Elon Musk’s SpaceX Intends To Become A Texas Corporation
February 15, 2024 / By Zunair Tahir / Tech News
SpaceX has submitted a request to switch the company’s registration state from Delaware to Texas. It follows the annulment of Musk’s enormous Tesla compensation package, which shareholders claimed was exorbitant, by a Delaware court decision.
Elon Musk Spacex
SpaceX, Elon Musk’s private space enterprise, has applied to move its incorporation from Delaware to the US state of Texas.
“SpaceX has shifted from Delaware to Texas as its state of incorporation! Musk replied, “I suggest relocating your firm as quickly as feasible to another state if it is still established in Delaware.
SpaceX has moved its state of incorporation from Delaware to Texas!
If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible. pic.twitter.com/B7FLByL2dY
It’s Musk’s most recent action after a Delaware court decision in January that halted Musk’s historic Tesla compensation package.
The compensation, which included options valued at over $56 billion (€52 billion), was deemed excessive by shareholders.
Musk asked if Tesla should relocate its registration to Texas, where it now has its headquarters, in a poll that was posted on X earlier this month.
“The people have clearly voted in favor of Texas! After the vote, Musk stated, “Tesla will move quickly to hold a shareholder vote to transfer state of incorporation to Texas.”
Due to the state’s advantageous tax and legal environment, Delaware has historically been home to some of the largest companies in the nation. Musk has expressed his great desire for these companies to relocate.
Another one of Musk’s businesses, Neuralink, likewise moved its incorporation state from Delaware to Nevada last week.
However, Musk seemed to be leaving Delaware even before the decision. Following his 2022 acquisition of Twitter (now X), Musk moved the company’s incorporation from Delaware to Nevada. Twitter was another US corporation established in Delaware, even though the majority of its facilities are in California.
French Billionaire Takes The Top Spot In The World’s Richest Person List View His Net Worth
February 2, 2024 / By Zunair Tahir / World News
The CEO of Tesla, Elon Musk, has been surpassed in wealth by French billionaire Bernard Arnault, who also serves as chairman and CEO of Louis Vuitton.
The French billionaire Bernard Arnault has surpassed Elon Musk to become the richest person in the world.
On Friday, January 20,24, Arnault made over $20 billion (KSh 3.2 trillion) and defeated Musk, who according to Forbes is currently valued at $204 billion (KSh 32.7 trillion).
Aliko Dangote, a Nigerian, increased his net worth to $22 billion (KSh 3.5 trillion) in January by earning over $6 billion (KSh 963 billion).
Arnault and his family’s net wealth increased by $23.6 billion on Friday, January 26, 2023, to $207 billion (KSh 33.2 trillion), according to data from Forbes’ Real-Time Billionaires list. Elon Musk’s net worth was $204 billion (Ksh 32.7 trillion) at the time this article was published.
The event comes after LVMH’s shares rose by more than 12% at the end of trading on Friday, January 26, 2024, as a result of the company’s robust sales.
Louis Vuitton and Sephora are just two of the 75 fashion and cosmetics businesses under the control of 74-year-old Anault’s LVMH empire.
In 2021, the French billionaire paid $16 billion (KSh 2.6 trillion) for the luxury brand, which at the time was thought to be the largest acquisition in history.
Elon Musk, however, continues to lead the Bloomberg Billionaire Index in terms of wealth, followed by Jeff Bezos, the founder of Amazon.
Based on the available statistics, the CEO of Tesla has lost more than $30 billion since 2024, which has helped to close the gap with Bezos.
Aliko Dangote, the richest man in Africa and Nigeria, on the other hand, has increased his net worth to $22 billion by earning over $6 billion.
Since June of last year, when Nigeria started its Forex reforms, Dangote has recovered the majority of his losses.
Dangote’s estimated net worth at the start of January 2024 was $15 billion.
For a short while, Johann Rupert of South Africa overtook him as the richest man in Africa. The richest man in Africa, Aliko Dangote, has witnessed the fastest gain in net worth in years, reaching $22 billion.
Dangote made nearly $1 billion (KSh 160 billion) on Tuesday, January 23, 2024, and $282 million on Wednesday, January 24, 2024, according to data from the Bloomberg Billionaire Index.
At the Nigeria Exchange Limited, Dangote Cement’s share price kept up its upward trend.
Unveiled is the first humanoid artificial intelligence CEO robot in the world to oversee a business.
Mika, the robot, will be the face of the corporation and is meant to make strategic judgments.
Mika’s hiring adds more weight to Elon Musk’s recent concerns about artificial intelligence.
Dictador, a rum brand from Colombia, has named a humanoid AI robot named Mika as its new CEO.
This is the first time a robot will have a seat on the board of the corporation and decide on strategic matters.
What you should know about job descriptions and robot CEOs
Hanson Robotics created Mika, and Dictador customized him to embody the brand and its principles.
She is taught to be objective and strategic, and she can make data-driven judgments fast and precisely. According to BusinessDay. Mika will oversee Dictador’s Arthouse Spirits DAO project and communications in her role as a board member.
Elon Musk Solution
AI With Elon Musk
Mika’s selection to CEO once more prompts a number of concerns over the direction of corporate employment and leadership.
CNN reported that Elon Musk called artificial intelligence “one of the most disruptive forces in history” at a meeting with British Prime Minister Rishi Sunak.
Musk revealed a number of forecasts about AI, such as the idea that AI friendship would be the ultimate form of relationship and that there won’t be a need for work in the future.
His Words:
“AI will be a force for good most likely. But the probability of it going bad is not zero percent.”
“A referee is a good thing. I agree with the vast majority of existing regulations. ”
When Was Elon Musk’s AI Startup Unveiled?
According to a state business document, Musk, who now serves as the CEO of X and Tesla, was named as a director of X.AI Corporation, which was established on March 9.
Nevada is the US state where the artificial intelligence company X.AI is headquartered.
Musk recently advocated for a general halt to the advancement of artificial intelligence, but he also founded OpenAI, which seems to be a competition to ChatGPT.
As part of an AI initiative at Twitter, he employed technical expertise and purchased thousands of expensive and potent processing chips, according to an Insider article.
Elon Musk Restricts Temporary Reading Limit On Twitter
July 3, 2023 / By Zunair Tahir / Tech News
Elon Musk, the chief executive of Twitter, has imposed temporary restrictions on the social media site in an effort to combat widespread data scraping and system manipulation.
Verified accounts are temporarily limited to reading 6,000 posts per day, according to Musk, who made the revelation on his Twitter page on Saturday.
The unverified accounts and new unverified accounts are restricted to reading 600 posts per day and 300 posts per day, respectively.
“We’ve applied the following temporary limits, to address extreme levels of data scraping & system manipulation,” he stated.
The Daily Reading Limit For Verified Users Is 6,000 Posts
600 Daily Postings From Unverified Accounts
300 new unverified accounts are created per day, according to Musk’s tweet on Saturday, hours after the social media network had a global outage.
His explanation came as the social media network had a significant global outage that affected millions of users and stopped thousands of users from accessing it.
More than 7,000 users reported problems with Twitter, according to the outage tracking website “Down Detector.”
The Largest Electric Vehicle Manufacturing Facility In The World Will Be The New Tesla Factory In Mexico
March 20, 2023 / By Zunair Tahir / Automotive News
Arrival Of Tesla In México
Tesla Mexico Giga Factory
A new factory will be constructed in Santa Catarina, in the Mexican state of Nuevo León’s northern region, according to Tesla creator Elon Musk.
Investment Of $5 billion
Mexican President, Andrés Manuel López Obrador
President Andrés Manuel López Obrador of Mexico and state governor Samuel Garca hailed the news and reaffirmed that water usage, a contentious aspect of the project, won’t be a problem thanks to a $5 billion investment.
One Of The World’s Biggest Factories
Ministry of Foreign Affairs
The Tesla facility in Mexico will be the biggest electric car manufacturing in the world, according to Martha Delgado, Undersecretary for the Ministry of Foreign Affairs (pictured with Musk).
Greater Than Twice As Large As Mexico City’s International Airport
Mexico City’s international airport
According to Santa Catarina’s mayor, Jesus Nava, the property is nearly 4,200 acres in area, more than double the size of Mexico City’s international airport, and Tesla is buying it from private landowners.
An Ideal Location
Elon Musk
The technology tycoon stated that the site of his new plant will provide a strategic link because it borders the United States and is three hours away from Texas, where another Tesla plant is situated, in an effort to grow its operations.
Tesla Production Outside Of The US
Tesla Production Outside Of The US
The Mexican factory will be a part of the brand’s growth, so it will be a complement to the rest of its factories, which are situated in the United States, China, and Europe, according to comments made by Musk himself.
Newest Models Of Vehicles (And Cheaper)
Latest generation cars (and cheaper)
It was announced during Investor Day 2023 that the new Tesla plant will be in charge of manufacturing Tesla’s upcoming models. One of them is the purportedly innovative ‘economic’ strategy to contend for a more competitive market.
“Welcome Tesla”
“Welcome Tesla”
“The world’s wealthiest man chose Nuevo León, Mexico, for both his new gigafactory and his cutting-edge car. The outlook is positive “the Nuevo León mayor tweeted.
Tesla Mexican Plant Controversies
The first debates over the factory emerged at the same time as the first reports, as it was the Mexican president who suggested that the plant be located in another state due to Nuevo León’s shortage of water.
Will Elon Find A Solution To The Issue?
Elon Musk Solution
Musk did, however, reportedly make several recommendations to the Mexican administration to address the water issue. The Mexican president then formally revealed the factory’s building after 14 months of talks.
Addressing The Issue Of Water Shortage
Obrador stated, “The plant will be built in Nuevo León, with a number of promises to address the issue of water shortage.
A Strategy To Protect The Water
A Strategy To Protect The Water
Although specifics regarding these tactics were withheld, local media reported that a water preservation plan sticks out among the conditions agreed upon for the building of said plant.
Another Potential Undertaking
A Possible Second Project
However, given the significant lithium deposits the nation possesses and that Obrador pledged to nationalize in order to prevent outsiders from exploitation, the potential of marketing lithium as a raw material for the production of batteries for said electric vehicles was also brought up.
Mexico’s Natural Resources
Said Obrador Mexico Natural Resources
During his recent visit to the state of Sonora, Obrador declared that lithium “belongs to the country” and that he would nationalise such natural resources “so that they cannot be utilised by outsiders, neither by Russia, nor by China, nor by the United States”.
Reached A Consensus
Reached A Consensus
Obrador said, “Lithium belongs to the Mexicans, but if the raw material is purchased, if the battery plants are placed in Sonora, if you offer Sonorans employment, to the Mexicans, an agreement is made” during his morning program following the confirmation of the new Tesla factory.
The Process Of Making Batteries
The Process Of Making Batteries
The production of batteries for electric vehicles is currently being implemented, but how exactly is unclear. It is an expenditure that will likely be made in the future as natural resources are traded for capital and technology.
Leading Producer Of Automobiles Is Mexico
Leading Producer Of Automobiles Is Mexico
According to José Zozaya, head of the Mexican Association of the Automotive Industry, “Mexico confirms its leading position in the production and sale of cars to the globe” with the entry of Tesla.
6,000–10,000 Additional Jobs
6,000–10,000 Additional Jobs
As of right now, neither Tesla nor Elon Musk have provided numbers indicating how many employment the largest electric vehicle factory will create. Government officials promised, however, that it is anticipated that 6,000 to 10,000 employment will be created.
Possibilities For Santa Catarina
Possibilities For Santa Catarina
An economic effect that would originally and specifically impact Santa Catarina, which as of the National Institute of Statistics and Geography’s 2020 census has a population of over 300,000, (INEGI).
Ford, General Motors, BMW
In addition to Tesla, other industry juggernauts like BMW, General Motors, or Ford have opened eight plants in Mexico to manufacture electric cars.
Prior To Colombia And Brazil
El Pas reports that Mexico has surpassed Brazil and Colombia as the region’s champion in the marketing of electric vehicles, with the United States serving as its primary export market.
Elon Musk Intends To Eliminate 50% Of Twitter Workers
November 3, 2022 / By Zunair Tahir / Tech News
In an effort to reduce expenses, Elon Musk intends to eliminate 3,700 employees at Twitter Inc., or half of the company’s employment, according to a report published on Wednesday by Bloomberg News, which cited people familiar with the situation.
According to Bloomberg, Musk plans to overturn the social media company’s current “work from anywhere” policy and mandate that staff work from the office, with some possible exceptions.
In an effort to reduce expenses, Elon Musk intends to eliminate 3,700 employees at Twitter Inc., or half of the company’s employment, according to a report published on Wednesday by Bloomberg News, which cited people familiar with the situation.
The impacted employees will be informed on Friday by Twitter’s new owner.
According to Bloomberg, Musk plans to overturn the social media company’s current “work from anywhere” policy and mandate that staff work from the office, with some possible exceptions.
According To Elon Musk Twitter Will Change How It Verify Their Users
October 31, 2022 / By Zunair Tahir / Tech News
Just days after taking control of one of the most significant social media platforms in the world, Elon Musk said in a tweet on Sunday that Twitter will change its user verification procedure.
Musk stated in a tweet that “the whole authentication procedure is now being redesigned” without providing any other information.
According to two persons with knowledge of the situation, technology publication Platformer revealed on Sunday that Twitter is thinking about charging for the coveted blue check mark confirming the identity of the account user.
If the initiative is approved, users would have to pay $4.99 per month for Twitter Blue in order to keep their “verified” badges.
Although the project may still be shelved since the CEO of Tesla Inc. has not made a final decision, Platformer predicts that verification will most likely be included in Twitter Blue.
@sriramk any chance in helping with verification? Denied some 4-5 times despite large following and working to share spaceflight/rocket launches to the masses via my photography. Published in a plethora of huge outlets but Twitter doesn’t seem to care! https://t.co/efL1l1H2d9
Separately, according to internal letters they obtained, The Verge claimed on Sunday that Twitter will raise the monthly membership fee for Twitter Blue, which also validates users, from $4.99 to $19.99.
As the platform’s first subscription service, Twitter Blue was introduced in June of last year. For a monthly membership fee, it provides “exclusive access to premium features,” including the ability to edit tweets.
After Musk asked his tens of millions of Twitter followers whether they wanted an edit button in April, the option to edit tweets was also made accessible earlier this month. The yes response rate was above 70%.
According to a separate Sunday Verge post citing staff members with knowledge of the situation, Musk has also asked that logged-out users accessing Twitter’s website be diverted to the Explore tab, which displays trending tweets.
Musk Prepared To Acquire Twitter For The Original Price
October 5, 2022 / By Zunair Tahir / Tech News
WASHINGTON: Two persons familiar with the situation said on Tuesday that billionaire Elon Musk wants to proceed with his initial $44 billion bid to take Twitter Inc. private, bringing an end to the contentious legal dispute that was ready to go to trial.
The settlement puts the richest person in the world in command of one of the most powerful media outlets and puts an end to months of contentious litigation that hurt Twitter’s reputation and fueled Musk’s reputation for acting erratically.
Musk, the CEO of electric vehicle manufacturer Tesla Inc., will take over a firm he first committed to purchasing in April but quickly changed his mind about.
Before trading was again suspended, Twitter shares increased 12.7 percent to $47.93, while Tesla shares increased by around 1%.
According to an earlier story from Bloomberg, Musk proposed the idea in a letter to Twitter.
The information comes ahead of a highly anticipated courtroom confrontation between Musk and Twitter on October 17, when the social media firm was expected to ask the judge to require Musk to consummate the acquisition at $54.20 per share.
Musk agreed to purchase Twitter in April for $44 billion, or $54.20 per share, but claimed shortly after that a considerably greater percentage of accounts were bots than Twitter’s estimate of fewer than 5% of users.
Bots are automated accounts, and their usage may cause overestimations of the number of real users, which is crucial for determining advertising prices and the service’s overall worth.
The world’s most expensive business deal has been finalized, with Elon Musk, head of US company Tesla and private space company SpaceX, agreeing to buy microblogging site Twitter for about ً 44 billion.
According to the agreement, Elon Musk will pay 54.20 Dollar per share in cash to buy Twitter.
According to reports, Elon Musk has become the sole shareholder of Twitter after the agreement. This is by far the largest bargain to be made by any private company in the world.
According to the British news agency Reuters, Elon Musk and Twitter reached a 44 billion deal on Monday, after which control of the social media platform will now be transferred to the richest man in the world.Elon Musk had offered to pay 54.20 per share for the microblogging site, signaling his intention to buy Twitter.
Under pressure, Twitter later began negotiations with Elon Musk to sell the company at a proposed price of 54.20 Dollar per share, and the deal was finalized on Monday. According to reports, after this news, the shares of Twitter have increased by about 6%.
Tesla, a company famous for making electric vehicles, has delivered about 1 million electric vehicles in 2021.
AFP news agency quoted a company statement as saying that the number of vehicles delivered in 2021 is almost double the number of vehicles delivered in 2020. And the Company is also going up in the value and crossing all companies that are making Electric cars.
Tesla, a company famous for making electric vehicles, has delivered about 1 million electric vehicles in 2021.A statement issued on Sunday added that the results have been good despite global supply challenges. It should be noted that this American company, which manufactures electric vehicles, had delivered more than 936,000 vehicles in 2021.
That’s 87% more than the number of vehicles delivered in 2020, according to the company. In January last year, Tesla management announced that the company intends to increase vehicle deliveries by 50% year on year in the coming years, and the results reported on Sunday are well ahead of this target.
In the fourth quarter of last year, Tesla delivered 308,600 vehicles.
People rent cars at a Hertz car rental counter in the Miami International Airport on October 25, 2021 in Miami, Florida. Hertz announced that it ordered 100,000 Teslas as the company is emerging from bankruptcy.
The company has managed to tackle the global problem of scarcity of resources facing the auto industry. Elon Musk, head of Tesla, said he had partially solved the semiconductor shortage by modifying the newly designed chip and software.
However, Tesla was once again profitable in October when it received an order for 100,000 electric vehicles from Hertz, a car rental company, to be completed by 2022. With this announcement, Tesla has entered the list of the few companies worth more than one trillion dollars in the stock market.
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