Elon Musk dethrones French multi-billionaire, reclaims his position as the world’s richest man – Newstrends
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Elon Musk dethrones French multi-billionaire, reclaims his position as the world’s richest man

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Elon Musk, the Chief Executive Officer of Twitter

Elon Musk dethrones French multi-billionaire, reclaims his position as the world’s richest man

Elon Musk has reclaimed his position as the world’s richest person after dethroning French multi-billionaire Bernard Arnault from the top spot.

According to a Bloomberg Billionaires tally, Elon Musk net worth is now about $192 billion, compared to LVMH (LVMHF) CEO Bernard Arnault’s $187 billion.

The Twitter chief surpassed the French luxury brand tycoon on Wednesday after shares of Mr Arnault’s LVMH fell 2.6 per cent in Paris trading.

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The two centibillionaires, a term used to refer to people with fortunes of more than $100 billion, have been neck-and-neck for the top spot for months.

Mr Arnault runs the world’s largest luxury brands conglomerate that includes companies such as Louis Vuitton, Tiffany, Celine and Tag Heuer.

Here is the current list:

  • Elon Musk: $192b
  • Bernard Arnault: $187b
  • Jeff Bezos: $144b
  • Bill Gates: $125b
  • Larry Ellison: $118b
  • Steve Ballmer: $114b
  • Warren Buffet: $112b
  •  Larry Page: $111b
  • Sergey Brin: $106b
  • Mark Zuckerberg: $96.5b
  • Carlos Slim: $89.4b
  • Francoise Bettencourt Meyers: $85.5b
  • Mukesh Ambani: $84.7b
  • Amancio Ortega: $67.8b
  • Jim Walton: $67.2b
  • Rob Walton: $65.5b
  • Alice Walton: $64.4b
  • Zhong Shanshan: $61.5b
  • Gautam Adani: $61.3b
  • John Mars: $60.6b

Elon Musk dethrones French multi-billionaire, reclaims his position as the world’s richest man

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BREAKING: US airlines grounded, UK banks, others affected after global IT outage

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BREAKING: US airlines grounded, UK banks, others affected after global IT outage

A significant global cyber outage has disrupted airline operations, banking services, and other sectors in countries such as Singapore, the United States, and Australia.

The extensive IT outage, which began early Friday, has affected various airlines, banks, and media outlets worldwide.

Numerous airports and airlines reported IT system issues, resulting in grounded flights and service interruptions. Notably, Sydney airport has seen flights halted, United Airlines has ceased operations, and the London Stock Exchange Group’s platform has encountered disruptions.

In Germany, Berlin airport experienced IT problems, causing delays in check-ins due to technical faults.

Sky News has also gone off-air because of the outage. Sky News executive chairman David Rhodes confirmed the channel’s inability to broadcast live and apologized to viewers via social media. He assured that online news reports remain available and that efforts are underway to restore full services.

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The disruption is linked to issues with Microsoft internet services and CrowdStrike, a cybersecurity software firm.

Rail transportation has not been spared, as the UK’s Govia Thameslink Railway reported widespread IT issues across its network, leading to potential cancellations and delays. The company is actively investigating the root cause and has urged passengers to check their journeys before traveling.

Australia’s Telstra Group also reported service disruptions due to the global issues affecting CrowdStrike and Microsoft.

Microsoft attributed the outage to a configuration change in a portion of its Azure backend workloads, which caused connectivity failures affecting Microsoft 365 services. The affected services include PowerBI, Microsoft Teams, and OneDrive for Business, among others. The tech giant is working on mitigation efforts and has already restored some services.

This global IT outage highlights the interconnected nature of modern digital infrastructures and the widespread impact that technical disruptions can have across various industries.

BREAKING: US airlines grounded, UK banks, others affected after global IT outage

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Biden suspends US presidential campaign as pressure to quit race mounts

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President Joe Biden

Biden suspends US presidential campaign as pressure to quit race mounts

A recent poll has found that nearly two-thirds of Democrats believe President Joe Biden should quit the race for re-election. Influential figures within the Democratic Party, including Nancy Pelosi, Hakeem Jeffries, Chuck Schumer, and Adam Schiff, have not publicly called for Biden to step down. Still, their lack of denial regarding reports of private conversations is notable.

Former President Barack Obama, now seen as an elder statesman within the party, has reportedly expressed concern about Biden’s candidacy. According to The Washington Post, Obama has told allies that Biden’s path to victory has greatly diminished and that he needs to consider the viability of his campaign seriously. Despite an up-and-down relationship between the two, Obama’s concerns carry significant weight.

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Nancy Pelosi, a seasoned politician, is navigating a delicate balance. She does not want to be seen as disloyal to a president she admires. Yet, she also does not want to be complicit if the Democrats suffer significant losses under Biden in the upcoming election. Similarly, Chuck Schumer has reportedly been shown alarming data from a top Democratic fundraising committee indicating Biden is trailing in crucial states like Pennsylvania, Michigan, and Wisconsin. These states are key to Biden’s path to victory, with additional concerns about Nevada, Georgia, and Arizona potentially slipping away.

President Biden himself has recently revised his stance on what it would take for him to reconsider his campaign. Initially, he stated that “only the Lord Almighty” could make him step down, but he later told BET that he would re-evaluate his campaign if his doctor diagnosed him with a medical condition. Following his recent COVID-19 diagnosis, concerns about his age, health, and fragility have been exacerbated, raising further doubts about his candidacy.

Ultimately, the decision to stand down lies with Biden. He remains dismissive of polls, pointing to past election victories that defied predictions, including Trump’s 2016 win, 2020 victory, and the relatively successful midterm elections for the Democrats. There are still Democrats who fully support Biden and consider him sharp enough to lead.

However, with the Democratic National Convention just a month away, where the nomination will be sealed, it feels like the clock is ticking for Biden to decide.

Biden suspends US presidential campaign as pressure to quit race mounts

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Israel bombards central Gaza as tanks advance deeper in Rafah

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Israel bombards central Gaza as tanks advance deeper in Rafah

CAIRO: Israeli forces bombarded the Gaza Strip’s historic refugee camps in the center of the enclave and struck Gaza City in the north on Thursday, killing at least 13 people, and tanks pushed deeper into Rafah in the south, health officials and residents said.

One Israeli airstrike killed six people in Zawayda town in central Gaza and two other people were killed in a strike on a house in Bureij camp. An Israeli air strike killed three people in a car in Deir Al-Balah, a city packed with people displaced from elsewhere in Gaza, health officials said.

In Gaza City in the north, medics said two Palestinians were killed in another airstrike.

The Israeli military said in a statement its forces killed two senior Islamic Jihad commanders in two airstrikes in Gaza City, including one whom it said had taken part in the Oct. 7 attack in southern Israel that triggered the Gaza war.

In Rafah, residents said Israeli tanks advanced deeper in the western side of the city and took position on a hilltop there. The Israeli military said forces located several tunnels and killed several gunmen.

The armed wing of militant group Hamas and its allies said they fired mortar bombs at Israeli forces in southwest Rafah on Thursday.

More than a million people had sought shelter in Rafah from fighting further north, but most have scattered again since Israel launched an offensive in and around the city in May.

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The fighting has pushed the 60-bed Red Cross field hospital in Rafah to the brink of capacity, the International Committee of the Red Cross (ICRC) said in a statement on Thursday.

“The repeated mass casualty events resulting from the unrelenting hostilities have stretched to breaking point the response capacity of our hospital – and all health facilities in southern Gaza – to care for those with life-threatening injuries,” said William Schomburg, head of the ICRC’s subdelegation in Gaza.

CEASEFIRE EFFORTS STALLED

More than nine months into the war, Palestinian fighters led by Hamas are still able to attack Israeli forces with anti-tank rockets and mortar bombs, occasionally firing rocket barrages into Israel.

Israel vowed to eradicate Hamas after its militants killed 1,200 people and took more than 250 hostages in the Oct. 7 attack, according to Israeli tallies. More than 38,000 Palestinians have been killed in Israel’s retaliatory offensive since then, Gaza health authorities say.

On Tuesday, Israel said it had eliminated half of the leadership of Hamas’ military wing and killed or captured about 14,000 fighters since the start of the war. Israel says 326 of its soldiers have been killed in Gaza.

Hamas doesn’t release figures of casualties among its ranks and said Israel was exaggerating to portray a “fake victory.”

Diplomatic efforts by Arab mediators to halt the hostilities, backed by the United States, appear on hold, though all sides say they are open to more talks, including Israel and Hamas.

A deal would aim to end the war and release Israeli hostages in Gaza in return for many Palestinians jailed by Israel.

Hamas was awaiting an Israeli response to a ceasefire offer drafted by the United States based on ideas announced by President Joe Biden, a Palestinian official close to the mediation effort said.

“The feeling in Hamas is that (Israeli Prime Minister Benjamin) Netanyahu is stalling and that he might not say anything before he goes to the United States next week,” said the official, who asked not to be named.

Israel bombards central Gaza as tanks advance deeper in Rafah

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