Category Archives: Elon Musk

(KXAN) Elon Musk has now widened the gap between himself and Jeff Bezos as the richest person in the world, according to the Bloomberg Billionaires Index.

Musks total net worth stands at $227 billion, while Bezoss net worth stands at $189 billion.

Musk tweeted a second-place medal emoji to the Amazon founder on Twitter Tuesday:

The Tesla and SpaceX CEO made headlines last week after announcing that the electric car brands headquarters was moving to the Lone Star State.

During an annual meeting with stockholders, Musk announced the move to Austin.

Tesla announced last year that Travis County would be the home of its new gigafactory.

Our factory is five minutes from the airport, 15 minutes from downtown, and were going to create an ecological paradise, because were right on the Colorado River. Its going to be great, Musk said to stockholders last week.

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Elon Musk trolls Jeff Bezos as net worth rises to $227B, widens gap for richest person in the world - KXAN.com

Richard Branson, Jeff Bezos, Elon Musk

Joe Skipper | Reuters; Joe Raedle | Getty Images; Paul Hennessy | SOPA Images | Getty Images

"In our view this equates to lost momentum in the space tourism race given the recent successes had by SpaceX (Private) and Blue Origin (Private)," Truist analyst Michael Ciarmoli wrote in a note to investors Friday.

Today's reality does not match the perception of the space tourism race presented just a few months ago, when Branson in July flew successfully to space with Virgin Galactic just nine days before Bezos launched with Blue Origin. At the time, the dueling spaceflights made it seem like the companies were neck-and-neck.

Yet, three months later, Blue Origin has flown its second and third customers on its New Shepard rocket, while Virgin Galactic has yet to launch one of the about 600 people who have reservations for tickets on future flights.

The Inspiration4 passengers pose in the crew access arm of Launch Complex 39A at NASA's Kennedy Space Center in Florida. From left: Commander Jared Isaacman, medical officer Hayley Arceneaux, pilot Sian Proctor, and mission specialist Chris Sembroski.

SpaceX

Notably, Elon Musk's SpaceX also launched and returned four non-professional astronauts on the private Inspiration4 mission in September.

But the SpaceX experience is very different compared to flying with Virgin Galactic or Blue Origin.

The SpaceX crew flew many times further to orbit, rather than the edge of space; they spent three days in orbit, rather than just a couple of minutes; and the price of a SpaceX trip is around $200 million (based off the $55 million that NASA is paying per astronaut for missions), vs. $200,000 to $450,000 for a Virgin Galactic ticket.

Blue Origin has declined to disclose how much its passengers are paying for tickets. The only indication of Blue Origin's pricing structure is a public auction the company held for a seat on its first flight with Bezos, which went for $28 million. Bezos has since said that his company has sold nearly $100 million worth of tickets for New Shepard flights.

Additionally, Inspiration4 mission commander and benefactor Jared Isaacman emphasized to CNBC that his launch with SpaceX was not "a joyride." The primary aim of the mission was to raise funds for St. Jude Children's Research Hospital, and the campaign has exceeded its goal raising $238.5 million to date, including $125 million from Isaacman.

While Virgin Galactic may be falling behind Blue Origin in the suborbital market, Branson's company has previously estimated that it sees demand from millions of high net worth individuals for spaceflights far more than the two companies can supply in the next decade.

That sentiment was shared by some Wall Street analysts Friday who largely stuck by existing estimates for Virgin Galactic's stock after the company's delay.

"The company's competitor, Blue Origin, only expects to conduct seven additional flights (at most 28 humans) between now and 2023, ultimately having a negligible impact on the outstanding customer [total addressable market] for suborbital space tourism," Canaccord Genuity analyst Austin Moeller said in a note to investors.

Overall, 2021 is the year of private companies launching non-professional astronauts to space, with 16 so far: four with SpaceX, four with Virgin Galactic, and eight with Blue Origin.

It's also not finished yet, as Blue Origin plans to launch its third crewed New Shepard flight before the end of the year. Additionally, in early 2022, SpaceX is scheduled to launch the Ax-1 mission for Axiom Space, which will carry a retired NASA astronaut and three paying passengers for a stay at the International Space Station and Axiom has a deal in place for at least three more missions after that.

To learn more about the companies' different approaches to space tourism, click here.

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Branson is trailing Bezos in space tourism, while Musk's SpaceX competes in a league of its own - CNBC

Elon Musk is a man who dreams big. Getting humans to Mars and weaning the world off fossil fuels arent exactly easy-to-achievegoals. Can Musk make it happen? That remains to be seen. By all accounts, hes making some serious progress. Carmine Gallo atInc. recently attempted to outline Musks three key steps necessary to achieve the impossible.

It turns out that Eric Berger, author ofLiftoff,had unprecedented access to Musk anddozens of SpaceX employees, many of whom are still with the company today. Inc.s Gallo sat down with Berger to better understand how Muskinspiredhis SpaceXstaff during the companys desperate early days to do what no one thought possible.

According to Gallo, in the early days of SpaceX, Musks [far out] vision of getting to Mars was crazy hard and nearly impossible. But it was not entirelyimpossible. The challenge motivated scientists and engineers to figure out a way to do it.

People often overestimate what they can accomplish in a year (Musk is guilty of missing many self-imposed deadlines), but they underestimate what they achieve in a decade. By keeping his team focused on the big picture, Musk made sure his employees never forgot what they were striving for, notes Gallo.

After articulating the big vision, Musk drilled down and kept his team focused on achieving one step after another. Musk came up with ways to challenge engineers. For example, Musk promised one scientist working on computer simulations that hewould buy a frozen yogurt machine for the office if the employee hit an ambitious deadline. Musk lost the bet. The yogurt machine is still in the cafeteria at SpaceX headquarters, cites Gallo.

Gallo notes, Successful entrepreneurs know that the only way to grow big is to take small steps. So take tiny steps, even if the final destination is hard to reach. And make sure you celebrate each win.

Musk is a relentless optimist who refuses to accept defeat. After the failure of the first rocket launch, SpaceXs 300 employees feltdemoralized, butMusk was able to make a powerful shift in their attitude, says Gallo.

First, Musk offered perspective. He told them about other iconic rockets that had failed their early tests. Second, he focused on what went right, praising the team on the performance of the rockets main engine, its avionics system, and more. Musk concluded, SpaceX is in this for the long haul and, come hell or high water, we are going to make this work.'

Gallo says, One employee said that, even though the first launch failed, theyd walk through walls for Musk after listening to his pep talk.

Originally posted onEVANNEX.

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Elon Musk Anecdotes & 3 Steps to Achieve the Impossible - CleanTechnica

They are invisible to the naked eye, but can leave a streak of light across an astronomers telescope. Above our heads, the constellation of small satellites orbiting the Earth is expanding every month. Often no bigger than a fridge, they are part of a new space race as rivals compete to beam broadband internet to the hardest-to-reach places on Earth.

The frontrunners are Starlink, backed by US tech entrepreneur Elon Musk, and OneWeb, which is part- owned by the British taxpayer. The latters plan to build a network of 650 satellites is a centrepiece of the UKs space strategy, unveiled in September.

In 2020, OneWeb was facing insolvency and the government was persuaded to rescue it. To Boris Johnson it was a gift from the heavens. The UK had been bounced by Brexit from the European Unions Galileo satellite project, and there was Dominic Cummings, technology wonk and chief adviser, touting the network as a pathway back into space.

OneWeb at the time was focused on using satellites to provide accurate positioning information for anything from smartphone maps to emergency services tracking.

Johnsons splurging of 400m of taxpayer money on a 20% stake was seen by Cummings as a perfect example of the high-risk, high-reward investment the government needed to avoid being left in the technological slow lane. Others called it a nonsensical gamble of public money and nationalism trumping solid industrial policy. Some experts suggested Britain had bought the wrong satellites. OneWebs lower Earth orbit internet satellites were, they said, inferior to higher-orbiting positioning systems such as Galileo, Americas GPS and Russias Glonass.

But now, with demand for satellite broadband exploding, Britain may perhaps inadvertently have bought itself a prime seat in another innovative yet fledgling space industry.

Rejuvenated OneWeb has attracted investment from Japans Softbank, the USs Hughes Network Systems and Indias Bharti Enterprises. Bharti is the largest shareholder, with 38.6%, while the UK has sold down from 45% to 19.3%, on a par with Softbank and Frances Eutelsat, which is planning a further 120m injection this month.

OneWeb and Starlink are the only broadband operators to have actually placed satellites into space, and OneWeb is poised to provide a blanket of fast internet access, particularly to remote areas. The problem, analysts say, is that Johnson, who just weeks ago unveiled the UKs ambitious new space strategy promptly dubbed Galactic Britain has yet to see its potential.

When the UK withdrew from Galileo, we lost access to certain types of service that were essential for our national infrastructure, said Marek Ziebart, professor of space geodesy at University College London. The government tried to spin OneWeb as a cheap and quick way of delivering PNT [positioning, navigation and timing] services, and that was just a very bad idea. They havent let go of this idea yet.

The flipside, he says, is that with 322 OneWeb satellites already in orbit and its constellation almost half complete, the UK is well positioned to cash in on a lucrative and geopolitically advantageous broadband market.

Once youve started to occupy a part of space by launching satellites, its rather like the wild west land grab: other people are going to find it much harder to operate there as well, Ziebart said. You can see lots of people lining up to try to launch that kind of technology [and] it would put the UK in a technologically leading position if it all works. Its in the UK governments interest to have access to that kind of communications infrastructure. From a space policy perspective, getting a slice of the low Earth orbit communications satellite paradigm is really sensible, because that is the new paradigm.

Washington State-based Starlink, with the resources of Musk and the entire SpaceX fleet at its disposal, has stolen a march on rivals, including Amazons Kuiper project. It has launched almost 1,800 satellites, has approval for another 10,000, and has submitted an application for a constellation of 42,000 all while everyone but OneWeb is still on the ground.

Starlink is also the only operator to have developed a functional ground terminal to process signals from space into an internet service of up to 300Mbps, which Musk says is on schedule to finish its year-long beta testing stage this month. It expects to offer a mobile version of its fixed-location receiver, nicknamed Dishy McFlatface, by the end of the year.

The Kuiper project, meanwhile, with a $10bn investment from Jeff Bezos, has federal approval for 3,236 satellites, and in April signed a contract with United Launch Alliance for its first nine deployment flights, on dates yet to be determined. Other projects include a 13,000-strong constellation from China; a micro-satellite venture from the private company Astranis that is targeting Alaska; and Telesat, a Canadian company that won a CA$1.44bn (841m) government grant for its planned 298-satellite network.

The EU is investigating launching a constellation to provide satellite broadband by 2024. We cannot have the first service in 2040. If we do that, we are dead, Jean-Marc Nasr, head of Airbus Space Systems, who is leading a feasibility study, told the European Space Conference in January. Last month, however, the Sunday Telegraph reported that Brussels was mulling its own investment in OneWeb, raising the prospect of the EU joining the existing UK-Indian consortium to take on Starlink.

Yet even OneWeb, with secured investment already close to $5bn, is unlikely to be able to match Starlink, and eventually Kuiper, for scope, wealth or size of client base.

Nor is it trying to. OneWeb chief executive Neil Masterson told CNBC he believed the demand for satellite broadband could support several vendors. There are some areas where we will compete, but governments will always buy more than one service, he said. Multiple players will be able to be successful in addressing their market.

Satellite broadband has also attracted criticism. Astronomers and environmentalists are angry at light pollution from satellites in low orbit, and trackers of space debris point to vastly increased collision risks. Ziebarts students modelled a 10-year scenario showing an alarming spike in the numbers of orbiting satellites.

Professor John Crassidis of the University at Buffalo, who advises Nasa on space junk, said: We already monitor some 23,000 objects of softball size and bigger. To add to that many more satellites is going to be an issue in terms of collision avoidance.

But the market appears limitless. One possible client group, highlighted by business website Quartz, could be those wishing to circumvent censorship in regimes such as North Korea and Afghanistan. More traditional customers would include emergency services, the military, agriculture and the cruise industry anyone seeking fast internet access where wired connections are unavailable.

Cummings, architect of the governments investment in OneWeb, is long gone from government, but with Britains space industry worth 16bn a year and 45,000 jobs, Johnson has no reason to pull back from OneWeb.

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UK takes on Elon Musk in the broadband space race - The Guardian

Tesla now offers car insurance in Texas, but its pricing model looks entirely different from its California counterpart and any other insurance plan.

That's because the premiums are solely based on Tesla's recently launched "safety score" beta, an artificial intelligence grading system that scores drivers based on five factors: forward-collision warnings, hard braking, aggressive turning, unsafe following, and forced autopilot disengagement.

At the end of each day, Tesla owners can view their daily safety score a number ranked from zero to a perfect score of 100.

Tesla CEO Elon Musk said basing insurance costs on "your actual driving history" is the "right way to do it," at the company's annual shareholder meeting last week.

Unlike traditional insurance pricing, variables such as credit, age, gender, marital status, and accident history are not included in Tesla's new insurance offering, the company website says.

"We're going to be upgrading the version in California because we want to have the same kind of real-time insurance," he said. "Hopefully, we'll probably have most of the country next year aspirationally, that's our goal."

Musk said car insurance is a "regulatory labyrinth" due to the different rules and applications required by various states.

Some Tesla drivers have documented their experience with the new scoring system on social media. One user posted incremental changes in his score, claiming that "running yellow lights" and "rolling through stop signs" helped increase his rating. Insider has not confirmed these claims.

The new insurance offering is available for Tesla Model S, Model 3, Model X, and Model Y owners in Texas. Tesla said it expects the formula to change in the future as it gains more customer and data insights.

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Tesla offers new insurance based on drivers' safety scores - Business Insider

Leonardo DiCaprio has just used his A-list magic powers again by investing in two American cultured-meat startups, Aleph Farms and Mosa Meat.

This is the same actor who invested in a vegetable protein company before the plant-based phenomenon was a thing. Beyond Meat is now worth more than $8 billion (U.S.). DiCaprio saw it coming before the rest of us.

But the idea of replacing the livestock industry with labs, using animal cells, is simply mesmerizing. Its a fascinating concept: humanity would no longer need to raise livestock to enjoy animal protein. In just a few years, we could grow meat in labs or our kitchens in small stainless-steel bioreactors.

All the problems meat-packing plants faced during the pandemic, and meat recalls, could be things of the past. The idea of slaughtering animals could be seen as ancient and barbaric.

The pandemic has turned more than four million Canadians into new pet owners and pet ownership can change how humans feel we should treat animals. Slaughtering anything will become, for a growing number of consumers, repulsive.

As of last year, its legal to sell cultured chicken in Singapore. And many other countries are considering the idea. A McKinsey and Company report recently suggested that the global cultivated meat market could reach $25 billion (U.S.) by 2030.

Forecasts also suggest the production price will drop significantly over the next nine years, from over $10,000 per pound today to about $2.50 per pound, a staggering 4,000-fold reduction.

For climate change advocates, this will be a godsend. Cattle consume about 25 calories of plant material for every calorie of edible protein they produce. Even chickens, which offer the most efficient plant-to-meat ratio, will eat nine to 10 calories of food for every calorie of edible protein produced.

Cultured meat would offer a four-to-one ratio, more than half of what chickens require. Other comparisons arent even close.

The Western world is slowly putting a price on carbon production, including Canada. So our new distribution and production economics will be the incentive for more sustainable production of animal proteins.

The science needs work, though. More than 100 research projects on cultured meat are being conducted around the world, funded by venture capitalists and philanthropists. Yet cultivated meat companies have repeatedly missed product launch deadlines.

Creating the right product is challenging for a variety of reasons.

Putting our environmental enthusiasm aside, shifting our collective attitude toward accepting cultured meat wont be easy. Food is cultural and culinary traditions have given meat a privileged role over centuries, at least in the Western world. Allowing labs to replace farms wont be a natural shift.

Most important, land occupancy will become a critical issue when converting to more lab-grown food. With fewer animals to feed, we must question how to use our farmland over time. More cultured meat in our diets may mean fewer farms and farmers, compromising our rural economys future prosperity.

Thats certainly a challenge, especially in Canada. Expect groups to push back, as weve seen with the plant-based movement.

Labelling will be another issue. The cost to produce cultured meat will eventually be lower than that of conventional meat. This could make animal proteins more affordable and if producers label them as such, consumers will have a choice.

As were seeing with genetically modified salmon in Canada (its 60 per cent cheaper to produce), consumers have no chance to see prices drop due to modern technologies. A case needs to be made for informing consumers at retail with proper labelling.

As we also saw with genetically modified salmon, grocers may publicly boycott the product but still carry it in other more processed forms. This is contemptuous and dishonest.

Cultured meat could change our relationship with animal proteins. But as with other disruptive, revolutionary technologies that assure the betterment of our planet, the change wont come easily.

Elon Musk understood a long time ago that to give the electric car its proper due and push aside the powerful car dealership cartels, the influence of the oil industry and the incredible economic clout of auto manufacturers, he needed to build a case for the e-car with the consumer.

And he did. Musk became the communicator and dreamer the electric car needed and built an entire ecosystem to support an innovative technology.

Fifteen years ago, many of us considered Musk crazy but look at Tesla today. The company is worth more than $700 billion (U.S.). Its just an incredible story.

If lab-grown food is ever to become a thing, the industry will need its own Elon Musk. That person might be Leonardo DiCaprio.

SC

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Opinion | Why the cultured meat industry needs its own version of Elon Musk - StCatharinesStandard.ca

A nonprofit group is suing Texas officials over the closing of public beaches for "SpaceX flight activities."

Save RGV said the Boca Chica beach has been closed for SpaceX launches for over 450 hours per year since 2019.

SpaceX did not respond to a request for comment, but said in August that the group's allegations were "not accurate."

Environmentalists have sued Texas officials over claims they continually closed public beaches to allow SpaceX to test out its rockets.

An environmental nonprofit group, called Save Rio Grande Valley (Save RGV), filed the lawsuit in Cameron County state court on Monday, Reuters first reported. The court document claims that the repeated closure of public beaches along the Gulf Coast violates the Texas Constitution and "Texans essential right to access Texas public beaches."

The lawsuit said that Cameron County, Texas General Land Office, and its commissioner George P. Bush have allowed the Boca Chica beach, an 8-mile stretch of land near Brownsville, to be closed for up to 450 hours per year so SpaceX can test its spacecrafts.

Save RGV said in its lawsuit that the land is part of a wildlife refuge in Cameron County and aims to prevent future closures of the land, as well as State Highway 4 - the only road that leads to the beach.

SpaceX didn't immediately respond to Insider's request for comment.

Save RGV's lawsuit said a 2013 amendment to the Texas Open Beaches Act allowed the closure of public beaches located along the Gulf Coast "for space flight activities." Since 2019, county officials have repeatedly closed-off the beach and State Highway 4 for various SpaceX launches, including its Falcon rockets, the lawsuit states.

The group also said that, per the amendment, the public was to be given at least 14 days notice before a closure went into place. But, Save RGV alleges the county often gave notice only hours before the land would be closed-off. The lawsuit alleges that there have been reports of SpaceX closing the beach on its own and extending closure hours without official county approval.

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Save RGV says the amended law violates the Texas Constitution because it restricts public access to the land and claims the SpaceX closures have negatively impacted the ability of residents who live near the beach to fully enjoy their home, as well as prevented members of the nonprofit from participating in activities that help preserve local wildlife.

"This isn't rocket science," Jim Chapman, a board member of Save RGV, said in a statement to Reuters. "The Texas Constitution is crystal clear. In Texas, access to public beaches cannot be restricted."

Save RGV has clashed with SpaceX in the past. It alerted the district attorney to the issue over the summer. At the time, SpaceX reportedly told the district attorney Save RGV's allegations were "not accurate."

Last month, the Federal Aviation Administration said it would extend a period for the public to submit comments on a draft report studying the environmental impacts of the proposed SpaceX rocket program in Boca Chica.

In August, "60 Minutes" reported it had obtained government documents showing SpaceX disrupted public access to the beach in "excess of 1,000 hours in 2019," violating its FAA permit, which only allowed the areas to be closed for 300 hours per year.

"60 Minutes" also reported that SpaceX's Starbase facility in Texas had created tension with local residents who claim the space company conducts tests with little warning - tests which have caused residents to evacuate their homes. They also alleged the tests led to brush fires and property damage.

In March, a SpaceX prototype exploded at the launch site, scattering the debris throughout the wildlife preserve.

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Environmentalists sue Texas officials, claiming the repeated closing of public beaches so that Elon Musk's SpaceX could test its rockets is...

Cathie Wood-led Ark Investment Management on Wednesday bought 102,790 shares, estimated to be worth about $814,097, in Velo3D Inc (NYSE:VLD), the 3D company that went public earlier this month via a merger with special purpose acquisition companyJaws Spitfire Acquisition Corp.

Shares of Velo3D closed 2.06% higher at $7.92 on Wednesday.

The Ark Autonomous Technology & Robotics ETF (BATS:ARKQ) bought shares in Velo3D, the 3D printer supplier for SpaceX, the space exploration company led by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk.

The Ark Space Exploration & Innovation ETF (BATS:ARKX) also ownsshares in Velo3D.

Both ARKQ and ARKX together held 4.26 million shares, worth $33.07 million, in Velo3D ahead of Wednesday's trade.

Other than SpaceX, the Benny Buller-founded Velo3D, since its production launch in 2018, has worked with Honeywell International Inc (NASDAQ:HON), Boom Supersonic, and Lam Research.

See Also: Cathie Wood's Ark Invest Sells Coinbase Shares For First Time As Stock Surges On Bitcoin Rally

Here are some of the other key trades for Ark on Wednesday:

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Cathie Wood Buys Another $800K In This Elon Musk-Led SpaceX's 3D Printing Partner - Benzinga - Benzinga

Elon Musk is the CEO and product architect of Tesla Motors and the CEO/CTO of Space Exploration Technologies (SpaceX).

At SpaceX, Musk oversees the development of rockets and spacecraft for missions to Earth orbit and ultimately to other planets. In 2008, SpaceXs Falcon 9 rocket and Dragon spacecraft won the NASA contract to provide cargo transport to space. In 2012, SpaceX became the first commercial company to dock with the International Space Station and return cargo to Earth with the Dragon.

At Tesla, Musk has overseen product development and design from the beginning, including the all-electric Tesla Roadster, Model S and Model X, and the rollout of Supercharger stations to keep the cars juiced up. (Some of the charging stations use solar energy systems from SolarCity, of which Musk is the non-executive chair.) Transitioning to a sustainable energy economy, in which electric vehicles play a pivotal role, has been one of his central interests for almost two decades. Before this, he co-founded PayPal and served as the company's chair and CEO.

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Elon Musk | Speaker | TED

American-Statesman staff| Austin American-Statesman

'SNL': Elon Musk hosts, Miley Cyrus honors Dolly Parton, her godmother

Elon Musk showed his funny side hosting "Saturday Night Live" but also caused a dip in the price of cryptocurrency Dogecoin.

USA TODAY, Wochit

Elon Musk, the billionaire leader of Tesla and SpaceX,is now the wealthiest Texas resident, according to Forbes magazine's annual rankingof the 400 richest Americans.

But whether or not Musk also happens to be the richest person living in Austin remains open for debate.

With an estimated net worth of $190.5 billion, Muskis the second-richest Americn behind Amazon founder Jeff Bezos, who is worth an estimated $201 billion, according to the new Forbes 400 rankings.

Musk last year said he had relocated from California to Texas. Thatmeans he surpasses Walmart heiress Alice Walton, who was previously the state's wealthiest person. Walton is a distant second to Musk in Texas, with an estimated net worth of $67.9 billion. Dell Technologies founder and Austin resident Michael Dell is No. 3 on the Texas list, with an estimated net worth of $50.1 billion, according to Forbes.

What is less clear is where exactly in Texas can be considered Musk's primary city of residence. Forbes lists Austin as Musk's city of residence, but the magazine did not say how it verified whether Musk is, in fact, an Austinite. Musk himself has never publicly confirmed that he lives in Austin.In fact, he said in a June social media post that his main residence is a $50,000 "tiny home" in South Texas near Boca Chica, on the site of a SpaceX campus there.

Tesla is currently building a $1.1 billion assembly facility in Travis County, and the company says it plans to livestream its annual shareholders meeting from that faciity this week.

More: Elon Musk confirms it: He has moved to Texas

More: Austin billionaire Sheth leaving Vista Equity in wake of Smith tax scandal

More: Analysts wonder: Is Dell Technologies setting stage for leadership changes?

If Musk really does live in Austin, he gives the city a total of seven billionaires among the Forbes 400. In addition to Musk and Dell, theother Austinites on the list are:

Those seven are not the only billionaires living in Austin, however.The Forbes400 is the 400 wealthiest people in the United States, but there are more than 2,600 billionaires in the country, according to the magazine.

According to Forbes, other Austin residentswho have a net worth of more than $1 billion are:

No longer making Forbes' list of billionaires is Austin resident Brian Sheth, co-founder and former president of Vista Equity Partners. Sheth, who left Vista Equity Partners last year, has an estimated net worth of $900 million, according to Forbes, down from a Forbes estimate of $2.3 billion in 2020.

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Elon Musk is now the richest Texan but is he also the richest Austin resident? - Austin American-Statesman