TESLA’s dependence on Regulatory Credits that shot up their revenues in the last four quarters has been yet again under scrutiny and this time the critic is the American investor and hedge fund manager Michael Burry, who’s betting against Tesla and its strategy of monetizing from the regulatory credits. The investor is long puts against 800,100 shares of Tesla, as revealed in the filing with SEC.
Burry in a tweet (now deleted) said that TESLA’s reliance on regulatory credits to earn more profits concerns him and also bet against the EV maker betting that Tesla shares will go definitely go south.
In a regulatory filing with the U.S Security and Exchange Commission, Burry revealed a short position against Tesla worth $534 million. “The Big Short” also mentioned that Tesla might be impeding the company’s long-term prospects by relying on profits generated from regulatory credits.
In this article, we will be exploring what are regulatory credits and how Tesla has made it the company’s alternate medium to generate revenues.
In a pledge to reduce carbon emissions, governments around the world have introduced incentives for electric vehicle manufacturers to develop environmentally friendly, low carbon-emitting cars. Every car manufacturer has to develop a certain number or percentage of eco-friendly cars in order to avail these credits.
Regulatory Credits are like subsidies provided by the State of California and 13 other US states in the country for regulating factors that are responsible for environmental pollution which include: zero-gas emission, greenhouse gas, clean fuel, and carbon emission.
How Tesla generates revenue from Regulatory Credits?
The governments issue regulatory credits to vehicle manufacturers. Auto manufacturers require to produce a certain number of Zero-emission vehicles (ZEV) to obtain these credits. If they fail to comply at the end of the year, companies are levied with hefty fines.
Since Tesla has an all EV line-up, it stacks up surplus credits. These credits are tradable and therefore other automakers buy these credits from Tesla to avoid an excessive fine. For example, Fiat Chrysler Automobiles NV has reportedly committed to buying $1.2 billion worth of regulatory credits from Tesla to comply with the new European environmental regulations going into effect from 2021.
In the last quarters, Tesla’s revenue grew by 46% YOY from $7.38 billion to $10.74 billion. This revenue isn’t just from auto making and leasing cars. A significant portion comes from the sale of regulatory credits.
Business Model of Tesla
Tesla has three business segments that generate revenue: Automotives, Energy, Services, and others. Automotive revenue include sales and leasing. Further, under automotive sales, we have new vehicle deliveries, autopilot, supercharger networks, and self-driving cars.
Another segment under Automotives that fuels the revenues is the sales of regulatory credits. When complied, this figure aggregates Tesla’s total sales revenue.
Tesla’s regulatory credits sales have been increasing YOY at a CAGR of 57% between 2012 and 2021. A record high for the company, Tesla’s regulatory credit sale revenue rocketed at nearly $1.6 billion last year.
Regulatory credits can be availed with zero to a negligible cost and can be sold with a 100% profit margin. Over the decade, Tesla has been stacking up on huge amounts of credits as it has surplus credits over the required compliance. It made $428 million last year’s second quarter from selling regulatory credits alone.
Regulatory Credits in other countries
Other than the US states, Tesla has its business in China and Europe who have emission rules along the same lines. China has been steadily progressing in the emission-free cars campaign since 2019 and Tesla is bound to receive the green credits.
In Europe, the lawmakers stated that the average emission of carbon dioxide from cars must not exceed the limit of 95 grams per kilometer. Europe is aggressively pushing the development of cars that emit less than 50 grams of CO2 per kilometer.
FAQ
How does Tesla get regulatory credits?
Regulatory credits are provided by the State of California and 13 other US states to Tesla.
What are regulatory credits?
Regulatory Credits are given by the state and federal government for contributing zero pollution to the environment.
How much does Tesla make selling carbon credits?
Tesla sells regulatory credits to other carmakers, Fiat Chrysler Automobiles NV has reportedly committed to buying $1.2 billion worth of regulatory credits from Tesla.
Conclusion
In 2020, Tesla reported a regulatory credit revenue of $1.6 billion breaking all prior records. When we look at all the quarterly reports, Tesla seemingly isn’t generating profits from its automotive sales and is rather relying on the sales of regulatory credits which has in fact helped Tesla stay afloat.
In the fourth quarter of 2020, Tesla’s CFO was asked about the sustainability of revenues coming from regulatory credits for 2021. In an interview with CNBC, he stated “What I’ve said before is that in the long-term regulatory credit sales will not be a material part of the business and we don’t plan the business around that,” he said at that time. “It’s possible that for a handful of additional quarters it remains strong. It’s also possible that it’s not.”
Tesla’s net profits went south amounting to $600 million without the regulatory credit revenue in its first quarter in 2021.
Burry and other financial experts are predicting that selling regulatory credits won’t be a winning move for Tesla in the long run as most of the automakers will get into EV line-ups either with the fear of compliance or for the sake of the environment.
Elon Musk is an American entrepreneur and a Business Magnate. He is the founder, Chief Engineer and CEO of SpaceX, CEO, product architect and an early-stage investor of Tesla, founder of the Boring company and also the co-founder of Nueralink and OpenAI.
He is one of the richest men in the world. Elon Musk has been posting a series of tweets on the major cryptocurrencies such as Bitcoin and Dogecoin from the past few months. Let’s look at why Elon Musk is not launching his own cryptocurrency.
Elon Musk is regarded as the father of Dogecoin. He was the major reason for this volatile meme currency to increase its market capitalization and for a lot of users to invest their money into it. He has also promoted bitcoin and Dogecoin through a several number of tweets on his twitter platform.
He has also had a lot of optimistic views about the cryptocurrencies especially bitcoins and dogecoins. He had posted a tweet where he conveyed that there are a lot of chances that cryptocurrencies will be the future currency on the planet.
Elon Musk’s View on Cryptocurrencies
While a lot of financial managers and investors have always been pessimistic about these digital coins and always regarded them as a bubble, Elon Musk on the other hand always stayed optimistic. Even Tesla has bought bitcoins worth billions of dollars.
The company had also started accepting bitcoin as a payment method for purchasing their products. But recently they had stopped accepting this cryptocurrency.
Reason Why Elon Musk is not launching his own Cryptocurrency
The main reason which was quoted by the company for the stoppage of accepting bitcoins as a payment gateway was due to the environmental harm caused by the digital coin. This was a major controversy against the billionaire as he was the one who promoted it and later claimed that bitcoins were causing a lot of pollution.
Elon Musk had posted a tweet which conveyed that the company will no longer accept bitcoins as a payment method as mining bitcoins require a lot of electricity and the major source of electricity is from coal and this leads to a lot of pollution and due to the reasons regarding sustainability.
He had also conveyed that the company Tesla will not sell any of their bitcoins and the company would start accepting cryptocurrency as a payment method as soon as the bitcoin miners would move to a sustainable source of energy.
Environmental Sustainability can be one of the major reasons for Elon Musk to not launch his own cryptocurrency. But Elon Musk had conveyed that they were looking for other cryptocurrencies that use less than 1% of bitcoins energy for transactions.
A twitter user had recently asked Elon Musk, why he was not creating his own cryptocurrency from the scratch which would do everything he requires technically and have a lot of dev support and wouldn’t have a high concentration of ownership initially.
Elon Musk had replied to the tweet saying that, if only Dogecoins won’t be able to do it, he said he would look in for creating another one.
Only if Doge can’t do it. Big pain in the neck to create another one.
Elon Musk Clarified that Tesla has not sold its Bitcoin, but Tesla has stopped taking Bitcoin as a mode of payment for its cars.
Does Elon Musk invest in Cryptocurrency?
Elon Musk has actively supported dogecoin, a cryptocurrency that started as a joke which portrays a shiba inu dog.
Conclusion
Elon Musk had recently promoted Dogecoin while hosting a live show on the TV. Dogecoin is the fourth largest cryptocurrency in the market and has increased more than 659 % during the year. However, Elon Musk considers that the digital coin has a long way to go.
Elon Musk has been in the limelight since he had gained the title of the world’s richest man. He has been called as the crypto king after his tweet went viral and the shares of the meme-based currency Dogecoin had soared in its value.
Elon Musk is the CEO of Tesla and SpaceX but recently there was a company named Elonspace being registered in the United Kingdom. Let’s look at the further details of the company.
There has been a recent filing on the Companies House which is the official business registrar of the United Kingdom. The newly registered company was a sole proprietorship which was registered under the sole director named Elon Musk PhD and the name of the company was Elonspace Ltd.
When they looked at the entry made in the Companies House, the birth month and nationality of the director is the same as that of Elon Musk, Tesla and SpaceX CEO.
Even though the company and the name of the director sound similar to the real Elon Musk who is the CEO of Tesla and SpaceX both are different individuals. Elon Musk had not completed his PhD and had dropped out of it after two days of his enrollment.
When looked at the other details such as the UK based location and the country of residence it is different from the original Elon Musk. Hence the company does not seem to be a fake one as the details provided are different.
The contact address provided by the Elonspace Ltd is located in West London which is a tower building that is used for student accommodation. The registered work entered by the company indicated that it involves in IT, data processing and computer facility management.
The student accommodation tower used as a correspondence address for Elonspace Ltd. in West London
The real identity of Elonspace Ltd remains unknown as of now. But an interesting fact to be noted is that a new crypto with the same name as the registered company had been promoted on the social media posts.
It was founded that the cryptocurrency which got promoted on the social media post was during the same week the company had registered with the register. However, the representative of the crypto company had conveyed that they wouldn’t be able to provide any classified information about the company and the owner as it is and would be a violation of their NDA.
About Companies House
Companies House is the United Kingdom’s registrar of companies. They also act as an executive agency and the trading fund of Her Majesty’s Government. They are located in Crown Way, Cardiff. It is an executive agency that is sponsored by the Department of Business, Energy and Industrial Strategy.
All the forms of companies that are permitted by the United Kingdom Companies Act are registered under the Companies House.
FAQ
Does Elon musk owns Elonspace Ltd?
No, Elon musk does not owns Elonspace Ltd.
Who owns Elonspace Ltd?
The sole director named under Elonspace Ltd is Elon Musk PhD.
Where is Elonspace Ltd located?
Elonspace Ltd is located in West London which is a tower building that is used for student accommodation.
Conclusion
There has been no much information available about the newly registered company the crypto token which is spread on the social media. We will have to wait for more information to be provided about the company.
Tesla, the electric vehicle manufacturer of Elon Musk, is set to start selling its base model in India in the near future. While many of its fans in India were jubilant about Tesla’s entry, capturing the market can be the most daunting challenge the company has had until now. A Bloomberg article notes that Elon Musk is negotiating the opening of showrooms and possibly a factory with other Indian states Galuru branch. In India less than 1% of vehicles sold are electric vehicles, according to the Bloomberg report. The launch of Tesla’s business in India will pose a significant challenge for the company. Let’s have a look at the Challenges and Difficulties Tesla might face in India.
Elon Musk’s clean energy and electric vehicle company Tesla will start operations in India early next year, confirmed Union Minister for Road Transport and Highways Nitin Gadkari.
Tesla is initially expected to sell its vehicles in India, and Tesla would also look at setting up a manufacturing facility at a later stage depending on demand, Gadkari told The Times of India. At a recent media event, Gadkari said there is focus on developing electric cars and added that a lot of Indian firms are also looking at developing electric cars. Ultimately, Tesla ended up setting up its unit in Bengaluru.
India announces steps to improve the country’s Electronics sales but they may not be sufficient to increase the sales of Tesla’s costly EVs. In 2015, India launched the Faster Adoption and Development of Hybrid and Electronic vehicle (FAME), which includes a INR 900 crore pledge to subsidies for electric tricycles for busses, as per the International Energy Agency, with a Faster Adoption and Development of Hybrid and Electronic vehicle (FAME). Another FAME program with INR 10,000 Crore was launched in 2019 to enable people to buy electricity supplies and build charging infrastructure. In addition, by August 2019, the government has reduced the Goods and Services Tax GST on electricity vehicles to 5 percent.
The tax rates for cars in India are one of the highest in the world. This includes a 28% Goods and Services Tax (GST) and charges ranging from 3% to 22%. Though subsidies for electric cars exist in places like New Delhi, they are not sufficient for more people to afford Tesla’s cars. High taxes deter demand, and thus the attractiveness of economies of scale to consumers is reduced for manufacturers. For international brands, that was disastrous. Toyota announced last month that further growth in India will be stopped due to high taxes. Harley Davidson’s decision to leave the market recently was allegedly attributed to higher taxes. Last year, Ford announced its move to a joint enterprise for the most part of its assets. So, it will be challenging for Tesla because big companies are pulling out because of higher taxes.
In India, Tesla’s greater challenge is pricing. Given that Tesla’s costly bids would not be eligible for EV subsidies in this region, Bloomberg New Energy Finance (BnEF) Analyst Allen Tom Abraham told Bloomberg that the top limit for EVs in India to eligible for subsidies is INR 15 lakh. It is worth noting that Tesla Mode l3, built in China, is started at 2,65,740 yuan or almost $41,000. The cost of crossing Model Y from Shanghai begins with 339,900 yuan. In addition to the price the export prices and charges on the Tesla cars will not be met for the majority of customers when they arrive in India.
It is about half that of China’s average prices and just 25% of USA’s average vehicle prices. This suggests that Tesla’s cheapest car in India will attract just around 1% of the market, says Abraham. Tesla would therefore have a marginal sales volume in India. While Tesla is facing challenges, India’s demand for electricity is now at a rising stage and, according to a study conducted by Council of Energy, Environment and Water (CEEW) for Energy Finance, Energy value in India could reach up to $206 billion in the next decadence. If it is to succeed, Tesla must keep its commitment to India. This is not the first time that Tesla CEO Elon Musk promises to visit India, as most musk watchers know.
Tesla would open its Model 3 vehicle pre-bookings, and deliveries would take place later this year. In India, the other Tesla models will be Model X, Model S, and Model Y, with approximate prices of INR 2 crore, 1.5 crore, and 50 lakh respectively. There is no chance of the business working with dealer companies in order to sell their vehicle. Potential buyers should note that while Model 3 is one of the more affordable cars in Tesla, it is not cheap to get to India, since it will be fully-built (CBU) cars with a high import duty. Although the prices are not confirmed, reports show that Tesla Model 3 could cost INR 55 lakh in India.
As of April 2021, they are not. But Tesla has already set up its unit in Bengaluru so it is assumed that they will be made available very soon.
Where has Tesla set up its Units in India?
Tesla has set up its unit in Bengaluru, India.
What will be the prices of Tesla in India?
It is expected that the pricing for Tesla in India will start from INR 55 Lakhs.
Why is Tesla so expensive?
Tesla’s cost more than average cars due to its use of cleaner energy sources and it’s advanced technologies. In India, other than import taxes they will also not be eligible for EV subsidiaries in India. This would be a challenge for Tesla.
Which Tesla car is coming to India?
Tesla Model 3, Model Y, Model S, Model X with approximate prices of INR 55 lakh, 50 lakh, 1.5 crore and 2 crore respectively.
Recently Tesla had announced that it would accept the cryptocurrency bitcoin as a payment method for the purchase of their electric vehicles. But now the company has announced that it has suspended the use of bitcoins for the sale of its electric vehicles. Let’s look at the reason why Tesla stopped accepting bitcoins as a payment for their electric vehicles.
On 12 May 2021, Tesla had announced that it would stop accepting bitcoins for the purchase of its electric vehicles. This update was conveyed by the CEO of Tesla, Elon Musk just after a month when the company had announced that it would start accepting bitcoin as a payment method.
Elon Musk had shared a statement on Twitter that conveyed the message saying that the move from the company is suspending bitcoin as a payment method is due to environmental reasons. He added that as a result, the company will no longer accept bitcoins as a payment method for their cars.
The statement shared by Elon Musk reads the message which says Cryptocurrency is a good idea based on many levels and we believe that it has a great potential and future. He added that but it cannot come at a great cost for the environment.
The environmental harm mentioned by the company refers to the emissions that are generated because of the use of fossil fuels for the mining of bitcoins. Tesla has conveyed that they are concerned about the increased continuous use of fossil fuels especially coal for the transaction and mining of bitcoins. Coal is considered to have the worst emission compared to any other fuel.
The underlying reason is that bitcoin mining requires a huge amount of computing prowess which is usually met by computers that are really powerful with the latest features. The increase in the popularity of bitcoins and cryptocurrencies has led to an increase in the mining of these digital coins which makes it harder for the miners and they would opt for more powerful computers.
This in turn increases the operations as well as the consumption of the energy through fossil fuels. These machines will require a lot of electricity for their running. It is noted that bitcoin mining operations around the world collectively use around 120 terawatt-hours of energy in one year. This is equal to the energy that is consumed by an entire country.
Some of the environmentalists have been informing about the environmental harm caused due to the increase in cryptocurrencies for a very long time. The situation for the environment is expected to get worse as days passed and Tesla has apparently realized this fact.
The point which should be noted is that cryptocurrencies are considered to be bad for the environment only if it uses the electricity that is generated through fossil fuels. If the energy that is used to mine the cryptocurrencies are generated through coal it is expected to have a huge impact on the environment.
It is to be noted that if the same amount of energy can be provided or generated through solar energy, the impact on the environment will be neutralized and cryptocurrencies will no longer be a harm to the environment.
Tesla had already provided a hint about this solution in its statement. They had mentioned that the company is planning to use its USD 1.5 billion worth of bitcoins in the future only when the energy is generated through a sustainable source.
This means that if the environmental conditions are met, the company is more likely to start accepting bitcoins as a payment source in the near future.
Tesla CEO Elon Musk said the car company will no longer accept Bitcoin as a payment for car purchases.
How many Bitcoins does Tesla have?
Tesla holds around 38,300 Bitcoin that cost around $1.329 billion.
Why is Tesla not accepting Bitcoin?
Tesla has suspended vehicle purchases using Bitcoin due to climate change concerns, its CEO Elon Musk said in a tweet.
Conclusion
Tesla is said to be looking for another cryptocurrency that uses only 1 % of the energy used by bitcoins for transactions and operations. The new Tesla payment option for the buyers shall be the cryptocurrency if it is to double down on one.
Tesla which is known for the sales of electric vehicles also deals with the sale of clean energy products. Recently Elon Musk who is the CEO of Tesla has said that he wants to make a distributed power plant in every home. Let’s look at how Tesla is planning to make it possible.
New Company Policy of Tesla
The CEO of Tesla, Elon Musk wants to make a distributed power plant in each and every home. The distributed power plant will generate, store and even deliver the energy back into the electricity grid. All these will be possible by just using the products of Tesla.
The company has been involved in the sale of solar and energy related products for quite a few years. Elon Musk on 26 April 2021 commented a new company policy which states that Tesla will only sell solar products coupled with energy storage products.
The new company policy is a strategy that is aimed to scale the energy product business of Tesla by showing it in the form of essential utilities. During an investor call, Elon Musk said that the new strategy has a successful future for utilities as well as Tesla.
He added on saying that, if this is not done then the utilities will fail to serve the customers and said that the utilities will not be able to do it. He came up with this strategy noticing the blackouts last summer in California and the most recent failures in the grid in Texas. These incidents have become a big concern on the reliability of the grid.
Last week, Tesla had bough some changes to its website. The company had changed the options on the website to prevent customers from only buying solar or its Powerwall energy storage products. The customer had the option to only purchase the entire system.
Elon Musk later posted a tweet that stated that the solar power will feed the energy completely to the Powerwall and the Powerwall will use it only between the utility meter and the main breaker panel of the house. He said that these features will enable a super simple install and will provide a house backup seamlessly during utility dropouts.
Tesla Website
Elon Musk’s view
Elon Musk’s statement says that, the grid will need more power lines, larger substations and more power plants in order to use renewable resources and storage to decarbonize fully. In Elon Musk’s view distributed residential systems using the products of Tesla will provide a better path.
A recent study from the Massachusetts Institute of Technology has backed up the claim of Elon Musk by finding that the United States can decarbonize fully by more than doubling the transmission capacity of the grid.
Another study from Princeton University has shown that the country will have to triple its transmission capacity of the grid to reach net zero emissions by 2050.
According to the imagination of Elon Musk, the electric grid system is completely different from the one we have today. He wants a grid system that is centrally controlled and run by the grid operators or the independent organizations such as the Electricity Reliability Council of Texas or the California Independent System operator. The vision is to solve the logistic and the bureaucratic challenges.
He said that there should be a policy on the Utility and the Regulatory to solve the problem on the ways to handle the large entry of people on the distributed energy resources such as installation of solar panel on residencies which may run opposite to the utilities that are long established on the business models.
Martin Eberhard and Marc Tarpenning started the original Tesla Motors in 2003.
Who was the first CEO of Tesla?
Martin Forest Eberhard was the first CEO of Tesla.
Who is the CEO of SpaceX?
Elon Musk is the CEO of SpaceX.
Conclusion
However, the important point to be noted is whether just renewable energy storage is sufficient to achieve net-zero carbon emissions through the grid system. Elon Musk had always been positive towards the model of renewables plus storage. In July 2020 he had tweeted that physics favors electric transport, solar or wind for energy generation and batteries for stationary storage.
Elon Musk who is the CEO of Tesla and SpaceX had recently announced a new competition on the World Earth Day which is on 22 April 2021. The competition is hosted by XPrize and Elon Musk had entered as the chairman of XPrize in order to announce about the competition. Let’s look at what exactly is the competition about and How to enter the competition.
Elon Musk is one of the richest people in the world. He was born in 1971 in South Africa. He is an engineer, industrial designer and a business magnate. He is the founder of SpaceX, The Boring Company, and X.com. He is the co-founder of Neuralink, OpenAi and Zip2. He is the CEO of Tesla and the chairman of Solar City.
The Musk Foundation
The Musk Foundation is a private grant-making foundation. It was founded in the year 2002 by Elon Musk and his brother Kimbal Musk. They provide grants for renewable energy research, science, and engineering education, human space exploration research, the development of safe Artificial Intelligence to benefit humanity, and pediatric research.
On World Earth Day, Elon Musk had announced about a USD 100 million competition which is based on Carbon Removal. The main aim of the competition is to motivate innovators around the globe to come up with an idea to seize the carbon durably and sustainably.
According to the competition’s website, they require the innovators to come up with a large-scale project that will pull the Carbon-di-oxide directly from the atmosphere and oceans and should be able to seize it in a durable and sustainable manner. The competition is for the time frame of 4 years.
The winners of the projects will be based on proving by the team that their project can remove at least around 1,000 tones of carbon-di-oxide yearly and model their costs on a scale of 1 million tones on a yearly basis.
The teams will also have to show a way to achieve a scale of gigatons on a yearly basis in the future. The eligibility criteria for the competition are that the project should be based on any carbon negative solutions according to Elon Musk and the Musk foundation as the competition is funded by them.
The judges will review the submissions within one year of the competition and award up to 15 prizes with the prize money of up to USD 1 million each. The judges will later select one grand prize winner after four years who will receive an amount of USD 50 million. The judges will also select 3 runners up and they would receive an amount of USD 30 million each.
XPrize Foundation
XPrize Foundation is a non-profit organization. The organization was founded in the year 1994 and is located in California, the United States. The organization was founded by Peter Diamandis. Some of the notable trustees of the organization are Larry Page, James Cameron, Ratan Tata, and many more.
The Foundation designs and hosts public competitions. The main aim is to encourage technological development which is focused on benefitting humanity.
Marcius Extavour who is the Vice President of Climate and environment at XPrize said that climate change poses a greater threat in 2021 and it should be very clear to everyone that our Carbon-di-oxide emissions are the major reason for the cause.
He added saying that the prize is about the development and deployment of solutions that can be carbon negative as the race is to get to net zero.
You can visit XPRIZE’s Website to register for this competition.
XPRIZE Website
FAQ
What was Elon Musk’s first project?
Elon Musk founded X.com in 1999 (which later became PayPal), SpaceX in 2002 and Tesla Motors in 2003.
What is the net worth of Elon Musk?
The net worth of Elon Musk is 17,260 crores USD as of 2021.
Does Elon Musk drive a Tesla?
Musk is usually seen driving around in his Tesla Model S or the Tesla Model X
Conclusion
The main aim of the competition will be to remove carbon-di-oxide from the atmosphere and to turn the theoretical ideas into practical solutions. This will be a great platform for the innovators to showcase their ideas and towards making them practically possible.
There are a lot of billionaires in the world. Billionaires play a major role in contributing to the growth of a country and its economy by indirectly reducing unemployment and poverty.
Here is the list of the top countries with most number of billionaires and the top billionaires of that country.
The United States of America is a country which is located in the Northern America. The country is commonly as the United States or the U.S. The country has a population of around 331 million and ranks third in the most populated countries around the world.
According to the International Monetary Fund, the U.S GDP is around USD 16.8 trillion. For GDP per capita at PPP, the country is ranked sixth in the world and the ninth in the world for nominal GDP per capita.
United States have around 724 billionaires in the country. The top billionaires of the country are,
Jeff Bezos with a net worth of USD 177 billion. His main source of wealth is through Amazon.
Elon Musk with a net worth of USD 151 billion. The main source of wealth is through Tesla and SPACEX.
Bill Gates with a net worth of USD 124 billion. His main source of wealth is through Microsoft.
China
China is a country which is located in the Asian continent. The official name of China is People’s Republic of China. China has a population of around 1.4 billion and it ranks 1st in the world for the most populated country. China is also world’s 3rd or 4th largest country by area.
In terms of nominal GDP since 2010 China has the world’s second largest economy. According to World Bank in terms of Purchasing Power Parity GDP China’s economy has been the world’s largest since 2014. The nominal GDP of the country is around USD 13.5 trillion.
China has around 626 billionaires in the country. The top billionaires of China are,
Zhong Shanshan with a net worth of USD 68.9 billion. His main source of wealth is through Nongfu Spring. Nongfu Spring is a Chinese bottled water and beverage company.
Nongfu Spring Products
Ma Huateng with a net worth of USD 65.8 billion. His main source of wealth is through Tencent.
Colin Zheng Huang with a net worth of USD 55.3 billion. His main source of wealth is through Pinduoduo. Pinduoduo Inc. is an agriculture-focused technology platform in China.
India
India is also a country which is located in the Asian continent. India is officially known as Republic of India. India ranks second in the most populated country around the world and India is considered to be the most populated democratic country in the world. In terms of land area, India is the seventh largest country in the world.
The Indian economy in 2019 was worth USD 2.9 trillion nominally according to International Monetary Fund. India is the fifth largest economy by market exchange rates with around USD 11 trillion. India is one of the world’s fastest growing economies.
Shiv Nadar with a net worth of USD 20.4 billion. His main source of wealth if through HCL technologies.
Germany
Germany is a country which is located in the European Continent. It is officially known as Federal Republic of Germany. The population of the country is around 83 million and 357,022 square kilometers, it is the area which is covered by the country. Germany ranks second in the most populated country in the European continent.
Germany’s economy is a social market economy. Germany is considered to have a very low level corruption, high level of innovation and high skilled labourers. Germany ranks third in the world for exporting of goods. The country ranks 1st European continent for the largest economies and ranks fourth across the globe for the largest economies.
Germany has around 136 billionaires in the country. The top billionaires of Germany are,
Beate Heister & Karl Albrecht Jr with a net worth of USD 36.1 billion. Their source of wealth is through their family operated discount supermarket chain Aldi Sud.
The largest Aldi sud supermarket located in the world opens in the German Ruhr area
Dieter Schwarz with a net worth of USD 22.6 billion. The main source of wealth is through multinational retail grocery shops Schwarz Gruppe.
Susanne Klatten is the BMW heiress with a net worth of USD 21 billion. The main source of wealth is through BMW, Atlanta Nordex and SGL Carbon.
Russia
Russia is a country which is located in the European continent and is also known as Russian Federation. In terms of land area, Russia ranks 1 among the world’s largest countries. The land area Russia covers is around 17, 125, 191 square kilometers. The population of Russia is around 146.2 million which makes it the most populated country in Europe and the country ranks 9th in the most populated countries around the world.
Russia has an economy which is a transition of upper-middle income. The country is considered to have enormous amount natural resources. Their natural resources include oil and gas. Russia ranks 6th in the world in terms of largest economies by PPP GDP and ranks 7th in the world in terms of largest economy by nominal GDP. Russia’s GDP per capita by PPP is around USD 29, 485 as of 2021, according to International Monetary Fund.
Russia has around 117 billionaires in the country. The top billionaires of Russia are,
Alexey Mordashov and family have a net worth of USD 29.1 billion. Mordashov has the majority shareholding in the steel company Severstal.
Vladimir Potanin with a net worth of USD 27 billion. His main source of wealth is through metals.
Vladimir Lisin with a net worth of USD 26.2 billion. The main source of wealth is through steel and transport.
Hong Kong is a country that is situated in the Asian Continent. It is one of the countries which has a very high population around the world and a economy that is capitalist mixed service. The country has a very minimal intervention in the market by the government, low taxation and an international financial market that is well established.
Hong Kong has a nominal GDP of USD 373 billion which makes its economy 35th largest in the world. Hong Kong has around 71 billionaires in the country. The top billionaires of Hong Kong are,
Li Ka-shing with a net worth of USD 35.4 billion.
Lee Shau Kee has a net worth of USD 30.5 billion.
Henry Cheng and family with a net worth of USD 22.1 billion.
Brazil
Brazil is known as the Federative Republic of Brazil. In both Latin America and South America, Brazil is the largest country. The country also has the largest economy in Latin America and has the 7thlargest economy in the world.
Brazil has around 65 billionaires in the country. The top billionaires are,
Jorge Paulo Lemann with a net worth of USD 16.9 billion.
Eduardo Saverin with a net worth of USD 14.6 billion.
Marcel Herrmann with a net worth of USD 11.5 billion.
Canada
Canada is a country which is located in North America. It is the second largest country in the world. Canada has the 10th largest economy in the world. USD 1.73 trillion is the approximate value of the nominal GDP of Canada.
Canada has around 64 billionaires in the country. The top billionaires are,
David Thomson and family with a net worth of USD 41.8 billion.
Joseph Tsai with a net worth of USD 11.6 billion.
Tobi Lutke with a net worth of USD 9.8 billion.
United Kingdom
United Kingdom is a country that is located in the European continent. The country’s economy is a partially regulated market. In Europe, UK is the second largest economy after Germany and around the world UK has the 5thlargest economy.
UK has around 56 billionaires. The top billionaires are,
James Ratcliffe with a net worth of USD 17 billion.
Hinduja Brother with a net worth of USD 14.9 billion.
Michael Platt with a net worth of USD 13 billion.
Italy
Italy is a country which is located in the European continent. The economy of Italy is an advanced capitalist mixed economy. In the Eurozone, Italy has the third largest economy and worldwide it has the 8thlargest economy. The country is considered as the most industrialized nation.
Italy has around 51 billionaires in the country. The top billionaires are,
Giovanni Ferrero and family with a net worth of USD 25.2 billion.
Leonardo Del Vecchio and family with a net worth of USD 17.9 billion.
Stefano Pessina with a net worth of USD 13.4 billion.
Japan
Japan is an Island country which is located in the Asian continent. Japan is the 11th most populated country in the world. In terms of nominal GDP after United States and China, Japan has the 3rdlargest national economy.
Japan has around 49 billionaires in the country. The top billionaires are,
Tadashi Yanai with a net worth of USD 48.7 billion.
Masayoshi Son with a net worth of USD 34.9 billion.
Takemitsu Takizaki with a net worth of USD 32 billion.
Taiwan
Taiwan that is officially known as Republic of China is a country in the Asian continent. The country has been called Taiwan Miracle because of its quick industrialization and rapid growth. This was mainly during the latter half of the 20th century.
Taiwan has 47 billionaires in the country. The top billionaires are,
Wei Ing-chou who has a net worth of USD 7.2 billion.
Ying-Chiao who has a net worth of USD 7.2 billion.
Australia is officially known as the Commonwealth of Australia. It is a sovereign country located in the Australian continent. The 6thlargest country around the world is Australia. It is considered to be a wealthy country with a very low rate of poverty and high GDP per capita.
Australia has 44 billionaires in the country. The top billionaires are,
Gina Rinehart with a net worth of USD 14.8 billion.
Harry Triguboff with a net worth of USD 9 billion.
Anthony Pratt with a net worth of USD 6.8 billion.
South Korea
South Korea is officially known as the Republic of Korea. It is a country which is located in the east of the Asian continent. South Korea’s economy is a mixed economy and in terms of the nominal GDP South Korea ranks 10th around the world. It has a high-income economy which makes it a developed country.
South Korea has 43 billionaires in the country. The top billionaires are,
Jay Y Lee who has a net worth of USD 11.2 billion.
Kim Beom-SU who has a net worth of USD 7.6 billion.
Seo Jung-Jin who has a net worth of USD 7.4 billion.
France
France is known as French Republic. It is a country which is located in the European continent. In terms of PPP GDP France is ranked as the 10th largest in the world and is ranked 2ndlargest in the European Union in terms of PPP GDP. France’s economy is a diverse economy with a domination towards the service sector.
France has around 42 billionaires in the country. The top billionaires are,
Bernard Arnault with a net worth of USD 76 billion.
Francoise Betterncourt with a net worth of USD 49.3 billion.
Francois Pinault with a net worth of USD 29.7 billion.
Sweden
Sweden is officially known as the kingdom of Sweden. It is a country which is located in the European Continent. In terms of GDP, It is the 16th richest country in the world. A high standard of living is experienced by the citizens of Sweden.
Sweden has around 41 billionaires in the country. The top billionaires are
Stefan Persson with a net worth of USD 15.6 billion.
Hans Rausing and family with a net worth of USD 12 billion.
Jorn Rausing has a net worth of USD 8.7 billion.
Switzerland
Switzerland is officially known as Swiss Confederation. It is a country that is located in the European continent. Switzerland has lands in all the four sides of their border and hence called as landlocked country. Switzerland has a high-tech economy which is stable and prosperous. It has been ranked as one of the least corrupted countries around the world.
Switzerland has around 40 billionaires in the country. The top billionaires are,
Gianluigi and Rafaela Aponte with a net worth of USD 10.7 billion.
Guillaume Pousaz with a net worth of USD 9 billion.
Ernesto Bertarelli with a net worth of USD 8.6 billion.
Thailand
Thailand is officially known as the Kingdom of Thailand and was formerly known as Siam. The country is located in the Asian continent. Thailand is considered to be a newly industrialized country and is an emerging economy.
Thailand has 31 billionaires in the country. The top billionaires are,
Dhanin Chearavanont with a net worth of USD 18.1 billion.
Charoen Sirivadhanabhakdi with a net worth of USD 13.5 billion.
Sarath Ratanavadi with a net worth of USD 8.9 billion.
Spain
Spain is known as the Kingdom of Spain. The country is located in Europe. Spain has a capitalist mixed economy. They have the 14th largest economy around the world and 4th largest in the European Union.
Spain has 30 billionaires in the country. The top billionaires are
Amancio Ortega with a net worth of USD 81 billion.
Sandra Ortega Mera has a net worth of USD 6.7 billion.
Singapore is known as the Republic of Singapore. The country is located in the Asian continent. Singapore has a highly developed economy. The Singaporean economy is considered to be business friendly, innovative, dynamic and a free economy.
Singapore has around 27 billionaires in the country. The top billionaires are
Zhang Yongwith a net worth of USD 23 billion.
Goh Cheng Liang with a net worth of USD 21.7 billion.
Li Xiting has a net worth of USD 21.5 billion.
Turkey
Turkey is known as the republic of Turkey. The country is located in the European continent. Turkey is considered to have an economy that is upper middle-income. The country is considered as a newly industrialized country. Turkey is 20th largest around the globe in terms of nominal GDP.
Turkey also has around 27 billionaires in the country. The top billionaires are,
Erman ılıcak with a net worth of USD 3.8 billion.
Murat Ülker with a net worth of USD 3.7 billion.
Hüsnü özyeğin with a net worth of USD 2.1 billion.
FAQ
How many Trillionaires are there?
As of today, there are no trillionaires who live on earth.
Who is the wealthiest family in the world?
Walton Family – Walmart is the wealthiest family in the world with a Estimated net worth of $215 billion.
Is Kylie Jenner a billionaire?
Kylie Jenner, 23, was the youngest billionaire, but did not make the cut this year. In 2019, she was controversially named the youngest self-made billionaire in 2019.
Conclusion
These are the list of the top Countries with the most number of billionaires. Some of the other countries with the most number of billionaires are Israel with 17, Indonesia and Philippines with 15, Mexico, Norway and Malaysia with 12, Netherlands with 11, Austria and Ireland with 9, Czech Republic and Denmark with 8 and so on.
This figure needs no introduction. The man with the citizenship of South Africa, Canada, and the United States, the entrepreneur is without second thoughts the most talked about man in the tech industry now. There’s nothing that this man can achieve. At 47, he has achieved almost everything one can dream of. Starting from launching rockets into the orbit, making cash payment easy (through PayPal), launching electric vehicle, and building Hyperloops, Musk has had his finger in all possible pies. His appearance in television shows and gracing award shows makes him a favorite for tabloids. His appearance in Rick and Morty, a television series that has gained a huge following, attests to his popularity. Elon Musk is the real-life Tony Stark!.
Elon Musk”s net worth is $176.4 Billion as of April,2021.
Born in Pretoria, South Africa, Elon always wanted to do something big about his fantasies. He was lost in his imaginary world so much that his parents had to consult a doctor to have his hearing checked.
To see your parents getting separated is the last scene a child would like to see. It leads to all kind of trauma. Elon, who was ten at the time of his parent’s divorce, kept himself from getting distracted by immersing himself in the world of computers. At twelve, he created his first software, a game called Blastar.
As a child, Elon was an introvert and a bookworm. Unfortunately, he was bullied at school until he learnt karate and basic wrestling.
Elon Musk has founded and has been associated with many companies. He founded Zip2 Corporation in 1995 and later launched other companies like X.com, Space X, The Boring Company, and more. He is the CEO, and product architect of Tesla.
Elon Musk-Zip2 Corporation
Elon Musk Zip2 Corporation Logo
The startup Zip2 Corporation provided Elon’s first shot at becoming a household name. Elon and his brother, Kimbal Musk, were the founders behind Zip2 Corporation. Zip2 Corporation was an online city guide and provided content for companies like The New York Times and the Chicago Tribune. A division of Compaq Computer Corporation brought Zip2 Corporation for $307 million.
Elon Musk-PayPal
Paypal Logo
His next step to fame was introducing X.com, which later became PayPal. He worked with Kimbal Musk and the brothers used the money received from the sale of Zip2 to set up X.com in 1999. X.com (PayPal) was an online financial services and payments company. Acquisition by another domain of the same name lead to a name change and the company was renamed to PayPal. Elon’s net worth saw a steep rise in 2002 when PayPal was acquired by the giant eBay for $1.5 billion.
Elon Musk-Space X
space X Logo
The name Space X will be forever associated with Elon Musk. Space X stands for Space Exploration Technologies Corporation. Space X was launched in 2002 with the intention of exploring the outer world for commercial purposes. The rise of Space X wasn’t linear, there were many obstacles in the path. Numerous rocket failures during launch plagued a smooth sail. The invention of Space robots and much more space equipment made headlines all around the world. In the year 2008, when Space X had cemented its reputation, NASA awarded the company a contract to handle cargo transport for the International Space station. This move was made to replace NASA’s own space shuttle missions.
2012 was a grand year for Musk and Space X when the Falcon 9 rocket was launched into space. Falcon 9 was sent to the International Space Station with 1,000 pounds of supplies and extra backup for the astronauts. This was a significant synergy as a private company was collaborating with the International Space Station. A successful attempt to carry a satellite into the geosynchronous orbit was achieved by Falcon 9. It was a landmark achievement since this was a distance at which the satellite would lock into an orbital path matching the earth’s rotation.
There were more successful attempts by Space X to revolutionize the spacecraft industry and recently, they launched a batch of 60 rockets into space which was followed by another batch of the same size in November 2019.
Safe to say, mankind wouldn’t have seen such rapid achievements in a decade had it not been for Elon Musk.
Elon Musk-Tesla Motors
Tesla Logo
The automotive industry is another domain Elon Musk has established his dominance in. Elon is the co-founder, CEO and product architect at Tesla Motors. Tesla Motors was founded in 2003. This company develops affordable and eco-friendly mass-electric cars and battery products.
The unveiling of the iconic Roadster in 2008 was a milestone for Tesla. Roadster can accelerate from 0 to 60 mph in just 3.7 seconds and has upset many sports cars brands that were unchallenged till now.
Model S, the company’s first electric Sedan was another offering that took the industry by storm. Model S was awarded the 2013 Car of The Year award due to its capability to cover 265 miles between consecutive charges.
Elon Musk-The Boring Company
The Boring Company Logo
The most recent offering by Elon Musk is The Boring Company that was launched in 2017. This company is devoted to boring and building tunnels to ease traffic. The foundation of The Boring Company was laid by a test dig on the Space X property in Los Angeles.
In 2019, the company received a $48.7 million contract from the Las Vegas Convention and Visitors Authority to build an underground loop.
Achieving multimillionaire status and envy worthy success in mid 20s is no less than legendary. At the age when children spend most of their time mugging up science theories, Elon Musk had created his own software. With the wish to work for the betterment of humanity, Elon has already garnered a dedicated following. While most billionaires indulge is philanthropy for publicity, Elon Musk has his sights set on doing noteworthy deeds that would be remembered for generations to come. The kind of inventions Elon Musk is coming up with makes him a real life Tony Stark!
Elon Musk – FAQs
Who is the richest person in world?
Elon Musk is among the top ten richest people in the world as of March 2021.
When was Elon Musk born?
Elon Musk was born on June 28, 1971.
What is net worth of Elon Musk?
Elon Musk has a net worth of $176.4 billion dollars.
What is the Education of Elon Musk?
Elon Musk is a graduate in 1997 with a Bachelor of Science and Bachelor of Arts from the University of Pennsylvania.
What is the Elon Musk age?
Elon Musk is 49 years as of April 2021.
Why is Elon Musk so famous.?
At the age when children spend most of their time mugging up science theories, Elon Musk had created his own software. Elon Musk came to the limelight in May 2012, after his founded company SpaceX launched a rocket that would send the first commercial vehicle to the International Space Station.
Twitter is moving beyond the traditional social networking business model and is experimenting with new business model to sustain their platform. The latest test is a subscription service for exclusive features.
Twitter is considering a subscription model to counteract its falling ad revenues. CEO Jack Dorsey said subscriptions are just one of several ways the company is looking to boost income from users.
Twitter has had a meteoric growth as a popular microblogging platform with its quirks. Several celebrities like Elon Musk, Donald Trump and Kangana Ranaut use this platform to post controversial thoughts quickly picked up by the audience.
A subscription model could offer a new source of revenue for Twitter. By charging some of its 353 million users in the US and others elsewhere to access extra features such as more followers or enhanced analytics. It would also mark Twitter’s most significant departure from its core advertising business model when it is struggling to attract advertisers.
The company has suffered a sharp decline in its ad revenue in recent quarters as it works to grow beyond its stagnant user base. The majority of the revenue share came from the targeted advertising model that this platform offered. In 2021, Twitter is looking to move away from revenue dependency on brand-oriented advertising approach.
How will Twitter’s new Subscription Model look like
Twitter launched a survey among users last year in July 2020 to analyze the interest levels.
After CEO Jack Dorsey confirmed Twitter is exploring a subscription model, the company is conducting user surveys on what type of features they'd like to see in such a service.
Undo send, special badges for profiles and advanced analytics are among the features being considered. pic.twitter.com/hL6T8sdI0s
These are the potential features that are likely to be provided to the premium Twitter users in 2021.
1. Undo Send
Post something really embarrassing accidentally on Twitter? No problem. This feature helps you delete your Tweet before anyone even sees it, all within 30 seconds of posting. The premium Undo event on Twitter is a simple way to recall or withdraw a tweet, so it never gets seen by anyone.
2. Custom Colors
Change the feel and look of Twitter – adapt it to suit your style. In addition to Night Mode, the premium feature allows you to change your default background color and other critical elements in your interface. The new custom color setting gives you more control over the appearance of Twitter on your phone or computer.
3. Video Publishing
Twitter currently limits uploaded video size to 140 seconds or 6 MB for most users. With a premium subscription, you could publish videos 5x longer than the current default settings (i.e. 5 minutes), and use a much higher maximum resolution (8192×8192) for each frame within the video.
4. Badges
Twitter Badge helps users learn more about the people they follow on Twitter. The badge shows users the businesses a user writes for or owns. It’s just another way for people to discover others and get to know them better. It also helps maintain a credible brand presence.
5. Auto Responses
Auto-response in the premium version of Twitter helps you come up with tweets that can increase your following. This is done through a menu of auto-responses to use in the direct messages to Twitter netizens. When Twitter detects a matching phrase, it will send out an automated reply.
6. Social Listening
See how often your brand is mentioned on Twitter and get a deeper understanding of what people are saying with the new social listening tool. This tool lets you see the general conversation around a brand, including total volume seen through the social search function, and which users or businesses are talking most often.
7. Brand Surveys
Create surveys and polls to collect feedback about your Twitter Ads campaigns. This insight can help you measure your campaigns effectiveness, understand if your audience is likely to buy the products or services featured in your ad, and optimise future creatives.
8. Freedom from Ads
Enjoy premium Twitter with a different kind of streaming experience. Say goodbye to ads; say hello to a whole new look and feel without the distractions of promoted tweets. Have your data protected from advertisers and upgrade the privacy options.
Disclaimer: “This is not necessarily reflective of Twitter’s future subscription model, and will change at the discretion of Twitter’s management. The survey is the current source of official information.”
Twitter Revenue
Will the Subscription Model impact Twitter’s growth
There has been a general resistance against paid social media networks in general. A Washington Poll in 2018 revealed that fifty-eight percent of the respondents wouldn’t pay for Facebook if it adopted a paid network model. The same would go true for Twitter. However, Twitter has always emphasized that they would not ask the users to pay for the current features they enjoy.
The most important thing to remember is that Twitter must be a zero-sum game. For users who are not paying for access, there can’t be any knock-on effect of paid Twitter users keeping content to themselves.
Twitter is a model that depends on users, not mouse clicks. It’s the connective tissue between friends and strangers, emphasizing broadcast v/s a one-way conversation (social media has been big on one-way communication).
FAQ
How does Twitter make money?
Twitter earns its revenue from Data licensing and Advertisements.
What is Twitter’s net worth?
As of Oct, 2020 Twitters revenue was nearly $40 billion.
Who is the CEO of Twitter?
Jack Dorsey is currently the CEO of Twitter.
Conclusion
An exclusive Twitter subscription model could be just what the company needs to make money and keep customers privacy intact. In this world, where our activity across social media platforms is monitored, Twitter can offer a premium social network to eliminate our privacy concerns.
Souvik Dey
