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Investment firm predicts Elon Musk to be the first-ever trillionaire

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Elon Musk named Time magazine's 'Person of the Year'

$1,000,000,000,000. 

If we put it into $100 bills, it would weigh 2.2 billion pounds or 13-and-a-half Washington Monuments. It’s enough to give every woman, man and child on the planet $126.58 (with a couple hundred million spare change). 

It’s also the estimated net worth of the world’s richest man, Elon Musk, should his Space X venture take off, so to speak. 

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That’s according to experts at investment firm Morgan Stanley, who believe that the company’s potential to take regular passengers into space will make it the most valuable company in the world – and Musk by far the richest person the planet has ever seen.

Already the world’s richest man

Let’s not forget that Elon Musk is unbelievably wealthy. Jeff Bezos, the magnate behind Amazon, has been one of the chief beneficiaries of the global shift online – a shift that has encompassed everything from social media to online casinos – but Musk hasn’t even needed to rely on this to rocket past him.

His Tesla range – a fleet of high-tech electric cars – has performed better than ever over the last few years. Their latest earnings report showed a nearly 13% jump in stock, with more than 16 million new stock options. Tesla’s market cap surpassed $1 trillion, with Musk owning a stake. 

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That, along with smaller business ventures, has helped propel him to a current worth of $271.3 billion, making Musk the richest person in history, and around 33% richer than Bezos, his closest rival. 

This, however, is a mere fraction of what he could be worth thanks to his unique SpaceX company. 

‘The Google of Space’

Back in 2002, as NASA was receiving praise for launching Aqua, their latest Earth Observation Spacecraft (EOS), Elon Musk was thinking of more than observing. He was talking colonization. 

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His SpaceX company, originally called Mars Oasis, tried to buy old rockets from Russia, but couldn’t agree a price. Undeterred, Musk and his growing team of specialists decided to build their own rockets instead. By 2008, their first rocket, Falcon 1, achieved a full orbit around Planet Earth. It was its fourth attempt, but it became the first liquid-fuelled craft to do so. 

Also Read: Alexander Djerassi Best Entrepreneurs Guides

The next decade saw several further achievements culminating in them being the first private company to send humans into orbit, and the International Space Station in the process, in May 2020. 

Its latest mission – the first-ever orbital launch of an all-private crew in September – sent the company value soaring to an estimated $100 billion. Morgan Stanley analyst Adam Jonas said it may become the ‘most highly valued company in the world – in any industry. He said its capacity to employ reusable rockets to take people and cargo on regular missions to the moon and Mars had the potential to make it the ‘Google of space’. 

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What could SpaceX – and Tesla – be worth?

The unique selling point of SpaceX is its versatility. As well as space travel, it will also be the pioneer of many other related industries, including space infrastructure, Earth observation and deep-space exploration. Jonas predicted that it will soon double in value to $200 billion, but this could just be the start. 

If Tesla is currently worth $1 trillion, then it seems logical to assume that SpaceX could also reach that total should regular space travel become a reality. Musk’s 54% stake would land him over half a trillion dollars if that happens. 

And that’s not to mention Tesla’s growth. Forbes recently predicted a doubling in value of the world’s number 1 EV company, for several reasons. 

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First, Tesla rentals could become widespread, which will open up the market to people who can’t afford to buy one. Second, the company is expanding quickly into China, opening a factory in Shanghai and receiving a popular response from consumers there. Finally, Panasonic is about to announce a new battery for Tesla vehicles, one that is both more powerful and more efficient than previous versions. 

Also, let’s not forget Musk’s power to drive market values with a single tweet. His announcements, often outrageous, have caused Tesla stock – and some cryptocurrencies – to soar in the past. 

If SpaceX and Tesla both reach their full potential, then Elon Musk’s current worth will seem like loose change – to him anyway. 

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Also Read: Predictions about when cryptos and blockchain explode

Musk’s ‘modest’ lifestyle

So, what does someone with a third of a trillion dollars do with their wealth? Well, Elon Musk has declared that he will live a modest lifestyle. 

In spring 2020, he promised to give away most of his physical possessions, including six Californian mansions. Instead, he chooses to live in a small ‘foldable prefabricated rental house’ in Texas, the home of SpaceX’s Starships. 

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However, some media sources have dismissed this as a publicity stunt, designed to take the spotlight away from the South African entrepreneur’s extraordinary wealth. Instead of extreme downsizing, they say, maybe he should pay his correct share of taxes.

However, Musk chooses to spend his money, there’s one thing we know for sure, to have a trillionaire living among us is something that most people would have thought impossible just a few years ago.

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Passionate news enthusiast with a flair for words. Our Editorial Team author brings you the latest updates, in-depth analysis, and engaging stories. Stay informed with their well-researched articles.

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Former Russian Spy Aliia Roza Breaks Silence on Her Life as a Seduction Agent in New Podcast

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Aliia Roza, an Ex-Russian spy claims to work for the Russian government 

Aliia Roza, an ex-spy and Russian agent, recently made global headlines when she broke her silence about her role as a seduction agent for the Russian Federal Security Service (FSB) during a new podcast, “To Die For.”

Aliia Roza is the first Russian to publicly discuss training as a “seduction agent” in the Russian spy service.

In her latest podcast, she talks about the training methods and missions targeting her.

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She stated,

“It’s been over two decades that I’ve stayed silent. But for several reasons, I couldn’t keep my silence. I couldn’t live with this pain anymore, even though I’ve been through all this trauma. … If it wasn’t me [speaking out], then who would speak out?”

Aliia Roza, an Ex-Russian spy talks about her life in a podcast 

Aliia Roza further added that she had to flee Moscow with her son, hoping for a better life away from spy culture.

“The biggest achievement of my life is becoming a parent. I wanted to experience that. I wanted to create a family. I wanted to have kids. And I was not allowed to do that. And then I realized, ‘Wait a minute. I live only one life. I don’t want to spend my life sacrificing for something I don’t believe in anymore.’ That was the moment when I looked for possibilities to escape,”

she explained.

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Born to a Kazakh-Tatar family, her father was a high-ranking military officer in the Soviet Union. Because of this, she was part of a special government program for children of high-ranking officers.

Initially, she wanted to pursue a career in fashion design, but her father, who worked as a high-ranking officer for 45 years, said she had no other choice but to attend the special government program.

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Important Ripple V. SEC Lawsuit Update: Parties Cross Swords Over A Key Witness Testimony

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The legal wrangling between Ripple and the US Securities and Exchange Commission (SEC) is becoming increasingly acrimonious. Despite the crypto sector eagerly awaiting an outcome, the case grows more complicated with each passing day.

In a recent move, the SEC filed its opposition to Ripple’s motion to strike new expert materials, including a testimony known as the ‘Fox Declaration,’ which Ripple claimed represents unsolicited expert opinion.

However, the SEC countered this argument, stating that it was a common process akin to standard summary evidence in support of calculations for disgorgement.

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The SEC insisted, ‘It’s not an expert report, does not rely on specialized experience, and does not render any opinions at all, let alone an “expert” one. Nor does it present the testimony of a percipient witness. Rather, it applies basic arithmetic to Ripple’s financial records to streamline the presentation of evidence to Judge Torres… The court should deny Ripple’s motion.’

The SEC also said that the ‘Fox Declaration’ consists of information derived from Ripple’s own documents, including tax returns and financial statements, which can be useful for determining the case’s outcome. The SEC also reminded that this very argument was already struck down by Federal Judge Torres earlier.

XRP Lawsuit: Whales Shift 74M XRP Amid Approaching SEC Deadline, What’s Next?

Just before the SEC’s deadline in the Ripple lawsuit, there was significant whale activity, with transactions affecting over 74 million XRP, leading to increased speculation about the motive behind this move. However, XRP prices have taken a hit, more due to a global crypto market sell-off and significant whale movements. Later in the day, the SEC is expected to file its reply in the Ripple case.

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It was an eventful day, with major crypto assets facing the heat and values tanking. XRP prices have dropped by 4%, but major whale activity involving significant transfers of XRP, totaling $15.92 million to Bitstamp by unidentified whales, has experts talking and wondering about the real motive behind this action. Coupled with the uncertainties around the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), the future of the crypto sector hangs in balance with the final result of this legal wrangling.

Also Read: Philips Settles for $1.1 Billion Over Sleep Apnea Device Recall Linked to Cancer Risks

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Philips Settles for $1.1 Billion Over Sleep Apnea Device Recall Linked to Cancer Risks

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Dutch conglomerate Philips has concluded a $1.1 billion deal to resolve claims in the United States related to the recall of more than 1 million breathing machines. These devices, also known as sleep apnea devices, were recalled in 2021 due to concerns that they posed a potential cancer risk.

Philips had recalled millions of its CPAP machines from the market after concerns arose that components used in the device, especially the foam, could enter the airways and potentially cause cancer. The recall occurred in 2021, and further sales of the devices were halted. The money from the deal will cover injury claims for 58,000 people, earmarking $1.075 billion for a personal injury settlement and $25 million for medical monitoring.

Lawyers representing the plaintiffs stated,

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“Ultimately, these combined agreements accomplish what we sought to achieve when this litigation began — holding Philips accountable by obtaining care for those with physical injuries and compensation for those needing new respiratory devices.”

CPAP machines, an acronym for continuous positive airway pressure machines, are used to treat sleep apnea, a serious sleep disorder where a person’s breathing is obstructed during sleep. This can be caused by the throat muscles obstructing the airways, brain disorders, or unknown causes. CPAP machines help restore the air supply via a mask and keep the airways open.

An estimated 33 million Americans use CPAP machines to treat the symptoms of sleep apnea, according to figures released by the National Council on Aging. Untreated sleep apnea can lead to several complications, including higher risks of developing diabetes, hypertension, and heart diseases.

Some customers alleged that Philips’ DreamStation machines, which were then the brand leader, had been expelling gas and bits of foam into their lungs. Philips made no admission of fault in its products and stated that most of the claims were related to “alleged technical malfunctions” that did not involve any serious injury or death. However, Chief Executive Roy Jakobs said in a statement on Monday that the company is genuinely concerned with any discomfort the patients may have experienced.

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Philips is facing a number of litigations in the US and is effectively out of the sleep machines and ventilators market, with its presence limited to selling replacement parts and servicing the machines that already exist in hospitals and patients’ homes. Earlier this year, Philips agreed to a decree requiring it to halt the sale of its devices in the US until certain conditions are met. It also agreed to repair and replace the more than 1 million breathing machines currently used by patients in the US.

What can consumers do?

The settlement, which must be approved by a judge, entitles users to a $100 award if they return their recalled device by August 9, 2024 — the claim deadline. Users who believe their device is defective should act soon to verify this if they haven’t already, and Philips’ recall page offers ways to check serial numbers and register a product. A dedicated website is available which accepts claims for the financial-loss settlement. Payments tied to the settlement are expected to be completed by 2025.

The news has been welcomed in the share markets, and Royal Philips NV shares soared nearly 30 percent in Amsterdam since the settlement amount is much less than what was expected.

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Also Read: Gerber and Perrigo Face New Lawsuit Over ‘Store-Brand’ Infant Formula Pricing; All Pending Toxic Baby Food Cases Consolidated into New Class Action MDL

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