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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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Electric Vehicle Subsidies in Cyprus: Urgent Calls for Government Action

by News Editor

May 9, 2025

The Motor Vehicle Importers and Electric Vehicle Association (Semio) has urgently called upon the Transport Ministry for immediate action concerning the ongoing hurdles with electric vehicle (EV) subsidies in Cyprus.

Semio expresses its concern, warning that any further delays could exacerbate financial strain on its members and heighten consumer dissatisfaction. A formal meeting with the Transport Minister is on the agenda to clarify the government’s position on the subsidy program.

Uncertainties and Impacts

The sudden stop of the EV grant scheme has stirred worry among car importers and potential buyers, leaving stockpiles of electric vehicles in limbo. This unexpected pause in government-backed support has echoed across the industry, with numerous consumer complaints surfacing.

Amid these events, there’s also the broader backdrop of the Cyprus government’s decision to reallocate funds within the national Recovery and Resilience Plan (RRP), aiming to stay aligned with EU financing requirements.

A Call for Dialogue

Despite the ministry’s assurances of pursuing additional funding and maintaining alignment with national energy objectives, Semio criticizes the lack of communication and urges consultation before implementing changes.

On a related note, Cyprus faces challenges in achieving its ambitious EU-mandated goal of registering 80,000 electric vehicles by 2030. The road ahead appears daunting unless a cohesive strategy is adopted.