Tesla CEO Elon Musk beats Mark Zuckerberg to become world's third richest person

News Network
September 1, 2020

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Elon Musk is now the third-richest person in the world.

Musk passed Facebook Inc. co-founder Mark Zuckerberg Monday as shares of Tesla Inc. continued their unrelenting rally after undergoing a forward stock split. Musk is now worth $115.4 billion compared with $110.8 billion for Zuckerberg, according to the Bloomberg Billionaires Index.

Also Monday, Jeff Bezos’s ex-wife MacKenzie Scott became the world’s richest woman, passing L’Oreal SA heiress Francoise Bettencourt Meyers. Scott, 50, who received a 4% stake in Amazon.com Inc. as part of her divorce from founder Bezos, is now worth $66.4 billion.

Musk, 49, has seen a meteoric rise in his wealth, with his net worth growing by $87.8 billion this year as Tesla shares surged almost 500%. Also helpful: an audacious pay package -- the largest corporate pay deal ever struck between a chief executive officer and a board of directors -- that could yield him more than $50 billion if all goals are met.

Tesla, a favorite among amateur investors on online trading firm Robinhood Financial, has been one of the largest beneficiaries of the boom in retail investing during pandemic lockdowns. At one point last month, almost 40,000 Robinhood accounts added Tesla shares during a single four-hour span. And the trend isn’t limited to the US: South Korean retail investors have piled into Tesla this year and hold about a 1% stake in the American auto maker.

Tesla’s $464 billion market value now exceeds that of retail behemoth Walmart Inc., the largest company in the US by revenue.

Last week, Musk joined Zuckerberg, Bezos and Microsoft Corp. co-founder Bill Gates in the rarefied centibillionaire club as tech stocks rose.

The heady pace of wealth accumulation in recent months is in stark contrast to the state of the global economy. Growth has slumped sharply since the pandemic began with companies laying off millions of workers and consumer demand cratering. The brunt of economic pain has been borne by young and lower-wage workers, whose jobs are typically more vulnerable to Covid-related layoffs.

The rising income inequality has provoked sharp responses from many progressive politicians and critics on the left. US Senator Bernie Sanders this month introduced legislation to tax “extreme wealth gains” during the pandemic.

Musk still has a long way to become the world’s richest person. Bezos is worth more than $200 billion.

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News Network
November 3,2024

Mangaluru: Deputy Chief Minister D K Shivakumar emphasized the urgent need for local job creation and a dedicated tourism policy to address communal tensions and rejuvenate the Dakshina Kannada region. 

He spoke during "Ashoka Jan-Mana," a clothing distribution event organized by Rai Estates Educational and Charitable Trust, under the leadership of MLA Ashok Rai, at Kombettu’s taluk stadium in Puttur on Saturday.

“There are challenges to communal harmony across the coastal and interior regions of Dakshina Kannada. To counter these issues, we must provide opportunities for our youth," Shivakumar stated. "The government is considering a specialized tourism policy for the coastal areas to attract more visitors and retain local talent."

Shivakumar expressed concern about a rising trend among local youth to migrate to Saudi Arabia, Mumbai, and Bengaluru due to limited job opportunities in the area. "Communal disturbances have also discouraged students from other districts from enrolling in our institutions, and several banks that originated here have closed down," he said.

Highlighting the region's potential, Shivakumar remarked, “Dakshina Kannada is home to many temples and boasts a rich coastline. Yet, despite Mangaluru having a major port, we still lack five-star hotels. Developing tourism here will be essential for creating jobs and fostering harmony.”

He also hinted at development projects proposed by Ashok Rai for Puttur, which are currently under wraps due to by-election restrictions. Assuring commitment, Shivakumar said, “Although we secured only two seats in Dakshina Kannada, we are committed to developing all constituencies in the region.”

The Deputy Chief Minister concluded with a powerful message on leadership, likening Ashok Rai to a modern embodiment of ancient virtues. “For success, one should have Dharmaraya's righteousness, Karna's generosity, Arjuna's focus, Vidura's ethics, Bhima's strength, and Krishna's strategy. Ashok Rai has all these qualities," he said, praising Rai’s dedication to the people of Dakshina Kannada.

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News Network
November 15,2024

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Iran’s Islamic Revolution Guards Corps (IRGC) has killed or captured 69 terrorists linked to the Israeli spy agency Mossad during a major counterterrorism drill in the country's southeast, its spokesman says.  

General Ahmad Shafaei, the spokesman for the “Martyrs of Security” drill, said Friday that a total of 23 terrorists have been killed and another 46 arrested in various clean-up operations ever since the IRGC Ground Force launched it in the Sistan and Baluchestan province on November 1.

Seven terrorists have also turned themselves in during the period.

“The undeniable fact about terrorists is that they rely on arrogant powers, particularly the intelligence service of the wicked and vicious Zionist regime," Shafaei said.

“Unfortunately, weapons and munitions at terrorists’ disposal are among the most sophisticated ones in the world. This accounts for their heavy dependence.” 

The official stated that several members of the disbanded terror teams were non-Iranian nationals, who had been hired by foreign intelligence agencies to carry out acts of sabotage and terror inside Iran.

In a most recent operation, six terrorists were arrested and four others were eliminated, three of whom were non-Iranians, he added. 

On October 26, ten members of Iran's law enforcement forces were killed in a terrorist attack in the Gohar Kuh district of Taftan in the Sistan and Baluchestan province.

The so-called Jaish al-Adl terrorist group claimed responsibility for the assault, which was one of the deadliest in the province in recent months.

The group has carried out numerous terrorist attacks in Iran, primarily in Sistan and Baluchestan.

Its tactics include the abduction of border guards as well as targeting civilians and police stations within the province to incite chaos and disorder.

In January, Iran launched a military operation during which the headquarters of the Pakistan-based terrorist group was targeted in missile strikes, destroying its infrastructure.

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coastaldigest.com news network
November 5,2024

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Several videos have been circulating across social media platforms, claiming that football superstar Cristiano Ronaldo is shown reading the Quran in a mosque. Several posts have gone further to claim that Ronaldo and his wife have converted to Islam. The videos have attracted millions of views and sparked widespread speculation. 

Is Ronaldo Reciting the Quran?

One such video shows a man reading from the Quran, with captions like "Cristiano Ronaldo Reciting Quran." Several posts, especially on TikTok and Facebook, claim that Ronaldo has not only read the Quran but has also embraced Islam along with his wife, Georgina Rodríguez. One of these TikTok posts amassed 1.7 million likes and over 58,000 shares, adding to the viral momentum of this claim.

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Ronaldo Lookalike from Iraq

Contrary to these claims, the man in the video is not Cristiano Ronaldo. The individual is Bewar Abdullah, a well-known Ronaldo lookalike originally from Iraq, who now resides in Birmingham, U.K. Abdullah has gained fame for his striking resemblance to Ronaldo and regularly posts content online imitating the footballer.

The Reality

The viral video was initially posted by Bewar Abdullah on his TikTok account (@bewarabdullah) on July 20, 2021, with the caption "Eat Mubarek🕌 (sic)." Abdullah has a large following of 1.7 million people.

Abdullah is frequently mistaken for Ronaldo due to his resemblance, and his name appears at the end of the viral video, confirming his identity.

Abdullah’s online popularity stems from his likeness to Ronaldo, and he regularly receives invitations to events and appearances due to this.

Apart from the video, there are also widespread claims that Ronaldo and his wife have converted to Islam. However, there is no credible evidence to support this. These rumors appear to have emerged from the same viral content surrounding Ronaldo’s lookalike, without any basis in fact.

Why the Confusion?

The confusion arises from Abdullah’s close resemblance to Ronaldo and the viral nature of social media posts that often mislead viewers. The presence of Ronaldo-related hashtags and captions like "#Ronaldo #CristianoRonaldo #CR7 #SaudiArabia" further fueled the speculation, making it seem more believable to the football star's global fanbase.

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