Top Ten Wealthiest Men in the World Doubled Their Wealth During the Pandemic

A recent report claims that the world’s top 10 richest men all saw their wealth double over the course of the Coronavirus pandemic, while 99 percent of global income dropped dramatically during the same period.

As reported by ABC News, a study published on Monday by the group Oxfam showed that the collective wealth of the top 10 doubled from approximately $700 billion to over $1.5 trillion between March of 2020 and November of 2021. During that same time, over 160 million people fell into poverty as incomes plummeted. The increase for the top 10 in less than two years represented a greater increase for their wealth than their growth over the previous 14 years combined.

The 10 men who were the focus of Oxfam’s study were: Elon Musk, Jeff Bezos, Bernard Arnault, Bill Gates, Larry Ellison, Larry Page, Sergey Brin, Mark Zuckerberg, Steve Ballmer and Warren Buffett. The data for the study was gathered from the World Bank.

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JP Morgan Sues Tesla, Says Company Owes It $162 Million

Investment bank JP Morgan filed a complaint against Tesla late Monday alleging the electric car company owes the firm over $162 million.

The complaint centers on stock warrants, financial instruments allowing a buyer to purchase shares at a set price within a certain length of time, that JP Morgan bought from Tesla in 2014. The two firms agreed to a “strike price” at the time of purchase, and they agreed that if Tesla’s share price exceeded the strike price within the agreed-upon length of time, the electric car company would have to give JP Morgan stock or cash equivalent to the difference in prices, JP Morgan said in the complaint.

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Elon Musk’s Tesla to Move Headquarters from California to Texas

Tesla CEO Elon Musk announced on Thursday that the company will be moving its headquarters out of California and into Texas, according to CNN.

“I’m excited to announce that we’re moving our headquarters to Austin, Texas,” Musk announced to a shareholders’ meeting on Thursday. The company, which specializes in electric vehicles, had been based out of California since its foundation in San Carlos, with its first factory built in Fremont and its current headquarters located in Palo Alto.

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Employees Criticize Jeff Bezos’ Blue Origin for Being ‘Mostly Male and Overwhelmingly White’

Jeff Bezos

A letter written by current and former employees of Jeff Bezos’ rocket company Blue Origin took aim at the company’s workplace culture.

The letter, posted on website Lioness and written by former Head of Blue Origin Employee Communications Alexandra Abrams along with 20 unnamed current and former employees, criticized the company’s culture and work environment as “stuck in a toxic past.”

“One-hundred percent of the senior technical and program leaders are men,” the employees wrote, bashing the Blue Origin workforce for being “mostly male and overwhelmingly white.”

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The Billionaire Space Race: A Competition Between the World’s Richest Men Is Resurrecting an Industry

Jeff Bezos became the second billionaire to successfully reach outer space this month when his Blue Origin New Shepard spacecraft exited the atmosphere Tuesday, the latest development in the ongoing space race between Bezos, SpaceX’s Elon Musk, and Virgin Galactic’s Richard Branson.

Branson was the first billionaire in space last week when he and several crew members aboard his VSS Unity spaceplane successfully flew to an altitude of 53.5 miles. His company Virgin Galactic, founded in 2004, is developing commercial spacecraft to be used in suborbital flights for those seeking a trip to outer space. Musk’s SpaceX, founded in 2002, has been at the forefront of the private space industry for over a decade, with Musk planning a mission to Mars as early as 2024.

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West Virginia Site Chosen for High-Speed Hyperloop Travel Facility

Virgin Hyperloop One will build a certification center in West Virginia for the high-speed transportation concept that uses enclosed pods to zip passengers underground at over 600 mph (960 km/h).

The company had received bids from more than a dozen states in the past year to build a 6-mile (9.7-kilometer) testing track and other safety facilities over hundreds of acres for the electromagnetic levitation transportation technology.

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Elon Musk ‘Certain’ Tesla Will Be Producing Self-Driving Cars By Year’s End

by Chris White   Tesla CEO Elon Musk predicted Tuesday that the electric vehicle automaker will begin producing purely self-driving cars by the end of 2019. The mercurial tech guru has made similar predictions in the past. Musk argued in 2015 that his company would complete a self-driving feature within…

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Is One Labor Union Killing the Ohio Lordstown Plant?

An ongoing feud between one labor union and an automaker may cost thousands of jobs in Lordstown, Ohio. The Lordstown Assembly Complex in Lordstown, Ohio has been the lifeblood of that town since 1966. Currently, the factory is owned and operated by General Motors, while the workforce is represented by the United Automobile…

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Outgoing Governor John Kasich Asks Tesla CEO Elon Musk to Save Lordstown Auto Plant by Tweet

Thursday, December 20th, Tesla CEO, Elon Musk, gave his first public response to Governor John Kasich’s multiple attempts to reach him in the hope of saving the Lordstown Assembly complex in Warren, Ohio. On November 26th, General Motors announced that the 6.2 million square foot auto manufacturing facility, along with…

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Elon Musk Says it’s ‘Possible’ Tesla Would Buy Ohio’s General Motors Plant

Elon Musk

Tesla CEO Elon Musk expressed interest in purchasing the five General Motors facilities that are set to close in 2019, including one in Lordstown. In a teaser for his upcoming interview with 60 Minutes, Musk was asked if he would “want to buy some of those plants.” “It’s possible that…

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Elon Musk Takes the Deal – Agrees To Step Down From Tesla As Chairman In SEC Settlement

Elon Musk

by Chris White   Billionaire tech guru Elon Musk agreed to step down as the chairman of Tesla after the Securities and Exchange Commission sued the electric vehicle company for fraud, according to court documents published Saturday. Musk, who owns roughly 20 percent of the company, also agreed to pay…

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Maverick Musk Eyes $72 Billion Buyout to Take Tesla ‘Private’

Elon Musk

Tesla CEO Elon Musk is considering leading a buyout of the electric car maker in a stunning move that would end the maverick company’s eight-year history trading on the stock market. In his typically unorthodox fashion, the eccentric Musk dropped his bombshell on his Twitter account, which he has used…

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