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
September 13,2024

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In a huge relief for Delhi Chief Minister Arvind Kejriwal ahead of the Haryana elections, the Supreme Court has granted him bail in the Delhi excise policy case. The AAP chief will now be released from jail, six months after his arrest by the Enforcement Directorate on March 21. He was subsequently arrested by the CBI in June.

Here are some of the Supreme Court's key quotes:

•    Perception also matters and CBI must dispel the notion of being a caged parrot and must show it is an uncaged parrot. CBI should be like Caesar's wife, above suspicion. 

•    "No impediment in arresting person already in custody. We have noted that CBI in their application recorded reasons as to why they deemed necessary. There is no violation of Section 41A (3) of Code of Criminal Procedure," said Justice Surya Kant.

•    Justice Ujjal Bhuyan, however, noted, "CBI did not feel the need to arrest him (Mr Kejriwal) even though he was interrogated in March 2023 and it was only after his ED arrest was stayed that CBI became active and sought custody of Mr Kejriwal, and thus felt no need of arrest for over 22 months. Such action by the CBI raises serious question on the timing of the arrest and such an arrest by CBI was only to frustrate the bail granted in ED case."

•    Submission of additional solicitor general cannot be accepted that appellant has to first approach trial court for grant of bail. Process of trial should not end up becoming a punishment. Belated arrest by CBI is not justified.

•    Regarding building a public narrative of a case... Arvind Kejriwal shall not make any public comments about this case and be present for all hearings before trial court unless exempted.

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News Network
September 19,2024

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Narendra Modi-led government of India has abstained in the UN General Assembly on a resolution that demanded that Israel bring an end, “without delay”, to its unlawful presence in the Occupied Palestinian Territory within 12 months.

The 193-member General Assembly adopted the resolution, with 124 nations voting in favour, 14 against and 43 abstentions, including that by India.

Those abstaining included Australia, Canada, Germany, Italy, Nepal, Ukraine and the United Kingdom.

Israel and the US were among the nations who voted against the resolution titled ‘Advisory opinion of the International Court of Justice on the legal consequences arising from Israel’s policies and practices in the Occupied Palestinian Territory, including East Jerusalem, and from the illegality of Israel’s continued presence in the Occupied Palestinian Territory’.

The resolution adopted Wednesday demanded that “Israel brings to an end without delay its unlawful presence in the Occupied Palestinian Territory, which constitutes a wrongful act of a continuing character entailing its international responsibility, and do so no later than 12 months from the adoption of the present resolution.” 

The Palestinian-drafted resolution also strongly deplored the continued and total disregard and breaches by the Government of Israel of its obligations under the Charter of the United Nations, international law and the relevant United Nations resolutions, and stressed that such breaches seriously threaten regional and international peace and security.

It recognised that Israel must be held to account for any violations of international law in the Occupied Palestinian Territory, including any violations of international humanitarian law and international human rights law, and that it “must bear the legal consequences of all its internationally wrongful acts, including by making reparation for the injury, including any damage, caused by such acts.”

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News Network
September 9,2024

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Mangaluru: The Unicode Consortium has announced the inclusion of Tulu script in its latest version, Unicode 16. This update adds 80 characters to the Unicode Standard, marking a significant milestone for the Tulu-speaking community.

According to officials, the journey to this achievement began in 2001 when a member of the Unicode Consortium helped fix the Kannada script in Unicode and simultaneously advocated for the inclusion of Tulu.

Despite initial misunderstandings with the Tulu Academy in Mangaluru, the groundwork was laid for future developments. Initially, three Tulu experts had worked on the subject, including S A Krishnaiah, a Tulu scholar.

"In 2014, efforts to create a Tulu Wikipedia gained momentum, leading to its launch on August 6, 2016. By 2017, the Tulu Academy recognised the need for Tulu Unicode, forming a committee to finalise the characters with technical guidance. Concurrently, another proposal for the Tilari script was submitted," Krishnaiah said.

After extensive correspondence, the script was officially added to Unicode under the name Tulu-Tigalari. While there are minor differences between the Tulu Academy's list and the finalised Unicode version, most characters have been included. Notably, Tulu digits and some diacritic marks necessary for writing Sanskrit in Tulu script were added, he said.

According to him, the inclusion of the Tulu script in Unicode will have a significant positive impact on digital communication for Tulu speakers, including enhanced digital presence. Tulu speakers can now use their native script across various digital platforms, including social media, websites, and messaging apps, fostering a stronger online presence.

The availability of Tulu in Unicode will facilitate the creation of educational materials, such as textbooks and online courses, in the Tulu script, supporting language learning and literacy, he said.

The development of Unicode-encoded fonts, keyboard software, and converters will streamline the use of Tulu in digital communication, making it easier for users to type and share information in their native script, he said.

Being part of the Unicode Standard gives Tulu global recognition, encouraging more software and application developers to support the script, thereby increasing its usability and visibility, the Tulu scholar said.

Overall, this will empower Tulu speakers to communicate more effectively and confidently in their language, both locally and globally.

It is estimated that over 1.8 million people worldwide speak Tulu. Most Tulu speakers live in the coastal areas of Karnataka and Kerala, India, in regions known as Tulu Nadu. There are also Tulu speakers in the Gulf countries and the United States, he said.

Tulu is a Dravidian language and is related to Kannada, the official language of Karnataka. Tulu has a rich oral tradition, but there isn't much written in the language. Tulu's script is similar to Malayalam and originated from the Grantha script.

A long-drawn fight is ongoing to include Tulu in the Eighth Schedule of the Constitution. The Dravidian University at Kuppam in Andhra Pradesh has a special Tulu chair, he added.

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