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SpaceX’s Success Catapulted Musk To The Top Of The World’s Richest

by THEFUTURE.TEAM

June 8, 2024

New success for Elon Musk’s company SpaceX has once again shot the owner of Tesla to the top spot in the ranking of the richest people in the world. Musk returned to the top spot after his artificial intelligence startup xAI raised $6 billion in a funding round, but within hours he lost his crown to Bernard Arnault.

KEY FACTS

A little over $3 billion. That is the difference between Elon Musk and Bernard Arnault, who occupy the first two positions in the ranking of the richest people in the world.
The Tesla owner briefly lost the crown he regained just about a week ago but has regained his position after his space company SpaceX scored a resounding success on its fourth consecutive Starship test.
The goal was to bring the upper part of the rocket back into the atmosphere in a controlled manner and then detach it in the Indian Ocean.
For the first time, all elements of a new orbital transport system have returned to Earth after flight, after the rocket failed to survive the high temperatures of re-entry on its previous attempt just a few months ago.
The success of SpaceX has brought Musk enough income that, according to Forbes, his wealth is currently equal to 210.2 billion dollars. The owner of Louis Vuitton, Bernard Arnault, can boast of a fortune of 207.5 billion dollars.

KEY STORY

The mission is a key step for future astronaut trips to Mars. Musk and his company SpaceX are working on a fast orbital rocket system that would be the first in the world.

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The challenge is precisely the speed and altitude at which the Starship ascends, resulting in high temperatures when it re-enters the atmosphere.

If SpaceX engineers succeed in perfecting the Starship, it will be revolutionary. The 33 engines at its core produce 74 meganewtons of thrust. For comparison, NASA’s Space Launch System produces 39 meganewtons when it takes off from the pad, and that’s over 20% higher.

This capability, along with the altitude that can launch more than a hundred tons into orbit at once, will radically reduce the cost of space activity and make new types of activities possible.

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Competition Authority Launches Comprehensive Review of ExxonMobil Cyprus Acquisition

by THEFUTURE.TEAM

September 16, 2025

Investigation Initiated Over Strategic Acquisition

The Competition Protection Authority has commenced a thorough investigation into the acquisition of ExxonMobil Cyprus Limited’s share capital by Petrolina Holdings Public Ltd through Med Energywise Ltd. This inquiry was formally initiated following a session held on 10 September 2025, after an in-depth review of the pertinent report by the Authority’s Service.

Concerns Over Market Compatibility

Authorities have expressed serious concerns regarding the compatibility of the transaction with established competitive practices. The review indicates that the acquisition may affect several critical petroleum markets, both horizontally and vertically, thereby raising the potential for adverse impacts on market dynamics.

Horizontal Market Dynamics

On the horizontal front, potential effects have been identified in the import market for petroleum products, as well as in both wholesale and retail distribution channels of these products. The consolidation is believed to increase the risk of price rises and coordinated actions, given the direct competitive proximity between Petrolina and ExxonMobil.

Vertical and Adjacent Market Implications

Vertical aspects of the merger are also under close scrutiny. The new entity could restrict competitors’ access to critical infrastructure such as storage facilities, supply channels, and customer bases. These restrictions could further affect the onshore distribution of fuels, the wholesale market for lubricants, and specialized technical services connected with fuel station operations.

Local Market Considerations

Particular attention is being paid to the potential concentration in the retail fuel market. The investigation suggests that a reduced competitive landscape within a four-kilometer radius of the companies’ fuel stations could lead to diminished local competition, adversely impacting consumer prices and options.

Next Steps and Industry Impact

The Competition Protection Authority, which reached a unanimous decision to pursue a full investigation, remains open to submissions from parties that might be affected by this transaction, as mandated by current legislation. A final decision is expected within four months upon receipt of all necessary evidence, potentially setting a significant precedent for future market consolidation cases in the energy sector.