Musk guns for Gates’ No. 2 wealth ranking with Tesla on a tear

Elon Musk is just a Tesla stock rally away from unseating fellow mega-billionaire — and occasional verbal sparring partner — Bill Gates as the second-richest person on the planet.

As of Thursday, Musk’s net worth was $123 billion, $5 billion shy of Gates on the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people.

Bloomberg News reported that Musk’s net worth soared $10.2 billion on Wednesday after Tesla shares climbed 10% on the strength of an overweight rating by Morgan Stanley. Analyst Adam Jonas predicted in a note that the company was on the brink of transitioning from being mainly a car-retailing business to one with multiple revenue streams from products like software and services.

It was the second day of banner gains for Musk. His fortune rose $7.6 billion on Tuesday after the electric-car maker was named for inclusion in the S&P 500 Index. Tesla’s meteoric rise

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The Future Of Wealth Management Will Be Digitally Enabled But Won’t Replace Relationships

Data science and changing demographics promise to dramatically reshape the advisor-client relationship, Jason Chandler, UBS’s Head of US Wealth Management told

attendees at the Forbes-Shook Virtual Top Advisor Summit.

Zoom conferences, online portals and email blasts have become staples that advisors use to build and strengthen client relationships.

But UBS has gone a step further when it comes to leveraging technology to build client relationships, Chandler said.

UBS has partnered with a data analytics firm that offers personalized data insights into customer relationships. “We did it because we really want to understand what drives client behavior.”

UBS financial advisors may send clients a digital survey seeking feedback. The data firm’s artificial intelligence robots analyze the feedback and inform the advisor of anything from clients’ interests and needs to key life events. 

“It allows the advisor to be more proactive toward

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New analysis of gravitational-wave data leads to wealth of discoveries — ScienceDaily

An international research collaboration including Northwestern University astronomers has produced the most detailed family portrait of black holes to date, offering new clues as to how black holes form. An intense analysis of the most recent gravitational-wave data available led to the rich portrait as well as multiple tests of Einstein’s theory of general relativity. (The theory passed each test.)

The team of scientists who make up the LIGO Scientific Collaboration (LSC) and the Virgo Collaboration is now sharing the full details of its discoveries. This includes new gravitational-wave detection candidates which held up to scrutiny — a whopping total of 39, representing a variety of black holes and neutron stars — and new discoveries as a result of combining all the observations. The 39 events averaged more than one per week of observing.

The observations could be a key piece in solving the many mysteries of exactly how binary

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Ant Group IPO To Rocket Alibaba Founder Jack Ma’s Wealth

Chinese tech titan Jack Ma is set to become the world’s 11th richest person after the financial arm of his e-commerce titan Alibaba raises billions in a mammoth public listing, according to the Bloomberg News.

Ant Group said Monday it plans to raise $34 billion in a listing shared between Hong Kong and Shanghai — making it the biggest IPO in history.

The e-payments behemoth, which runs China’s dominant online payment system Alipay, plans to sell 1.67 billion shares at HK$80 ($10.30) each in Hong Kong from Tuesday.

Ant Group’s split float would exceed the $29 billion chalked up by Saudi Aramco in December, a high-profile win for a Chinese company during a period of bad headlines for mainland tech firms as Beijing and Washington face off on a number of fronts.

According to Bloomberg former English teacher Ma’s 8.8 percent stake in Ant is worth $27.4 billion based on

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Bill Gates Promised to Give Away His Wealth. Well, That Was BS

A decade ago, Bill Gates and Warren Buffett launched the Giving Pledge, which they explain as “a commitment by the world’s wealthiest individuals and families to dedicate the majority of their wealth to giving back.”

According to the official website, some 210 billionaires and mega-millionaires have made the so-called pledge. Unfortunately, many of those billionaires are giving to fake charities that enrich themselves and all of them have helped structure the economy so that they accumulate wealth faster than they can possible give it away.

Bill Gates is a case in point. When he made the pledge in 2010, his net worth was $53 billion. Ten years later, his net worth is $115 billion. Bill Gates is 64 years old, so at this rate, he’ll be worth $250 billion or more by the time he’s supposed to have given away at least half his wealth.

Same thing with Warren Buffett,

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