Science & Tech

World’s richest man Elon Musk earned $6.35 billion on Monday

SOUTH African-born billionaire, Elon Musk, who is currently the world’s richest person according to Bloomberg’s Billionaires Index, gained $6.35 billion in New York trading on Monday, valuing him at $192 billion.

As a result of Tesla’s prices rising 3.83%, the billionaire posted record gains on Monday. Market value for the world’s most valuable car company is $707 billion at present

On some optimism that governments around the world are likely to encourage the adoption of electric vehicles, global investors have piled into shares of the Palo Alto, California-based company focused on manufacturing electric sedans and SUVs.

A machine learning product tagged as a humanoid robot provides a game-changing breakthrough for the world’s most valuable automobile manufacturer.

An artificial intelligence day was recently held by the executives at the electric vehicle company. In addition to showcasing AI progress, the event aimed to recruit new engineers. Data collection, retraining, model reconditioning, and redeployment are all believed to create the virtuous cycle of earning more for Tesla.

However, as the chip crisis hits car manufacturers around the world, downside risks remain. Tesla is experiencing a shortage of semiconductors due to a real shortage that Musk addressed recently.

The scarcity of semiconductors has led car manufacturers like Daimler to frequently send workers on short-term contracts. “Today, no car can possibly function without electronics.” Musk said. – Online

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