videos | Just Jared

Tesla CEO Elon Musk and Twitter co-founder Jack Dorsey two of the world's best-known tech billionaires have been voicing their thoughts on a hypothetical new iteration of the internet this week: "Web3".

While still a hazy concept, Web3, or Web 3.0, has been hailed by proponents as a decentralized version of the internet based on blockchain, the technology behind many major cryptocurrencies and nonfungible tokens, or NFTs. A plethora of entrepreneurs around the world are trying to design and build the technologies and protocols that would support Web3.

Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Musk answered a range of questions relating to SpaceX projects during his appearance at the conference.

Win McNamee | Getty Images

Advocates of Web3, which would follow Web1 and Web2, argue that today's online platforms are too centralized and controlled by a handful of large internet companies, likeAmazon,Apple,Alphabetand Facebook parent companyMeta. These companies have amassed vast quantities of data and content that's been shared on the internet.

On Sunday, Musk tweeted a TikTokof aninterview about the internet between Bill Gates and David Lettermanin 1995, asking: "Given the almost unimaginable nature of the present, what will the future be?"

He followed up saying: "I'm not suggesting web3 is real seems more like a marketing buzzword than reality right now just wondering what the future will be like in 10, 20 or 30 years. 2051 sounds crazy futuristic!"

A day later, Musk followed up saying: "Has anyone seen web3? I can't find it."

To the annoyance of Web3 fans, Dorsey hinted that it's already under the control of venture capital firm Andreessen Horowitz, an early Facebook backer and a Web3 advocate.

"It's somewhere between a and z," said Dorsey, who stepped down as Twitter CEO last month to focus on his payments start-up, Block, formerly Square.

Web3's army of supporters ultimately wants to see the power of the internet put in the hands of the people, not VCs. They believe it's too big and important for a small number of companies or investors to manage.

Today the internet is vital to the global economy and plays a role in powering everything from nuclear facilities to hospitals.

But Dorsey believes that VCs and their limited partners will be the ones who ultimately end up owning Web3. "It will never escape their incentives," he tweeted, causing a backlash from fans of the concept. "It's ultimately a centralized entity with a different label."

His tweet received over 26,500 likes and 5,900 retweets in nine hours, with some saying he was "dead wrong" or that they highly disagreed.

Beyond the internet, there's also a big push to decentralize finance (DeFi) that is being led by cryptocurrency entrepreneurs and fans of coins like bitcoin and ether.

A similar movement is happening in the energy industry. All energy used to be generated by a select few companies and then sold to the masses. Now some people are taking control of their own energy needs and making it more decentralized.

CNBC's Ryan Browne contributed to this report.

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Elon Musk and Jack Dorsey are talking about 'Web3' heres what it is and why it matters - CNBC

Elon Musk, CEO of Tesla, stands on the construction site of the Tesla Gigafactory. In Grnheide near Berlin, September 3, 2020.

Patrick Pleul | picture alliance | Getty Images

Elon Musk faces a hefty tax bill this year possibly the biggest in U.S. history.

"For those wondering, I will pay over $11 billion in taxes this year," the Tesla CEO tweeted on Monday.

That's close to a CNBC estimate that Musk was set to pay a total of $12 billion in taxes in 2021.

Musk has sold off $14 billion worth of Tesla stock since early November, after asking his followers in a Twitter poll if he should sell 10% of his holdings. The response to that poll was a resounding "yes."

But it's likely Musk would have begun selling anyway. That's because he faces a massive tax bill on Tesla stock options.

Stock options Musk was awarded in 2012 are set to expire in August next year. In order to exercise them, he has to pay income tax on the gain.

Rather than take a salary or cash bonus, Musk's wealth comes from stock awards and gains in Tesla's share price.

Though Tesla shares have taken a tumble since Musk's Twitter poll, they remain incredibly valuable the stock is up 28% year-to-date.

When Musk wants cash, he can simply borrow money using his company's stock as collateral. However, this practice has been criticized by some politicians as a tax loophole for the mega-rich.

Earlier this year, ProPublica published an investigation showing Musk and several other billionaires paid no federal income taxes in 2018.

Between 2014 and 2018, Musk paid $455 million in taxes on $1.52 billion of income, according to ProPublica, despite his wealth growing by $13.9 billion over that period.

According to Forbes, Musk is worth over $244 billion on paper, making him the world's richest man.

Musk could have waited until next year to pay the tax bill, but that would have meant potentially getting hit by higher tax rates under the Democrats' Build Back Better bill.

The Tesla and SpaceX chief has been sparring with prominent Democrats on Twitter lately over the issue of tax avoidance.

Last week, he fired back at Senator Elizabeth Warren after she questioned Time Magazine's decision to name Musk its Person of the Year, tweeting: "I will pay more taxes than any American in history this year."

And if Musk does end up paying the huge sum he said he would, there's a chance he may be right.

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Elon Musk says he will pay over $11 billion in taxes this year - CNBC

With 66.8 million followers on Twitter, Elon Musks tweets attract an outsized amount of attention. So, when Musk tweeted December 16 that the new Tesla factory east of Austin would represent a long-term investment of at least $10 billion, generating over 20,000 direct jobs and 100,000 indirect jobs, it raised more than a few eyebrows.

Until thattweetappeared, Tesla the Austin-based electric vehicle maker headed by Musk had indicated it would invest $1.1 billion in theplantand would create at least 5,000 jobs and potentially 10,000 jobs there. As such, was Musks December 16 tweet promising far more than that a spot-on statement or a far-fetched embellishment? Musk hasnt elaborated on his tweet, but experts believe his pronouncement isnt in the wrong lane.

Corporate site consultant John Boyd doesnt think the tweet is hyperbole from larger-than-life Musk, who is the worlds richest person.

The magnitude of the Austin campus,the sea change transforming the North American auto industry, and Musks extensive business enterprises could easily support those kind of numbers, Boyd says. I have found that the outspoken Musk is not prone to exaggeration and has no problem speaking his mind.

Moreover, Boyd foresees Musk bulking up the Austin factory site which is nowTeslas corporate headquarterswith operations from his other ventures, such as SpaceX and Neuralink.

Teslais just a piece of the pie for Musk.Look for him to co-locate some of his other enterprises on his massive Austin site, Boyd says. It would behard for him to find a better labor market and a more favorable state business and tax climate than he now enjoys in Austin.

Teslas production capacity at the Austin plant for its Model Y, Cybertruck, and Semi vehicles could warrant Musks new claims about the size of the new factorys investment and workforce, says Matt Patton, executive vice president of Austin-based economic development consulting firm AngelouEconomics.

The potential for expanding the factory is there, Patton says.

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Elon Musk says Tesla's new Austin factory will drive $10 billion in total investment - CultureMap Austin

Elon Musk was born in South Africa and educated at the University of Pennsylvania. He sought and made his fortune in Californias Silicon Valley. But that doesnt mean we cant dub the 50-year-old Tesla and SpaceX CEO and, after his recent stock sell-off, the worlds richest man an honorary Texan.

Indeed, long before Musk announced in October that he was moving Teslas headquarters to Austin, hed invested $1.1 billion on a new Tesla manufacturing plant in southeastern Travis County. He made Texas ground zero for his aerospace and rocket company, SpaceX, which has multiple facilities across the state and its flagship launch site in southern Texas near Boca Chica.

Thats all made national headlines, as have reports that Musk, who plans to move the headquarters of his private foundation, the Musk Foundation, to Austin, is currently living in a modest, $50,000 prefab house near the SpaceX launch site.

Whats lesser known, as this newspaper reported last month, is the expansion in Texas of Musks tunneling and infrastructure company, the Boring Co. Or that Tesla Energy was recently licensed to provide energy in Texas and has plans to build the first solar neighborhood in Austin.

All this investment and job creation in the great state of Texas would clearly qualify Musk, who became a U.S. citizen in 2002, as a candidate for Texan of the Year. But it was, more specifically, his game-changing philanthropic efforts and charitable giving to worthy organizations in Texas and beyond and in some of our most underserved areas that earned him a spot as a finalist for 2021 Texan of the Year.

In September, a SpaceX flight raised more than $200 million for pediatric cancer research at St. Jude Childrens Research Hospital in Tennessee, with Musk personally contributing $50 million toward that goal.

Earlier in the year, Musk shocked many in Texas with his announcement that he was donating $20 million to Cameron County schools and $10 million to City of Brownsville for downtown revitalization.

That came on top of Musks $1 million donation to Feeding Texas, a nonprofit that operates more than 20 food banks across the state that help feed more than 5 million Texans annually. What was reportedly intended to be $100,000 to help with COVID-19 relief ballooned to $1 million after Februarys winter storms paralyzed parts of the state, hitting low-income families the hardest.

Thats the kind of generosity and neighborliness that Texans are famous for. And just one more reason why Elon Musk, who we hope continues to put down roots in Texas even as he reaches for the stars, is a finalist for Texan of the Year.

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Texan of the Year finalist Elon Musk invests in Texas while reaching for the stars - The Dallas Morning News

Block (formerly Square) CEO Jack Dorsey and Tesla CEO Elon Musk took to Twitter on Tuesday to discuss venture capital firms participating in the development of web3.

You dont own web3, Dorsey tweeted. The VCs and their LPs do.

Twitter user Balaji Srinivasan replied to Dorseys tweet, saying that he disagreed and cited Twitter as an example of a web innovation that ultimately gave in to corporate and political incentives.

Dorsey responded that Twitter had started as a corporation and maintained its corporate incentives from its inception, whereas web3 is being controlled by corporate incentives but hides under decentralization.

Musk chimed in to the discussion, tweeting: Has anyone seen web3? I cant find it.

Web3 is a term often used to describe the next era of the internet, pegged to blockchain technology and the creation of the metaverse. Several major companies and brands have recently announced an expansion into web3, including Facebook (now Meta), adidas, and Balenciaga.

In other news, the latest installment of HYPETALKS discussed fashion and the metaverse.

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Jack Dorsey and Elon Musk Discuss Ownership in web3 | HYPEBEAST - HYPEBEAST

Smartphones are so popular, you might assume that phone calls, text messages, video chat, Slack, Trello, or just social media would have surpassed email as the most popular form of communication. Surprisingly, they have only enabled its growth.

Email is, hands down, the most prominent form of communication and collaboration among businesses, and thats not expected to change any time soon. Over the course of the last year, there has been considerable discussion about the role of email in workplaces that depend heavily on social network and other collaboration tools, says David Roe of CMS Wire.

In these discussions, there appears to be a general consensus that while social networks are useful to achieve work-related goals, email remains the undisputed communications tool in the enterprise. The statistics back up these claims.

Worldwide, there are more than 2.5 billion users, and that number is expected to continue to climb. That represents more than a third of the global population operating one or more active accounts.

Right now, only about 25% of current accounts are business accounts, but we can expect a rapid increase in those as well. The average office worker will send and receive as many as 121 emails per day.

David Roe also addressed a SendGrind study called The Future of Digital Communication, which evaluated trends in digital communication among the various generations. The findings showed that 74% of people chose email as their preferred method of communication and 89 percent email at least once every month for business or personal reasons.

Email is a huge part of our collaborative and communicative society, so understanding its role in business and society can play a huge role in mastering trends to the best advantage in your enterprise.

Roe further explains that, although the status of email has not changed within the walls of business enterprises, it has evolved. The kinds of people using it are changing so it is only logical that the way it is being used is going to change too, he says.

A younger generation thats more in tune with digital trends and technology will soon be dominating the workforce, and email is adapting. SendGrind CMO Scott Heimes said in The Future of Digital Communication report that new technology will render email a new, more useful entity.

Heimes said. Marketers will leverage data from email marketing, display retargeting, social media ads, and chatbots to create a cohesive and unified experience for customers.

This is just a glimpse of whats to come for email users, and businesses may capitalize on their new roles for more effective collaboration.

Given the steadily evolving landscape that is email, here are the chief reasons we can expect it to stick around as a viable business tool:

Convenience: Can you imagine being on the phone or texting/social messaging for the equivalent of 121 email messages per day? You can often accomplish more in a 10-minute phone call than you can in 10 emails, but sending and receiving messages when its the most convenient option can be a huge draw for busy employees.

Security: Phone calls can be overheard, texts intercepted, and social media messaging accounts hacked. Email can also be hacked, but thanks to encryption services that plug right into Microsoft, Gmail, or other enterprise email services, that data can be protected.

Work-From-Home Collaboration: Although collaboration programs are popular, working from home simply wouldnt be possible for this many people without email.

Ease of Talking to People: Some people freeze up when they speak on the phone. Others just dont like it. Millennials and Gen Z employees are entering the workforce in full swing now, and their use of digital technology makes email a go-to solution. Workers who hate phone conversations can communicate easily with their devices and avoid too much interpersonal interaction.

Information Transfer: Theres rarely a better method of transferring information than via email. Not only can you transfer files and documents to the recipient(s), but you can also store the information for future reference.

Instant Notifications: Speeds are faster than ever. Posts arrive in your inbox nearly instantaneously. Real-time communication is practicable in a convenient, simple method.

Ease of Access: Thanks to smartphones, you can get access to your email pretty much anywhere. Theres also no need for a WiFi connection since data plans are robust and cell phone coverage broader than ever.

Email is not a perfect system. Like every other form of communication it has its downsides, but its proven to be the most useful form of communication to date. Although new forms of collaboration surface regularly, email probably isnt going anywhere.

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Elon Musks SpaceX is on the brink of bankruptcy due to an engine crisis - The American Genius

The IXPE Mission was recently launched on a Falcon 9 rocket. (Image Credit: Twitter/@SpaceX)

It has been six years since Elon Musks SpaceX landed its first rocket in a trial test. The Falcon 9 rocket has now been used in many missions and has made reusable rockets not just a reality, a common approach for space missions. The Falcon 9 has now landed its booster 100 times successfully on Earth after launching missions in space. On the occasion, SpaceX CEO Elon Musk on Twitter expressed his gratitude towards the success of the technology. In a response to a Tweet from a Twitter user, Musk said it is hard to believe the technology is working. Still kinda hard to believe it is working," Musk said in a response to a tweet.

The Twitter user had also tweeted about the fact that in just six years time, the technology is more mainstream than people would have thought. Its really hard to comprehend that it was 6 years ago today when SpaceX landed their rocket for the first time ever in history. Before that reusable rockets were basically science fiction. Thanks to SpaceX & @elonmusk for turning sci-fi to reality," a user named Pranay Pathole said.

The SpaceX Falcon 9 is a partially reusable two-stage-to-orbit medium-lift launch vehicle designed and manufactured by SpaceX. The rocket has been used in many missions and has recently created a landmark of landing its booster 100 times after launching missions.

In its latest mission, the Falcon 9 launched a Dragon spacecraft to the International Space Station (ISS). The Dragon spacecraft is carrying nearly 3,000 kilograms of experiments and other cargo, such as biomedical and materials science investigations. SpaceX landed 31 Falcon 9 boosters successfully in 2021.

Read all the Latest News, Breaking News and Coronavirus News here.

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Elon Musk On SpaceX Landing 100th Falcon 9 Rocket: Hard To Believe - News18

The Twitter handle of Aam Aadmi Party's Uttar Pradesh (@AAPUttarPradesh) unit was reportedly hacked on Tuesday and the hacker changed the name of the account to Elon Musk.

In one of the tweets, the hacker wrote: "I finally decided to share my wealth with all of you." "I believe this is the best way we advance new era of technology," he added. "Think of it as a surprise I promised earlier to you," he said in a follow-up tweet.

Check out the screenshots below:

Meanwhile, the account has now been restored.

Incidentally, popular poet and former Aam Aadmi Party (AAP) leader Kumar Vishwas also said his YouTube account has been hacked today and its name has been changed to 'Ethereum Canada'.

Taking to Twitter, he said his personal YouTube account has been hacked by a Canadian hacker. Tagging YouTube India, he requested to restore it as soon as possible.

This comes only a few days after Prime Minister Narendra Modi's Twitter account was briefly hacked and a tweet promoting cryptocurrency was already been shared from the handle.

"India has officially adopted bitcoin as legal tender. The government has officially bought 500 BTC and is distributing them to all residents of the country," read the tweet.

Later, the account was restored. "The Twitter handle of PM @narendramodi was very briefly compromised. The matter was escalated to Twitter and the account has been immediately secured. In the brief period that the account was compromised, any tweet shared must be ignored," PMO India said in a tweet.

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Did Elon Musk tweet from Aam Aadmi Partys Twitter handle? Heres what happened - Free Press Journal

Elon Musk called Elizabeth Warren Senator Karen and said she reminded him of an angry Mom on Tuesday after the Massachusetts Senator said the Tesla CEO should pay more in taxes.

Lets change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else, Warren tweeted with a link to a story about Musk being named Time Magazines 2021 person of the year.

Stop projecting! Musk replied with a link to a Fox News opinion article arguing that the Massachusetts Democrat lied about having Native American heritage in order to benefit from affirmative action polices.

You remind me of when I was a kid and my friends angry Mom would just randomly yell at everyone for no reason, Musk added.

Please dont call the manager on me, Senator Karen, Musk said in a third tweet accompanied by a praying hands emoji.

Please dont call the manager on me, Senator Karen

The spat comes as Warren and other DC Democrats mull wealth taxes and other measures that could potentially put Musk, Jeff Bezos and Mark Zuckerberg on the hook for billions of dollars by taxing their unrealized gains.

Musk who is the worlds wealthiest man with a net worth of $252 billion, according to Forbes has routinely hit progressive politicians with crude insults on Twitter.

In November, Oregon Democratic Sen. Ron Wyden reiterated his support for a wealth tax for billionaires on Twitter.

Why does ur pp look like u just came? responded Musk in apparent reference to the senators profile photo.

Musk also attacked Sen. Bernie Sanders that same month after the Vermont independent expressed support for raising taxes on billionaires.

I keep forgetting that youre still alive,replied Musk.

Want me to sell more stock, Bernie? Just say the word the mogul added in reference to the billions of dollars of Tesla shares he has sold this year to cover tax bills.

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Elon Musk calls Elizabeth Warren Senator Karen in spat ...