Elon Musk, Bill Gates, Jeff Bezos (who is stepping down as Amazon CEO)

[samhexum]

When Musk passed Gates for 2nd richest:

( https://nypost.com/2020/11/24/elon-musk-passes-bill-gates-as-worlds-second-richest-person/ )

 

Does this mean his mother can stop doing those Cover-Girl commercials?

Edited February 2, 2021 by samhexum

[Rod Hagen]

Having nothing to do with her age (BTW nobody thinks 71 is old anymore) and everything to do with her makeup: she looks like a deranged elf.

[samhexum]

Elon Musk passes Bill Gates on rich list, but still lags in philanthropy

 

Elon Musk may only be the world’s second-richest man, but he arguably holds the title for world’s cheapest.

The Tesla chief has given away a paltry portion of his $128 billion fortune compared to more philanthropic billionaires like Microsoft co-founder Bill Gates.

 

Musk, 49, has donated roughly $100 million to charitable causes over the course of his career, amounting to less than 1 percent of his net worth, according to a Forbes estimate. That includes $25 million that he’s given to various nonprofits since 2002 through his eponymous foundation.

 

Among the recipients of the Musk Foundation’s money are the University of Pennsylvania — Musk’s alma mater — and Big Green, a charity run by his brother Kimbal that sets up gardens at schools, Forbes says.

 

The South African-born entrepreneur has also made large gifts to organizations such as the Sierra Club and the Future of Life Institute, which aims to keep artificial intelligence “beneficial to humanity.”

 

But Musk has a long way to go to catch up with Gates, who along with his wife, Melinda, has given out around $50 billion over the past quarter-century, according to the Chronicle of Philanthropy.

 

The couple donated more than $5.5 billion to charity from 2017 to 2019 alone, most of which went to their namesake foundation, the outlet says. The Bill and Melinda Gates Foundation has helped the software tycoon give away 10 to 20 percent of his wealth overall, Forbes estimates.

 

The Gateses also joined forces with investment titan Warren Buffett to launch the Giving Pledge, an initiative encouraging the world’s wealthiest people to give away more than half their fortunes during their lifetime or in their will. Buffett is also a regular donor to the Gates Foundation.

 

Facebook CEO Mark Zuckerberg, whom Musk recently leapfrogged in the wealth rankings, is also a signatory of the Giving Pledge and had the San Francisco General Hospital named after him after donating $75 million to its foundation in 2015. He also helms Chan Zuckerberg Initiative along with his wife, Priscilla — and over the summer donated $30 million to fight the coronavirus pandemic.

 

Musk’s entrance into the upper echelon of the world’s wealthiest people is a recent phenomenon driven by an explosion in Tesla’s stock price this year. If you take away the automaker’s eye-popping 2020 gains, Musk would be left with a roughly $30 billion fortune that he says is not liquid. Gates, meanwhile, has been among the world’s richest men since the 1990s.

 

“People think I have a lot of cash. I actually don’t,” Musk testified in a Los Angeles courtroom in December 2019, noting that most of his fortune is tied up in shares of Tesla and his rocket company, SpaceX. He also said he has debt against his stock holdings.

 

The Tesla CEO has said that all of his earthly business ventures are just a way to fund his true passion: colonizing Mars.

“If there’s something terrible that happens on Earth, either made by humans or natural, we want to have, like, life insurance for life as a whole,” he said at a Mars conference this summer.

 

Musk has, however, set lofty philanthropic goals for himself despite his limited giving so far. He’s among more than 200 individuals who have signed on to the Giving Pledge, and he tweeted in 2018 that he would sell about $100 million worth of Tesla stock for charity “every few years.”

 

Musk has also tried to use his companies’ technology for good causes, such as when Tesla reportedly sent some of its Powerwall battery packs to provide electricity in Puerto Rico after Hurricane Maria.

 

SpaceX also infamously built a miniature submarine in a bid to rescue a group of soccer players who became trapped in a Thai cave in 2018 — an effort that landed Musk in court. The submarine was never used.

 

Vernon Unsworth, a British diver who was involved in the operation, criticized the sub as a “PR stunt,” which prompted Musk to call him a “pedo guy” on Twitter. Unsworth sued Musk for defamation over the tweet, but a jury ruled in Musk’s favor when the case went to trial last year.

[Guest]

Elon Musk passes Bill Gates on rich list, but still lags in philanthropy

 

Elon Musk may only be the world’s second-richest man, but he arguably holds the title for world’s cheapest.

The Tesla chief has given away a paltry portion of his $128 billion fortune compared to more philanthropic billionaires like Microsoft co-founder Bill Gates.

 

Musk, 49, has donated roughly $100 million to charitable causes over the course of his career, amounting to less than 1 percent of his net worth, according to a Forbes estimate. That includes $25 million that he’s given to various nonprofits since 2002 through his eponymous foundation.

 

Among the recipients of the Musk Foundation’s money are the University of Pennsylvania — Musk’s alma mater — and Big Green, a charity run by his brother Kimbal that sets up gardens at schools, Forbes says.

 

The South African-born entrepreneur has also made large gifts to organizations such as the Sierra Club and the Future of Life Institute, which aims to keep artificial intelligence “beneficial to humanity.”

 

But Musk has a long way to go to catch up with Gates, who along with his wife, Melinda, has given out around $50 billion over the past quarter-century, according to the Chronicle of Philanthropy.

 

The couple donated more than $5.5 billion to charity from 2017 to 2019 alone, most of which went to their namesake foundation, the outlet says. The Bill and Melinda Gates Foundation has helped the software tycoon give away 10 to 20 percent of his wealth overall, Forbes estimates.

 

The Gateses also joined forces with investment titan Warren Buffett to launch the Giving Pledge, an initiative encouraging the world’s wealthiest people to give away more than half their fortunes during their lifetime or in their will. Buffett is also a regular donor to the Gates Foundation.

 

Facebook CEO Mark Zuckerberg, whom Musk recently leapfrogged in the wealth rankings, is also a signatory of the Giving Pledge and had the San Francisco General Hospital named after him after donating $75 million to its foundation in 2015. He also helms Chan Zuckerberg Initiative along with his wife, Priscilla — and over the summer donated $30 million to fight the coronavirus pandemic.

 

Musk’s entrance into the upper echelon of the world’s wealthiest people is a recent phenomenon driven by an explosion in Tesla’s stock price this year. If you take away the automaker’s eye-popping 2020 gains, Musk would be left with a roughly $30 billion fortune that he says is not liquid. Gates, meanwhile, has been among the world’s richest men since the 1990s.

 

“People think I have a lot of cash. I actually don’t,” Musk testified in a Los Angeles courtroom in December 2019, noting that most of his fortune is tied up in shares of Tesla and his rocket company, SpaceX. He also said he has debt against his stock holdings.

 

The Tesla CEO has said that all of his earthly business ventures are just a way to fund his true passion: colonizing Mars.

“If there’s something terrible that happens on Earth, either made by humans or natural, we want to have, like, life insurance for life as a whole,” he said at a Mars conference this summer.

 

Musk has, however, set lofty philanthropic goals for himself despite his limited giving so far. He’s among more than 200 individuals who have signed on to the Giving Pledge, and he tweeted in 2018 that he would sell about $100 million worth of Tesla stock for charity “every few years.”

 

Musk has also tried to use his companies’ technology for good causes, such as when Tesla reportedly sent some of its Powerwall battery packs to provide electricity in Puerto Rico after Hurricane Maria.

 

SpaceX also infamously built a miniature submarine in a bid to rescue a group of soccer players who became trapped in a Thai cave in 2018 — an effort that landed Musk in court. The submarine was never used.

 

Vernon Unsworth, a British diver who was involved in the operation, criticized the sub as a “PR stunt,” which prompted Musk to call him a “pedo guy” on Twitter. Unsworth sued Musk for defamation over the tweet, but a jury ruled in Musk’s favor when the case went to trial last year.

A friend once mocked me for finishing third in my age group in a cycling race. Suggesting I wasn’t good enough.

 

Of course, while I was finishing 3rd, his lard ass was on the sofa watching golf.

 

I imagine while you’re counting what others are giving with cynicism, you have set an example for the rest of us to follow.

 

As to Musk, you do understand that just a year ago, his Tesla shares were worth about a sixth of what they are now, don’t you?

[samhexum]

you do understand that just a year ago, his Tesla shares were worth about a sixth of what they are now, don’t you?

 

So he was only worth around $20 billion? Why didn't he tell me? -- I'd have hosted a telethon for him... or maybe bought some Cover-Girl makeup in honor of his mom.

[Guest]

So he was only worth around $20 billion? Why didn't he tell me? -- I'd have hosted a telethon for him... or maybe bought some Cover-Girl makeup in honor of his mom.

Hmmm, you’re still making it about him

[samhexum]

Elon Musk’s fortune has now surpassed the $150 billion mark.

 

The Tesla and SpaceX CEO, already the world’s second-richest man, reached the milestone Monday after Tesla shares surged more than 5 percent to a new, all-time high.

 

The electric automaker’s stock has been on a tear since mid-November when the S&P 500 index announced that it would include Tesla in December. Shares of Tesla are up 54 percent since Nov. 16.

 

With his $151.1 billion net worth, Elon Musk is now more than $20 billion ahead of No. 3 Bill Gates, who has a $129 billion fortune, and $45 billion ahead of Facebook CEO Mark Zuckerberg, who Musk originally passed the day after the S&P’s announcement.

 

After adding more than $120 billion to his net worth in 2020 alone, Musk now plays second fiddle only to Jeff Bezos, who is the richest man on earth with a net worth pegged at $185 billion.

 

Musk’s Tesla 170.4 million Tesla shares are worth more than $108 billion, with the rest of his fortune coming from additional Tesla options as well as his holdings in rocket company SpaceX and drilling company Boring, according to data from Bloomberg.

 

The upward trajectory could continue ahead of Tesla’s Dec. 21 debut in the benchmark index because big investment funds that duplicate the S&P’s holdings must buy Tesla shares to accurately track its performance.

 

Shares of Tesla were trading up 59 percent Monday afternoon, at $634.24.

[jjkrkwood]

But is he HAPPY ?

 

[samhexum]

[+ sniper]

If he tried to get cash for those shares tomorrow he'd get a fraction of that total. Once you're into the billions and your assets are company stock, there's a large error bar around your net worth estimate. Note he has likely borrowed extensively against those shares via margin accounts(one of the ways the rich get richer, avoiding taxes while alive then bumping up the stock basis upon death when they pass it on to their heirs.)

[Blade9]

Elon Musk passes Bill Gates on rich list, but still lags in philanthropy

 

Elon Musk may only be the world’s second-richest man, but he arguably holds the title for world’s cheapest.

The Tesla chief has given away a paltry portion of his $128 billion fortune compared to more philanthropic billionaires like Microsoft co-founder Bill Gates.

 

Musk, 49, has donated roughly $100 million to charitable causes over the course of his career, amounting to less than 1 percent of his net worth, according to a Forbes estimate. That includes $25 million that he’s given to various nonprofits since 2002 through his eponymous foundation.

 

Among the recipients of the Musk Foundation’s money are the University of Pennsylvania — Musk’s alma mater — and Big Green, a charity run by his brother Kimbal that sets up gardens at schools, Forbes says.

 

The South African-born entrepreneur has also made large gifts to organizations such as the Sierra Club and the Future of Life Institute, which aims to keep artificial intelligence “beneficial to humanity.”

 

But Musk has a long way to go to catch up with Gates, who along with his wife, Melinda, has given out around $50 billion over the past quarter-century, according to the Chronicle of Philanthropy.

 

The couple donated more than $5.5 billion to charity from 2017 to 2019 alone, most of which went to their namesake foundation, the outlet says. The Bill and Melinda Gates Foundation has helped the software tycoon give away 10 to 20 percent of his wealth overall, Forbes estimates.

 

The Gateses also joined forces with investment titan Warren Buffett to launch the Giving Pledge, an initiative encouraging the world’s wealthiest people to give away more than half their fortunes during their lifetime or in their will. Buffett is also a regular donor to the Gates Foundation.

 

Facebook CEO Mark Zuckerberg, whom Musk recently leapfrogged in the wealth rankings, is also a signatory of the Giving Pledge and had the San Francisco General Hospital named after him after donating $75 million to its foundation in 2015. He also helms Chan Zuckerberg Initiative along with his wife, Priscilla — and over the summer donated $30 million to fight the coronavirus pandemic.

 

Musk’s entrance into the upper echelon of the world’s wealthiest people is a recent phenomenon driven by an explosion in Tesla’s stock price this year. If you take away the automaker’s eye-popping 2020 gains, Musk would be left with a roughly $30 billion fortune that he says is not liquid. Gates, meanwhile, has been among the world’s richest men since the 1990s.

 

“People think I have a lot of cash. I actually don’t,” Musk testified in a Los Angeles courtroom in December 2019, noting that most of his fortune is tied up in shares of Tesla and his rocket company, SpaceX. He also said he has debt against his stock holdings.

 

The Tesla CEO has said that all of his earthly business ventures are just a way to fund his true passion: colonizing Mars.

“If there’s something terrible that happens on Earth, either made by humans or natural, we want to have, like, life insurance for life as a whole,” he said at a Mars conference this summer.

 

Musk has, however, set lofty philanthropic goals for himself despite his limited giving so far. He’s among more than 200 individuals who have signed on to the Giving Pledge, and he tweeted in 2018 that he would sell about $100 million worth of Tesla stock for charity “every few years.”

 

Musk has also tried to use his companies’ technology for good causes, such as when Tesla reportedly sent some of its Powerwall battery packs to provide electricity in Puerto Rico after Hurricane Maria.

 

SpaceX also infamously built a miniature submarine in a bid to rescue a group of soccer players who became trapped in a Thai cave in 2018 — an effort that landed Musk in court. The submarine was never used.

 

Vernon Unsworth, a British diver who was involved in the operation, criticized the sub as a “PR stunt,” which prompted Musk to call him a “pedo guy” on Twitter. Unsworth sued Musk for defamation over the tweet, but a jury ruled in Musk’s favor when the case went to trial last year.

 

 

Wow. Gotta ask, what publication is this article lifted from?

[samhexum]

Wow. Gotta ask, what publication is this article lifted from?

https://nypost.com/2020/11/24/elon-musk-still-lags-bill-gates-in-philanthropy/

 

Jeff Bezos stepping down as Amazon CEO

 

Jeff Bezos is stepping down as CEO of the e-commerce company he founded 27 years ago, he announced in a stunning new letter to employees on Tuesday.

 

The 2nd richest man in the world said the switch will take place in the third quarter of 2021 when Amazon Web Services CEO, Andy Jassy, will take the reigns. Bezos, 57, will then become executive chair of Amazon’s board, the letter states.

 

“I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have,” Bezos said. “He will be an outstanding leader, and he has my full confidence.”

 

The announcement comes just 90 minutes before Amazon reports what is expected to be a blowout holiday quarter earning report.

 

“As much as I still tap dance into the office, I’m excited about this transition,” Bezos said, adding that he will focus on “the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”

[orville]

They never fully step down. These are just PR stunts to project a less evil image while still commanding behind the curtains.

At least he admits he'll be Chairman of the Board.

 

Also, when a Company reaches that size, it's a huge "monster" with its own life and synergy that doesn't need the brightest CEO.

But it's true that Amazon has new projects as now they entered in direct competition against (collaboration with?) SpaceX for NASA contracts

 

https://www.businessinsider.com/jeff-bezos-blue-origin-nasa-contract-missions-new-glenn-2020-12