Tech billionaire Elon Musk’s fortune approaches $ 100 billion despite pandemic Propelled by his actions in Tesla according to Forbes

Tech billionaire Elon Musk is getting closer and closer to $ 100 billion (nearly half of Jeff Bezos’ fortune estimated at $ 199.3 billion by the same barometer), according to the Real-Time Index Billionaires from Forbes, which places it in fifth position worldwide, while the shares of electric car maker Tesla Inc see their value multiplied by five this year. Much of his wealth comes from the 21% stake in Tesla, according to Forbes. Tesla’s shares, which went public at $ 17 a unit in 2010, rose 3.5% on Friday, August 28, to a record high of $ 2,318.49. Elon Musk therefore approaches the elite whose fortune in billions of dollars can be counted in hundreds.

Note that in January, Tesla had already broken a record crossing for the first time the $ 500 per share. This unexpected growth in Tesla’s share value, analysts say, is due to a number of factors including the company achieving a net profit of $ 143 million in the third quarter, delivering stronger than expected deliveries in the fourth quarter and has opened a new Gigafactory Shanghai in China for the production of its Y compact sport utility vehicle. These combined actions would therefore have given investors much more confidence in Tesla.

Between June and September 2019, Tesla delivered 97,000 electric vehicles to its customers. It was a new record for the 10-year-old manufacturer and excellent performance for its Model 3 sedan, with approximately 6,000 cars per week found new homes during the quarter. Tesla announces third quarter 2019 profit of $ 143 million. Other figures for the third quarter of 2019 show that, at the end of September, the company had $ 5.3 billion in cash and cash equivalents and $ 371 million in operating cash.

For comparison, Tesla lost $ 408 million in the second quarter of 2019, after even larger losses in the first quarter of 2019. In an investor presentation, Tesla said this new profitability was possible at the cost of cost suppression. substantial for our business. Although average selling prices have declined (consumers are buying many more variants of the cheaper Model 3 and much less of the Model 3 or Model S or X), Tesla said its automotive gross margin is now 22.8 %. It is therefore higher than it was previously during the same year.

En dbut d’anne, Tesla sets market capitalization record ; Tesla’s market capitalization (about $ 91.8 billion in January 2020) was greater than the sum of the market values ​​of General Motors ($ 49.9 billion in January) and Ford ($ 36.6 billion in January ). The company could boast of being the most important vehicle manufacturer of all time in the United States as it broke the record of $ 80.81 billion set by Ford Motor Co. in 1999.

Elon Musk also founded SpaceX, the first private company to be entrusted by NASA with the launch of the fuse manufactured by him. In June, SpaceX launched the first private space flight and suit. Bob Behnken and Doug Hurley, two American astronauts joined the ISS, the International Space Station, almost 20 hours after the successful takeoff from Kennedy Space Center in Florida.

Bob Behnken and Doug Hurley became the first astronauts to launch into space on a private jet, but they also became the first pilot a spaceship using only touch screen controls.

This launch can be considered so historic for the United States. Indeed, the accident of the space shuttle Columbia in 2003, which results in the death of its crew, calls into question the use of the American space shuttle. In 2004 the American space agency, NASA, decided to stop its flights in 2010. It was therefore obliged to develop means of transport to resume the missions assumed until then by the shuttle: the refueling of the space station in consumables (food, water, oxygen, fuel), the transport of spare parts for the internal or external structures of the station, the sending of scientific experiments to install inside and outside the station, the return of spare parts and results of experiences on Earth as well as the relief of crews.

SpaceX began its flight software development with a combination of VxWorks for the mainframe and Linux to run the communications gateways, but continued to use highly customized Linux throughout after familiarizing itself with the real-time progress of fixes. Linux scheduler and kernel. The reasons for choosing Linux included the availability of source code and therefore programmability, its stability at the enterprise level, the availability of real-time software patches, and its large user community.

SpaceX uses Linux on their main flight computers for the Dragon spacecraft and the Falcon 9 launcher, as well as for their test vehicles, such as the Grasshopper. Their version of Linux is based on the 3.2 kernel with real-time fixes. Only the features necessary for the SpaceX implementation have been transported from the original kernel – only about 10-15% of the original code. SpaceX also made its own mission-specific changes to the kernel, and custom pilots have also been added. The kernel has been carefully evaluated, especially focusing on the performance of the scheduler

Elon Musk also co-founded Neuralink in 2016, a neurotechnology startup whose goal is to develop electronic components that can be integrated into the brain, for example to increase memory, better control terminals, help cure neurological diseases such as Alzheimer’s, dementia as well as lesions of the spinal cord and possibly to better combine the brain and artificial intelligence.

An implantable device can actually solve these problems, Musk said in a webcast Friday in which he presented the latest advances in his connected brain project, mentioning conditions such as memory loss, hearing loss, depression and insomnia.

The company provided a demo of the technology. Musk said the purpose of this presentation was recruiting and not fundraising or any other kind of promotion: We are not trying to fundraise or do anything else, but the primary focus is to convince great people to come and work at Neuralink and help us bring the product to maturity – make it affordable and reliable, and make it possible for anyone who wants to benefit from it, he said.

Musk presented what he described as the three little pigs demo . Of the three pigs, one (a sow christened Joyce) had no implant, a second (a sow christened Gertrude) had an implant (which Musk called the Link) for two months already, and a third (a sow christened Dorothy) had an implant. implant which was subsequently removed (to show that the operation was reversible).

The prototype was connected to the snout of the animal. Musk showed a notch that played a sound and showed a visual spike whenever the Link detected that Gertrude was in contact with something with her snout as she walked around the pen and sniffed the ground for food.

Musk closed this part of the presentation by noting that the company is getting ready for the first human implantation soon, pending required approvals and further safety testing.

The Forbes Real-Time Billionaire Rankings track the daily highs and lows of the world’s richest people. The Wealth Tracking Platform provides ongoing updates on the net worth and ranking of every individual confirmed by Forbes as a billionaire. The value of public holdings of individuals is updated every 5 minutes when the respective stock markets are open (with a 15-minute delay for stock prices). People whose fortunes are heavily tied to private businesses will see their net worth updated once a day.

Source : Forbes

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