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Added on the 19/02/2018 15:51:08 - Copyright : Wochit
Susan Walsh/AP; Erin Scott/Reuters There's no love lost between Elon Musk and Mark Zuckerberg. The billionaire tech CEOs — who helm Tesla and SpaceX, and Facebook, respectively — have been feuding since at least 2016, when a SpaceX rocket explosion destroyed a Facebook satellite. Since then, they've butted heads over everything from artificial intelligence to Facebook's data-collection practices. Most recently, Musk tied Facebook to the violent insurrection in Washington, DC, describing it as a "domino effect." Visit Business Insider's homepage for more stories.
Europe's first Hyperloop facility was unveiled in Delft on Thursday and aims to cut down the commute between European capitals to a matter of minutes. Hyperloop creators teamed up with Dutch organisation Hardt, the Technical University of Delft, and construction company BAM for the project. The consortium hope that Hyperloop will soon shoot passengers at breakneck speeds in driverless pods through low-pressure tubes throughout the continent. First tests are to be launched in the end of 2017 with the first hyperloop line to be up and running by 2019.
Billionaire investor Chamath Palihapitiya told CNBC Tesla's stock could be worth three times more than its current valuation. According to Business Insider that would make CEO Elon Musk the first trillionaire in history. Palihapitiya's comments come as Tesla shares shot up 6.9%. Elon Musk surpassed Jeff Bezos as the richest person on the planet on Thursday. Palihapitiya said Tesla is a "distributed energy business." He's believed for a while that the world's first trillionaire will be a person who is fighting climate change. Palihapitiya said "Don't sell a share" of Tesla, he told investors.
On Monday, Tesla stock climbed as much as 5%. Business Insider reports that Tesla's market capitalization is north of $700 billion. Elon Musk's company exceeded its production target of 500,000 vehicles last year. The company has fallen just short of 500,000 deliveries. "So proud of the Tesla team for achieving this major milestone!" Musk tweeted about the news. Tesla's stock price soared by more than 740% in 2020.
Tesla and SpaceX CEO Elon Musk has sold three adjacent houses in the Bel-Air neighborhood. The Los Angeles homes sold for a combined $40.9 million, reports Business Insider. The largest home is a six-bedroom, seven-bathroom mansion that sits on 1.5 acres of land. It reportedly sold for $29.72 million. The Bel-Air homes are among several pieces of property Musk has sold off in 2020. Musk is now pledging that he will "own no house" and is moving to Texas.
Pool/Getty Images Perhaps nobody had a better year, financially speaking, than Tesla and SpaceX CEO Elon Musk. The billionaire saw his wealth more than quintuple during a pandemic that's left hundreds of thousands dead and many more out of work. Yet the magnate takes a very small salary, instead relying on massive stakes in his companies to accumulate wealth. With Tesla's stunning performance this year, it's no surprise that those equity values have also swelled. Visit Business Insider's homepage for more stories.
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