Showing posts with label Tesla. Show all posts
Showing posts with label Tesla. Show all posts

Billionaires added $5 trillion to their fortunes during the pandemic

Billionaires in 2022


Billionaires added $5 trillion to their fortunes during the pandemic, according to Oxfam, exacerbating economic inequality as the pandemic pushed millions of people around the world into poverty.

Using data compiled by Forbes, Oxfam says in a new report that the total wealth of billionaires jumped from $8.6 trillion in March 2020 to $13.8 trillion in November 2021, a bigger increase than in the previous 14 years combined. The world's richest 10 men saw their collective wealth more than double, shooting up by $1.3 billion a day. 
The report was released ahead of the World Economic Forum's online Davos Agenda, which will take place this week after the group's annual in-person meeting was delayed due to Omicron. Oxfam argues that governments should tax gains made by the super-rich during the pandemic and use the money to fund health care systems, pay for vaccines, fight discrimination and address the climate crisis.
“Billionaires have had a terrific pandemic. Central banks pumped trillions of dollars into financial markets to save the economy, yet much of that has ended up lining the pockets of billionaires riding a stock market boom," Gabriela Bucher, Oxfam's executive director, said in a press release.
The combined wealth of the top 10 billionaires — including Tesla (TSLA) CEO Elon Musk and Amazon (AMZN) founder Jeff Bezos — doubled during the pandemic and is now six times greater than that of the world's poorest 3.1 billion people, according to the report.
"Inequality at such pace and scale is happening by choice, not chance," Bucher said. "Not only have our economic structures made all of us less safe against this pandemic, they are actively enabling those who are already extremely rich and powerful to exploit this crisis for their own profit."
The World Bank estimates that 97 million people worldwide fell into extreme povertyin 2020 and are now living on less than $2 a day. The number of the world's poorest also rose for the first time in over 20 years.
Vaccine inequality has become a major issue as many of the world's richest countries hoard shots, buying up enough doses to vaccinate their populations several times over and failing to deliver on their promises to share them with the developing world.
Billionaires are being asked to use their wealth to help the less fortunate. 
David Beasley, director of the United Nations' World Food Programme, called on billionaires including Bezos and Musk to "step up now, on a one-time basis" to help solve world hunger in November.
    The call-out got a direct response from Musk, who later said on Twitter that if the organization could lay out "exactly how" the funding would solve the issue, he would "sell Tesla stock right now and do it."
    The CEO did not publicly respond when the UN released a plan.

    Elon’s Tesla phone might overtake Apple and Samsung

    Tesla model phone pi

    Tesla's rumoured new 'Model Pi' smartphone designed to work on Mars? Here's what we know — and don't know


    TESLA PHONE THIS 2021? It’s been widely reported that US-based EV maker Tesla will “officially” launch the Model Pi phone "later this year". It’s not clear exactly when, if at all, but the tech rumour mill is awash with Pi talk. In September, devdiscourse.com reported: “2021 did not pass by Elon Musk. Every day in search engines, people ask the same question - Is Tesla releasing a phone? Yes, we will see Elon Musk's smartphone soon.”


    In addition to a Starlink satellite connectivity, the Tesla Model Pi is also rumoured to have four cameras, solar charging and a skin that changes colour in a futuristic design.


    ANYWHERE PHONE? Rumours that Tesla is indeed making a smartphone were bolstered after the world-famous design studio ADR released concept images (in a video). This made people wonder: Is Tesla going to go after the iPhone — or simply create an entirely new market segment, such as a true-to-form satellite phone that works where traditional WiFi or 5G services are absent, and able to mine cryptocurrencies anywhere, including on the planet Mars?


    NEURALINK PHONE: The Model Pi is also rumoured to have a brain-phone interface from Neuralink. The company, controlled by Musk, is developing ultra-high bandwidth brain-machine interfaces to connect humans and computers.


    FROM BELL TO 5G: The phone has come a long way since Alexander Graham Bell patented his gear in 1876. This 2021, the total global 5G smartphone output is expected to hit about 500 million. In addition, the 5G penetration rate will swiftly climb to 37%. Market intelligence firm TrendForce states the Top 7 global phone makers in 2021 are: Samsung, Apple, Xiaomi, OPPO, Vivo, Huawei, and Transsion. Together, they will account for about 80% of the global phone market. This market, however, could be disrupted by an affordable satfone.

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