Elon Musk – Newswire https://www.newswire.lk Sri Lanka's largest News aggregator Thu, 15 Jan 2026 04:58:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.8 https://www.newswire.lk/wp-content/uploads/2020/05/favicon.png Elon Musk – Newswire https://www.newswire.lk 32 32 Musk’s X to block Grok AI from creating sexualized images of real people https://www.newswire.lk/2026/01/15/musks-x-to-block-grok-ai-from-creating-sexualized-images-of-real-people/ Thu, 15 Jan 2026 04:58:13 +0000 https://www.newswire.lk/?p=219181

Elon Musk’s xAI has announced it will block the ability of its Grok AI tool to alter images of realContinue Reading

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Elon Musk’s xAI has announced it will block the ability of its Grok AI tool to alter images of real people to put them in “revealing clothing such as bikinis”, amid a global backlash over the tool being used to generate explicit imagery.

The move came just hours after the billionaire said he was was not aware of any “naked underage images” made by Grok.

Scrutiny of Grok has intensified worldwide, with some people using it to digitally undress women and children without their consent and posting those images to X. Thousands of these sexualized AI images have inundated X over the last few weeks. xAI, which makes Grok, also owns X – both are run by Musk.

“This adds an extra layer of protection by helping to ensure that individuals who attempt to abuse the Grok account to violate the law or our policies can be held accountable,” the company posted on X on Wednesday evening. It also said that it has “zero tolerance for any forms of child sexual exploitation, non-consensual nudity, and unwanted sexual content”.

The changes X announced on Wednesday will apply to all users on the social media platform, even paying subscribers, the company said. X did not specify, however, whether people would still be able to create such images on the standalone Grok app.

Earlier on Wednesday, Musk wrote in a post on X: “I [sic] not aware of any naked underage images generated by Grok. Literally zero.” Musk’s xAI and X have faced growing backlash globally, including an investigation by California’s attorney general and calls by lawmakers and advocacy groups for Apple and Google to drop Grok from app stores. UK regulators have also launched an investigation, and countries including Malaysia and Indonesia have instigated bans or legal action .

Musk has said that Grok was programmed to refuse illegal requests and must comply with the laws of any given country or state.

“Obviously, Grok does not spontaneously generate images. It does so only according to user requests,” Musk said on Wednesday.

Musk has said earlier on X that anyone using Grok to make illegal content would suffer the same consequences as if they uploaded illegal content.

Three Democratic US senators last week called on Apple and Alphabet’s Google to remove X and its built-in AI tool Grok from their app stores, citing the spread of nonconsensual sexual images of women and minors on the platform.

A coalition of women’s groups, tech watchdogs and progressive activists also called on the tech giants for a similar move.

Last week, X curtailed Grok’s ability to generate or edit images publicly for users who weren’t paying subscribers. However, industry experts and watchdogs have said that Grok was still able to produce sexually explicit images, and that restrictions, such as paywalling certain features, may not fully block access to deeper AI image tools.

In the UK, the law is set to change this week to criminalize the creation of such images, and the prime minister, Keir Starmer, said on Wednesday that X was working to comply with the new rules. Communications regulator Ofcom is investigating the AI tool.

X and xAI did not return request for comment. (The Guardian)

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“Saving for retirement will be irrelevant in the next 20 years” – Elon Musk https://www.newswire.lk/2026/01/13/saving-for-retirement-will-be-irrelevant-in-the-next-20-years-elon-musk/ Tue, 13 Jan 2026 03:43:35 +0000 https://www.newswire.lk/?p=218805

Saving for retirement has been a cornerstone of personal finance for well over a century. It could become pointless soon,Continue Reading

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Saving for retirement has been a cornerstone of personal finance for well over a century. It could become pointless soon, Elon Musk says.

“One side recommendation I have is: Don’t worry about squirreling money away for retirement in 10 or 20 years,” the Tesla and SpaceX CEO said during the latest episode of the “Moonshots with Peter Diamandis” podcast. “It won’t matter.”

“If any of the things that we’ve said are true, saving for retirement will be irrelevant,” Musk added.

The world’s richest man, whose net worth exceeds $600 billion, described a future where advances in AI, energy, and robotics supercharge productivity, creating an “abundance” of resources that would allow everyone to be granted a “universal high income.”

The “good future is anyone can have whatever stuff they want,” Musk said. That would mean “better medical care than anyone has today, available for everyone within five years,” he continued. “No scarcity of goods and services. You can learn anything you want about anything for free.”

However, the serial entrepreneur warned of a “bumpy” transition to this utopian world, marked by jarring change and social unrest. He also flagged a potential loss of purpose.

“Now, if you actually get all the stuff you want, is that actually the future you want?” he asked. ‘”Because it means that your job won’t matter.”

Musk is known for transforming the auto sector with Tesla’s electric vehicles, and revolutionizing the aerospace industry with SpaceX’s reusable rockets.

His companies are developing self-driving cars, humanoid robots, brain-computer interfaces, AI assistants, and other innovations as he paves his way to becoming the first trillionaire in history.

Despite his track record, Musk’s latest prediction clashes hard with the reality faced by many Americans. Years of stubborn inflation, elevated interest rates, and anemic wage growth have created an affordability crisis.

Millions of people feel priced out of getting a college degree, accessing quality healthcare, owning a home, or having children. A comfortable retirement also feels out of reach, with surveys showing the majority of Americans aren’t saving nearly enough.

Against that backdrop, Musk’s blue-sky vision of an abundant future may seem like wishful thinking — or even dangerous advice if it leads people to stop saving, but the world doesn’t change as he expects, leaving them short in retirement. (Business Insider)

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Tesla shareholders approve Elon Musk’s $1 trillion pay package https://www.newswire.lk/2025/11/07/tesla-shareholders-approve-elon-musks-1-trillion-pay-package/ Fri, 07 Nov 2025 06:50:55 +0000 https://www.newswire.lk/?p=209635

Tesla shareholders approved a pay package on Thursday that could make CEO Elon Musk, already the world’s richest person, theContinue Reading

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Tesla shareholders approved a pay package on Thursday that could make CEO Elon Musk, already the world’s richest person, the world’s first trillionaire.

Tesla announced that more than 75% of shares voted in favor of the pay package during the company’s annual shareholder meeting. The vote didn’t include the 15% of the company that Musk already owns.

The crowd at the meeting broke into cheers and chants when the results were announced. Musk thanked the shareholders and the Tesla board soon after. “I super appreciate it,” he said.

Musk doesn’t take any salary, but the approved pay package comes in the form of a stock grant that would give him as much as 423.7 million additional Tesla shares over the next 10 years.

Those shares could be worth about $1 trillion, assuming the company reaches the $8.5 trillion market cap needed to have Musk qualify for the full potential payout. In addition, Tesla needs to achieve a series of either operational or financial targets for him to get the full number of shares, which would be distributed in 12 equal blocks.

Getting all the shares available under this package over the next 10 years would be the equivalent of earning $275 million a day, dwarfing any other executive pay package in history.

Lofty targets for stock growth

For Tesla to reach the $8.5 trillion in market value needed, shares need to jump 466% from today’s stock price. That’s also about 70% higher than the world’s most valuable company, Nvidia, which hit a record $5 trillion market cap last week.

Musk is already worth an estimated $473 billion according to Bloomberg’s billionaire tracker, most due to his holdings in Tesla, as well as the other companies he controls, including SpaceX and xAI.

A vote to reject the pay package Thursday could have meant his exit from Tesla’s CEO office. Tesla’s board said in a filing that Musk had raised the possibility of leaving the company if he didn’t get the assurances of control that the pay package could grant him.

However, the company has had a rocky year. Sales and profits plunged in the first half and Tesla faces potential billions in lost revenue due to reduced US government support for electric vehicles.

A future bet on robots and AI

But Musk and Tesla executives dismiss those problems, saying Tesla is shifting focus from merely selling EVs to selling self-driving cars, including a fleet of “robotaxis,” as well as humanoid robots.

In his remarks to shareholders, Musk spoke more about robots, which have yet to go on sale, than he did about the company’s cars. Most of his references to cars were about its so-called full self-driving (FSD), a driver assistance feature that still requires drivers to stay alert and ready to take control of the cars.

But Musk said the robots will be bigger than the company’s car business – or any other business, even.

“I think it’s going to be the biggest product of all time by far,” he said. “So like bigger than cell phones, bigger than anything. I guess a way to think about it is that every human on Earth is going to want to have their own personal R2D2 or C3PO.”

He even predicted Tesla’s robots could replace surgeons, lead to the end of global poverty and re-shape the global economic order. He claims they could be produced for $20,000 each, allowing the company to sell them for about the price of a car.

Still, those products and concepts are still under development and haven’t gone on sale. That means even with the passage of the pay package, it’s not certain that Musk will ever see any of its potential hundreds of millions of shares. He will need to straighten out the company’s current problems and then live up to the big promises that he’s made for the future.

Musk has insisted he needs the additional shares to have more control over the company, not because he wants so much more wealth.

“It’s not like I’m going to go spend the money,” Musk said on a call with investors last month. “There needs to be enough voting control to give (me) a strong influence – but not so much that I can’t be fired if I go insane.” (CNN)

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Starlink in Sri Lanka: Breaking Internet Barriers https://www.newswire.lk/business/starlink-in-sri-lanka-breaking-internet-barriers/ Wed, 09 Jul 2025 09:16:14 +0000 https://www.newswire.lk/?p=194393

Starlink, the satellite internet service developed by SpaceX, has officially launched in Sri Lanka. Unlike traditional internet systems that relyContinue Reading

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Starlink, the satellite internet service developed by SpaceX, has officially launched in Sri Lanka. Unlike traditional internet systems that rely on cables or large satellites positioned high above the Earth, Starlink uses a constellation of low-Earth orbit (LEO) satellites that sit just 550 km above the surface. This allows Starlink to offer faster internet speeds and much lower latency, making it ideal for rural, remote, and underserved areas.

Currently, Starlink operates with approximately 5,000 satellites in space, and plans to grow the network to over 12,000 in the near future. For a country like Sri Lanka, which spans about 65,000 km², it’s estimated that around 200 to 300 satellites will be visible at any time to ensure smooth and consistent coverage.

 

Hardware & Monthly Costs

Plan Type Hardware Cost Monthly Fee Data & Speed Notes
Residential Lite LKR 118,000 LKR 9,200 Unlimited (lower priority) Slower speeds during peak times
Residential LKR 118,000 LKR 15,000 Unlimited (priority access) Best for consistent high-speed usage
Roam – 50GB LKR 118,000 LKR 15,000 50 GB (then pay-per-GB) Portable usage across countries
Roam – Unlimited LKR 118,000 LKR 27,000 Unlimited roaming data Ideal for travel and mobile setups
Business – Fixed Site LKR 615,000 (USD ~$1,850) LKR 67,000 40–220 Mbps (Priority data tiers) Reliable for offices, remote sites
Business – Mobility LKR 615,000 LKR 112,000 40–220 Mbps (on-the-move) For use in moving vehicles or portable use
Business – Maritime LKR 3.3 million+ (USD ~$10,000) LKR 558,000+ Up to 220 Mbps For vessels, yachts, and offshore use

 

Roam Plans: Internet While You Travel

Starlink’s Roam Plans are designed for customers who need reliable internet while on the move whether they’re traveling across the island, camping in remote areas, or boating near the coast. With the Roam – 50GB plan, users get a monthly allowance of 50GB for LKR 15,000 and can top up additional data as needed. Meanwhile, the Roam – Unlimited plan, priced at LKR 27,000/month, allows for unlimited global coverage, making it perfect for people frequently moving across borders or working in mobile environments.

The unique feature of Roam is its portability. Unlike traditional home internet services tied to a fixed location, Roam allows the dish to be taken anywhere, as long as there’s an open view of the sky. Whether you’re in the mountains, at the beach, or on the road, Roam provides strong internet access without the need for cables or mobile signals.

 

Business Plans: Built for Enterprises

Starlink also provides enterprise-level solutions for companies that demand stable, high-speed internet in challenging environments. The Fixed Site plan is ideal for businesses located in remote areas, large estates, construction sites, or places where fibre connectivity is unavailable. This plan offers speeds ranging from 150–500 Mbps, depending on the data tier selected.

For businesses on the move, such as media crews, logistics operations, or tourism-based companies, the Land Mobility plan ensures continuous connectivity while traveling. The Maritime plan, designed for ships and offshore operations, delivers reliable internet even in open seas. Though the Maritime option has higher hardware and subscription costs, it guarantees seamless coverage for vessels and floating platforms where no other internet options exist.

All business plans come with high-performance antennas, weather resistance, and advanced satellite switching capabilities. Monthly pricing starts from around LKR 67,000, and hardware upgrades are included to support intense operational needs.

 

What Happens When It Rains?

One common concern in Sri Lanka is the performance of satellite internet during rainy weather, especially during the heavy monsoon seasons. While satellite signals can be disrupted by dense rain clouds a phenomenon known as “rain fade” Starlink has designed its hardware to minimize these effects.

The terminals are fully weather-resistant, equipped with built-in heaters that can melt snow and prevent moisture build-up. They also perform well in wind and sleet. In most cases, even during bad weather, users may experience a minor slowdown, but the connection typically holds and recovers quickly. For the average user, especially in urban and semi-urban Sri Lanka, this impact will be minimal.

 

Key Things Sri Lankan Users Should Know

For the best experience with Starlink, users should ensure the dish is installed in an area with an unobstructed view of the sky no trees, walls, or large structures in the way. Obstructions can affect signal quality, especially since satellites are constantly moving overhead.

Users on the Residential Lite plan may notice slower speeds during peak times when the network prioritizes full-plan users. For general browsing or light streaming, the Lite plan is still a great option. However, for heavy internet usage such as gaming, video conferencing, or 4K streaming, the Residential plan is strongly recommended.

The Roam plans are especially useful for frequent travelers within Sri Lanka or abroad, offering connectivity without worrying about SIM cards or mobile data limits.

For organizations, Starlink Business plans offer unmatched reliability in areas with poor coverage or no infrastructure. Whether you’re managing an estate, running a hotel in a remote area, or operating an offshore project, Starlink provides a high-speed internet solution where traditional methods fall short.

Starlink officially launched in Sri Lanka in July 2025, and local resellers, tech support, and delivery services are gradually expanding.

 

Starlink represents a major leap forward for Sri Lanka’s connectivity landscape. From the highlands of Nuwara Eliya to the coastal communities in the Eastern Province, it delivers high-speed, low-latency internet where fibre optics and 4G signals may not reach. Whether you’re a student, a digital nomad, a business owner, or simply looking for reliable internet in a rural setting, Starlink opens a new frontier in digital access.

While users must factor in initial hardware costs and occasional limitations during extreme weather, the advantages far outweigh the drawbacks. With its cutting-edge technology, self-installation ease, and expanding satellite fleet, Starlink is set to transform the way Sri Lankans connect, work, learn, and thrive in the digital age.

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“Starlink now available in Sri Lanka”- Elon Musk https://www.newswire.lk/2025/07/02/starlink-now-available-in-sri-lanka-elon-musk/ Wed, 02 Jul 2025 06:38:02 +0000 https://www.newswire.lk/?p=193489

Billionaire businessman Elon Musk has announced that Starlink, the satellite internet service owned by him, is now available in SriContinue Reading

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Billionaire businessman Elon Musk has announced that Starlink, the satellite internet service owned by him, is now available in Sri Lanka. 

“Starlink now available in Sri Lanka!” Elon Musk said in a post on ‘X’.

Starlink received regulatory approval in August 2024, following an amendment to Sri Lanka’s telecommunications law to permit satellite-based internet services.

Last week, Deputy Minister of Digital Economy, Eranga Weerarathne, said that a pilot project on Starlink, using 10 devices, was already underway.  

According to Starlink’s website, the residential package for Sri Lanka is priced at Rs. 15,000 per month, with an additional cost of Rs. 118,000 for the required hardware. The package offers unlimited satellite internet, though it is unclear whether taxes are included.

Starlink is operated by SpaceX and provides high-speed internet using thousands of low Earth orbit satellites. The service is especially useful in remote and rural areas where traditional fibre connections are unavailable. It is currently active in nearly 100 countries. (Newswire)

 

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“One call from Ranil to Elon Musk could have reduced US Tax” https://www.newswire.lk/2025/04/09/one-call-from-ranil-to-elon-musk-could-have-reduced-us-tax/ Wed, 09 Apr 2025 09:16:16 +0000 http://www.newswire.lk/?p=182566

Former Minister Rajitha Senaratne says if Ranil Wickremesinghe was still serving as the President, Sri Lanka could have had aContinue Reading

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Former Minister Rajitha Senaratne says if Ranil Wickremesinghe was still serving as the President, Sri Lanka could have had a chance to remove the 44% tariff imposed on Lankan exports to the US through a single phone call.

Speaking during an interview with a YouTube channel, the former minister claimed that the tariff had been imposed during the Trump administration on the advice of billionaire entrepreneur Elon Musk.

He further stated that Elon Musk is one of the closest friends of former President Ranil Wickremesinghe and that the strong friendship could have been used to negotiate relief for Sri Lankan exporters.

Rajitha Senaratne stressed that Sri Lanka lost that opportunity since Wickremesinghe is no longer the President. 

He added that even if the 44% tax could not have been fully removed, it could have at least been reduced to around 24% if Wickremesinghe had remained in office. (Newswire)

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Elon Musk’s X sues Indian Govt in censorship battle https://www.newswire.lk/2025/03/21/elon-musks-x-sues-indian-govt-in-censorship-battle/ Fri, 21 Mar 2025 04:29:54 +0000 http://www.newswire.lk/?p=179885

Elon Musk‘s social network X filed a lawsuit against the Indian government, arguing that the country’s IT Ministry has unlawfullyContinue Reading

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Elon Musk‘s social network X filed a lawsuit against the Indian government, arguing that the country’s IT Ministry has unlawfully expanded its censorship powers to allow the easier removal of online content.

In the court filing dated March 5 but only reported by media on Thursday, the social network alleged that the Indian IT Ministry has asked other departments to use a government-run website to issuecontent-blockingg orders.

Why is Musk’s X suing the Indian government?

X argued the website, launched by the Indian Ministry of Home Affairs last year, was not subject to the stringent Indian legal safeguards that previously only allowed content removal orders to be issued by top officials and in cases deemed to threaten public order or state sovereignty.

The website creates “an impermissible parallel mechanism” that causes “unrestrained censorship of information in India,” the social network claimed.

The Indian government is yet to comment.

The case was briefly heard earlier this week in the High Court of India’s southern Karnataka state but no final decision was reached. It will now be heard on March 27.

Musk wants to roll out Starlink and Tesla in India

The lawsuit marks an escalation in an ongoing legal dispute between X and Indian Prime Minister Narendra Modi‘s government over how the country polices online content. It also comes as Musk prepares to launch Starlink and Tesla in India.

Musk has reached agreements with two of India’s largest telecommunications providers Jio and Bharti Airtel, to role out Starlink broadband across the country but the company still requires government authorization.

The dispute also coincides with threats by US President Donald Trump, to whom Musk acts as a senior adviser, to impose tariffs on Indian goods.

“I believe they’re going to probably be lowering those tariffs substantially. But on April 2, we will be charging them the same tariffs they charge us,” Trump told the American far-right Breitbart news network, calling India “one of the highest tariffing nations in the world.”

Back in 2021, X, then known as Twitter, was at loggerheads with the Indian government after refusing to comply with legal orders to block certain posts related to farmers’ protests. (DW)

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Elon Musk’s DOGE terminates key Sri Lanka project https://www.newswire.lk/2025/02/13/elon-musks-doge-terminates-key-sri-lanka-project/ Thu, 13 Feb 2025 06:15:07 +0000 http://www.newswire.lk/?p=174843

Billionaire businessman Elon Musk’s Department of Government Efficiency (DOGE) has terminated a number of projects it deemed wasteful, including aContinue Reading

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Billionaire businessman Elon Musk’s Department of Government Efficiency (DOGE) has terminated a number of projects it deemed wasteful, including a climate adaption project in Sri Lanka.

In a post published on ‘X’, the Department named two projects that were cancelled out of 199.

“Great coordination across 35 agencies over the last two days to terminate 199 wasteful contracts saving ~$250mm, including:

-Contract for “Asia Pacific – Sri Lanka climate change mitigation adaption and resilience coordinator services for forest service”

-Workshop for “Intercultural communication diversity dialogue circle communicating across differences”, the post said.

‘Climate alarmism’ is one of the areas Musk hopes to fight through his Department, which he says will cut wasteful expenditure from government agencies. (Newswire)

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Elon Musk changes his name on X https://www.newswire.lk/2025/01/01/elon-musk-changes-his-name-on-x/ Wed, 01 Jan 2025 05:55:16 +0000 http://www.newswire.lk/?p=169360

Elon Musk bizarrely changed his X profile name to “Kekius Maximus” on Tuesday — sparking a flood of questions fromContinue Reading

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Elon Musk bizarrely changed his X profile name to “Kekius Maximus” on Tuesday — sparking a flood of questions from supporters and critics alike.

The world’s richest man, who boasts nearly 210 million followers on the platform he has owned since 2022, also switched up his profile avatar to feature an image of the popular Pepe the Frog character clad in gladiator-like armor.

Musk, a confidant of President-elect Donald Trump, has yet to offer a full explanation for his sudden name change.

But there are a few hints.

Elon watchers online have suggested that the new moniker is a bizarre combination of Pepe the Frog and Russell Crowe’s character, Maximus Decimus Meridius, in the 2000 blockbuster “Gladiator.”

Musk’s new profile image shows Pepe the Frog clad in golden armor while holding a video game controller.

Pepe, which started off as simply a cartoon in the “Boy’s Club” comic series, allegedly became associated online with white supremacists and the alt-right during the 2016 presidential election.

The Anti-Defamation League dubbed the character a hate symbol and described it as the “Alt Right’s favorite meme.”

However, Musk and many others who are chronically online have always rejected those claims.

A link to gaming?

The Tesla founder teased his handle change in a post on X on Tuesday, writing: “Kekius Maximus will soon reach level 80 in hardcore PoE.”

PoE is an apparent reference to the popular “Path of Exile 2” video game, which Musk is known to play.

Connection to cryptocurrency?

Kekius Maximus is also the name of a “memecoin” — a cryptocurrency based on a popular online meme.

Musk has previously caused massive ripple effects in the crypto market with his social media antics — notably with the dogecoin.

In the wake of Musk’s handle change, the Kekius Maximus crypto’s value soared by more than 900% as of Tuesday afternoon, according to the CoinGecko site.

It wasn’t immediately clear, though, if Musk — who has previously shown support for memecoins — has anything to do with Kekius Maximus specifically.

Speculation of a burner account

Many have speculated online, too, that Musk’s motive is rooted in claims that he is running a burner super-fan account.

Internet sleuths have been suggesting that the Space X CEO is behind an account — operating under the name Adrian Dittmann — that heaps praise on him.

Musk has denied being Dittmann — and mocked people who claimed he’s operating the alt account.

Deepening the mystery, Dittmann appears to be a character who operates only on X — there is almost no evidence of a person with that name operating outside the social media platform.

Musk added fuel to the fire by retweeting a post from the Dittmann account on Tuesday that mentioned the Kekius Maximus saga.

“Imagine you’re a journalist writing about Elon on X and it goes: ‘Elon Musk, aka Kekius Maximus, on X…,’” the Dittmann post read. (NY Post)

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Elon Musk is now the world’s richest person ever in history https://www.newswire.lk/2024/11/24/elon-musk-is-now-the-worlds-richest-person-ever-in-history/ Sun, 24 Nov 2024 06:02:22 +0000 http://www.newswire.lk/?p=165838

Tesla CEO Elon Musk is officially the richest he’s ever been (and the wealthiest person ever) with a net worthContinue Reading

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Tesla CEO Elon Musk is officially the richest he’s ever been (and the wealthiest person ever) with a net worth of $334.3 billion, according to Forbes. 

The planet’s richest person grew much richer as shares of the Musk-led publicly traded electric vehicle company Tesla soared after Donald Trump’s win in the US election. 

Musk was the biggest supporter of Trump during the election campaign, even taking part in some of his rallies. He has been appointed chair of the new “Department of Government Efficiency” (DOGE), where he will work alongside Vivek Ramaswamy.

According to Forbes, the net worth of Elon Musk was a record $321.7 billion at market close Friday, November 22, getting a $7 billion boost as Tesla stock climbed 3.8% to a new 3.5-year closing high of $352.56 per share. That eclipses the previous high of $320.3 billion set on November 5, 2021 amid Tesla’s pandemic era surge.

Musk’s net worth is now more than $80 billion richer than the next wealthiest person, his friend and Oracle chairman Larry Ellison at $235 billion. Much of Musk’s fortune comes from his 13% stake in Tesla worth $145 billion, with another 9% equity award in the company pending an appeal in Delaware court (Forbes discounts the value of the award by 50% in its valuation of Musk wealth).

Elon Musk’s net worth now $70 billion higher

The substantial valuation of Musk’s AI company xAI, valued at $50 billion, has further contributed to his wealth. SpaceX, valued at $210 billion, also plays a significant role in Musk’s overall net worth.

With this, Musk’s fortune is now about $70 billion larger than it was on Election Day as Tesla shares surged 40% as Wall Street bought into what should be a more friendly regulatory environment under Trump for Tesla, especially for its self-driving vehicles, as per Forbes.

How Elon Musk became the richest person again

Elon Musk’s close ties with president-elect Donald Trump have fuelled investor confidence. Wall Street analysts view the incoming administration’s anticipated deregulation efforts as a significant advantage for Tesla, particularly for its Full Self-Driving initiatives, which have faced regulatory scrutiny.

The other primary source of Musk’s fortune is his 42% stake in SpaceX, which was valued at $210 billion in a June tender offer, putting his stake in the private aerospace and satellite communications company at $88 billion. Speculation around SpaceX’s upcoming funding round, which could value the company at $250 billion, suggests that Musk’s net worth might climb even higher, potentially adding $18 billion to his fortune.

There’s still some more way to go

However, despite this historic rise in fortune, there still may be some more way to go as Tesla shares still remain about 14 per cent below their all-time high from late 2021. (TOI)

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New role for Billionaire Elon Musk in US President Trump’s new Govt https://www.newswire.lk/2024/11/13/new-role-for-billionaire-elon-musk-in-us-president-trumps-new-govt/ Wed, 13 Nov 2024 04:56:02 +0000 http://www.newswire.lk/?p=164665

US President-elect Donald Trump is announcing key positions in his incoming administration as he prepares to return to the WhiteContinue Reading

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US President-elect Donald Trump is announcing key positions in his incoming administration as he prepares to return to the White House.

In an unusual appointment, Trump announced that the owner of ‘X’, Elon Musk and former presidential candidate Vivek Ramaswamy will lead the new “Department of Government Efficiency.”

Trump said Florida Republican Rep. Mike Waltz will be his national security adviser and tapped Pete Hegseth, a veteran and the co-host of Fox & Friends Weekend, to be secretary of defence.

Trump selected former Arkansas Gov. Mike Huckabee to be the next US ambassador to Israel and longtime friend and real estate developer Steve Witkoff to serve as Special Envoy to the Middle East.

Veteran Republican lawyer Bill McGinley will serve as his White House counsel and John Ratcliffe as CIA director, the president-elect said. (CNN)

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J.K. Rowling & Elon Musk named in Cyberbullying Lawsuit filed by Boxer Imane Khelif https://www.newswire.lk/2024/08/14/j-k-rowling-elon-musk-named-in-cyberbullying-lawsuit-filed-by-boxer-imane-khelif/ Wed, 14 Aug 2024 08:09:16 +0000 http://www.newswire.lk/?p=155545

J.K. Rowling and Elon Musk have both been named in a criminal complaint filed to French authorities over alleged “actsContinue Reading

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J.K. Rowling and Elon Musk have both been named in a criminal complaint filed to French authorities over alleged “acts of aggravated cyber harassment” against Algerian boxer and newly crowned Olympic champion Imane Khelif.

Nabil Boudi, the Paris-based attorney of Khelif, confirmed to Variety that both figures were mentioned in the body of the complaint, posted to the anti-online hatred center of the Paris public prosecutor’s office on Friday.

The lawsuit was filed against X, which under French law means that it was filed against unknown persons. That “ensure[s] that the ‘prosecution has all the latitude to be able to investigate against all people,” including those who may have written hateful messages under pseudonyms, said Boudi. The complaint nevertheless mentions famously controversial figures.

“J. K. Rowling and Elon Musk are named in the lawsuit, among others,” he said, adding that Donald Trump would be part of the investigation. “Trump tweeted, so whether or not he is named in our lawsuit, he will inevitably be looked into as part of the prosecution.”

Khelif — who on Saturday won the Olympic gold medal in the women’s 66 kilogram boxing competition — spent much of the 2024 Olympics in Paris at the center of a noisy and unpleasant dispute about her gender eligibility that reverberated around the world. Despite being born female and not identifying as transgender or intersex — and being backed by the International Olympic Committee, who asserted “scientifically, this is not a man fighting a woman” — Khelif faced a torrent of accusations and abuse over her gender. 

Most of the attacks came via social media, particularly on X/Twitter, and the controversy was escalated when high-profile figures stepped into the fray. In one message to her 14.2 million followers, Rowling posted a picture from Khelif’s fight with Italian boxer Angela Carini, accusing the former of being a man who was “enjoying the distress of a woman he’s just punched in the head.” Musk, meanwhile, shared a post from swimmer Riley Gaines that claimed “men don’t belong in women’s sports.” The X owner co-signed the message by writing: “Absolutely.” Trump posted a message with a picture from the fight with Carina accompanied by the message: “I will keep men out of women’s sports!”

Boudi said that although the complaint mentions names, “What we’re asking is that the prosecution investigates not only these people but whoever it feels necessary. If the case goes to court, they will stand trial.”

Boudi also claimed that while the lawsuit was filed in France, “it could target personalities overseas,” pointing out that “the prosecutor’s office for combating online hate speech has the possibility to make requests for mutual legal assistance with other countries.” He added that there were agreements with the U.S. equivalent of the French office for combating online hate speech.

Logan Paul was also among those who attacked Khelif on social media, posting on X following her win against Carini: “This is the purest form of evil unfolding right before our eyes. A man was allowed to beat up a woman on a global stage, crushing her life’s dream while fighting for her deceased father. This delusion must end.”

Paul later deleted the post and admitted that he “might be guilty of spreading misinformation.”

But for Bouli, such apologies — including those that Khelif has received personally from prominent figures who tweeted derogatory comments — wouldn’t change anything regarding the investigation. “The lawsuit is filed and the facts remain,” he said.

As for X, Boudi said the complaint is aimed at the authors of social media posts and not the platforms themselves. “It’s the responsibility of lawmakers to issue sanctions to platforms, not ours,” he said. But he did note that cyber harassment cases were now being taken much more seriously by judicial authorities and that, in some cases, “there are prison sentences.”

Khelif’s coach, Pedro Diaz, told Variety that the bullying Khelif endured during her run in the Olympics “incredibly affected her” and “everyone around her.”

“The first time she fought in the Olympics, there was this crazy storm outside of the ring,” said Diaz, who runs Miami-based Mundo Boxing Gym and started training with Khelif in February 2023. “I had never seen anything so disgusting in my life,” added the coach, who has participated in the training of 21 Olympic champions prior to the Algerian boxer. Diaz said he asked Khelif to refrain from looking at social media so she “wouldn’t lose her focus on winning the gold medal.”

“She’s so smart and has such an amazing motivation,” he said, adding that her gold medal win “felt like the most rewarding victory of my career as a coach.” (Variety)

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President reveals details of help sought from Elon Musk https://www.newswire.lk/2024/07/24/president-reveals-details-of-help-sought-from-elon-musk/ Wed, 24 Jul 2024 10:44:43 +0000 http://www.newswire.lk/?p=153447

Sri Lanka expects to provide billionaire businessman Elon Musk with the necessary licences to address educational challenges in the country,Continue Reading

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Sri Lanka expects to provide billionaire businessman Elon Musk with the necessary licences to address educational challenges in the country, President Ranil Wickremesinghe said.

The President said Elon Musk’s assistance has been sought to address Sri Lanka’s educational challenges and support for schools in need.

“By the end of this month, the government aims to provide him with the necessary licences to support these efforts in Sri Lanka,” he said. 

“For the past four years, we have had to limit spending on education. Now, we must invest in education and update the school system with new technology. We saw drones created by college students and developments in Artificial Intelligence (AI) within schools. Funding is required for these initiatives, and we also need to recruit more teachers,” he pointed out. 

The President revealed that he has reached out to billionaire businessman Elon Musk for assistance with these educational challenges.

President Ranil Wickremesinghe also announced that Sri Lanka will implement a strategic plan over the next decade to create job opportunities for its youth domestically, rather than having them seek employment abroad.

He stated that failing to execute this plan would undermine the government’s significant investment in education and stressed the necessity for Sri Lanka to progress beyond its current status as an underdeveloped nation.

The President highlighted his efforts to reform the education system to better align with new technologies and further assured that necessary funding will be allocated for this purpose.

He made the remarks while addressing the 106th College Day celebrations of Bandaranayake College in Gampaha today. (Newswire)

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TRCSL grants preliminary approval for Elon Musk’s Starlink https://www.newswire.lk/2024/06/06/trcsl-grants-preliminary-approval-for-elon-musks-starlink/ Thu, 06 Jun 2024 08:12:24 +0000 http://www.newswire.lk/?p=149567

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted preliminary approval for Elon Musk’s Starlink, to provide internet servicesContinue Reading

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The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted preliminary approval for Elon Musk’s Starlink, to provide internet services in the country, State Minister for Technology Kanaka Herath said.

Speaking to Newswire, the State Minister said approval will be granted following public consultations.

“We have given a period of 14 days for public consultation. After that we will look into the issues and give the approval,” Herath said.

Starlink, developed by Musk’s company SpaceX since 2015, is a vast satellite system designed to deliver high-speed Internet to even the most remote areas of earth.

The Starlink Internet service gained attention in Sri Lanka after President Ranil Wickremesinghe met with Musk on the sidelines of the 10th World Water Forum high-level meeting in Bali, Indonesia late last month.

Following their meeting on May 19, Wickremesinghe committed to expediting the application process to connect Sri Lanka to the Starlink network. (Newswire)

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Handunneththi slams Elon Musk as ‘Economic Hitman’ https://www.newswire.lk/2024/05/31/handunneththi-slams-elon-musk-as-economic-hitman/ Fri, 31 May 2024 13:09:29 +0000 http://www.newswire.lk/?p=148859

Likening Billionaire businessman and entrepreneur Elon Musk to an economic hitman, National Peoples’ Power (NPP) member Sunil Handunneththi says theContinue Reading

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Likening Billionaire businessman and entrepreneur Elon Musk to an economic hitman, National Peoples’ Power (NPP) member Sunil Handunneththi says the government has opened its doors to such foreign investors. 

Addressing the media, Handunneththi said the Board of Investment (BOI) has been completely altered to bring in people like Elon Musk. 

He further pointed out that Elon Musk was an economic hitman, similar to Hungarian-American billionaire hedge fund manager and philanthropist George Soros and Australian billionaire businessman and investor James Packer. 

Stating that investors such as Elon Musk do not offer anything for free, Handunneththi said the government has promised to bring in such foreign investors into Sri Lanka. 

NPP Member Handunneththi added that President Ranil Wickremesinghe was attempting to do so by introducing the Economic Transformation Bill, which he said was never requested by the people. (Newswire)

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Elon Musk’s Starlink suffers brief outage https://www.newswire.lk/2024/05/29/elon-musks-starlink-suffers-brief-outage/ Wed, 29 May 2024 08:59:43 +0000 http://www.newswire.lk/?p=148587

Billionaire businessman Elon Musk’s Starlink, the satellite unit of SpaceX, is back up after an outage that affected thousands ofContinue Reading

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Billionaire businessman Elon Musk’s Starlink, the satellite unit of SpaceX, is back up after an outage that affected thousands of users on Tuesday.

In a post on ‘X’, the company said “The network issue has been fully resolved.”

According to Reuters, outage tracking website Downdetector.com reported that Starlink’s services were down about an hour earlier today, affecting 41,393 users.

SpaceX’s Starlink, which owns around 60 per cent of the roughly 7,500 satellites orbiting Earth, is dominant in the satellite internet sphere.

Sri Lanka is also exploring the implementation of Starlink, with President Ranil Wickremesinghe having met with Billionaire businessman Elon Musk at the 10th World Water Forum High-Level Meeting in Indonesia, recently.

It was reported that the discussion focused on implementing Starlink in Sri Lanka and fast-tracking the application process to connect Sri Lanka with the global Starlink network. (Newswire)

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Tesla electric vehicles entry into India will be ‘natural progression’, says Elon Musk https://www.newswire.lk/2024/04/12/tesla-electric-vehicles-entry-into-india-will-be-natural-progression-says-elon-musk/ Fri, 12 Apr 2024 06:09:59 +0000 http://www.newswire.lk/?p=144646

Tesla CEO Elon Musk has said that India, like every other country, should have electric car and it will beContinue Reading

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Tesla CEO Elon Musk has said that India, like every other country, should have electric car and it will be a natural progression for his company to provide Tesla electric vehicles in India.

“India is now the most populous country in the world, based on population. India should have electric cars just like every other country has electric cars. It’s a natural progression to provide Tesla electric vehicles in India,” Musk said in a X Spaces session with Nicolai Tangen, the Chief Executive Officer at Norges Bank Investment Management.

The billionaire CEO said in the future “all vehicles will go electric and it is just a matter of time.”

Tesla has lately intensified its efforts to bolster its presence in the Indian market and is actively scouting for a suitable location to set up a state-of-the-art manufacturing plant.

As per sources, the state governments of Maharashtra and Gujarat have extended lucrative land offers to Tesla Inc. for the establishment of an electric vehicle (EV) manufacturing plant, signalling a major stride in India’s electric mobility landscape.

Sources said the proposed plant, will have an estimated investment between USD 2 billion to USD 3 billion, and will aim to cater both domestic and international markets for Tesla‘s electric vehicles.

The move comes in the wake of India’s new EV policy, where incentives have been provided for setting up manufacturing plant in India. As a global EV manufacturer, Tesla plans to establish a robust manufacturing presence in India.

Under the government’s EV scheme, which aims to position India as a preferred manufacturing destination for EVs equipped with cutting-edge technology, several key objectives are outlined.

They include attracting investments from reputable global EV manufacturers, fostering the adoption of advanced EV technology among Indian consumers, and bolstering the country’s Make in India initiative.

The policy has asked for a minimum investment threshold of Rs 4150 crore (USD 500 million) and encouraging manufacturers to achieve significant levels of domestic value addition (DVA), the government mandates that by the third year of setting up the manufacturing unit, at least 25 per cent of the parts used to make the vehicles should be sourced domestically. This localization level is expected to increase to 50 per cent by the fifth year of operation.

For vehicles valued at USD 35,000 or more, a 15 per cent customs duty will be imposed for five years if the manufacturer builds manufacturing facilities in India within three years.

The total number of EVs allowed for import under the policy will be limited based on the investment made. or of a maximum he value of Rs 6484 crore, whichever is lower. If the investment exceeds USD 800 million, a maximum of 40,000 EVs can be imported, with no more than 8,000 per year, as per the policy. Unused import limits can be carried over.

As part of its investment plans, Tesla intends to send a team of experts to scout for suitable locations across India for the proposed manufacturing facility.

The Financial Times reported, citing an Indian official, that the government would formally invite applications for the EV tariff reduction scheme by the end of this month, under which eligible companies will be allowed to import up to 8,000 vehicles a year.

Tesla Chief Executive Elon Musk in June last year said that he was planning to visit India in 2024, adding that he was confident that the electric carmaker will be in India and will do so “as soon as humanly possible.”

He had told reporters in New York, following a meeting with Prime Minister Narendra Modi, who was then on a historic four-day State visit to the US.

Musk had said that PM Modi invited him to India.

“I would like to thank PM Modi for his support and hopefully, we will be able to announce something in the future,” Musk had said.

In November 2023, Union Minister for Commerce and Industry Piyush Goyal had visited Tesla‘s manufacturing facility in California’s Fremont and said that the US electric car maker is on its way to double its components imports from India.

Goyal had stressed that he was proud to see the growing importance of auto component suppliers from India in the Tesla EV supply chain. (ANI)

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Elon Musk replaces Twitter’s blue bird logo with ‘Doge’ meme https://www.newswire.lk/2023/04/04/elon-musk-replaces-twitters-blue-bird-logo-with-doge-meme/ Tue, 04 Apr 2023 06:10:29 +0000 http://www.newswire.lk/?p=113946

Yet again, Twitter CEO Elon Musk is back with new updates for the micro-blogging site, and this time he hasContinue Reading

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Yet again, Twitter CEO Elon Musk is back with new updates for the micro-blogging site, and this time he has changed the iconic blue bird logo – which has served as a home button on the web version, with the “doge” meme of the Dogecoin cryptocurrency.

Twitter users noticed the ‘doge’ meme, which is part of the logo of the Dogecoin blockchain and cryptocurrency and was created as a joke in 2013, on the web version of Twitter on Monday.

Musk also shared a hilarious post on his account wherein the ‘doge’ meme (which features the face of a Shiba Inu) in the car and telling the police officer, who seems to be seeing his driving license, that his photo has been changed.

Notably, there was no change on Twitter’s mobile app.

It is pertinent to mention that the doge image (of a Shiba Inu) is well-known as the logo of the Dogecoin blockchain and cryptocurrency, which was created as a joke in 2013 — to mock other cryptocurrencies like Bitcoin, Variety reported.

Twitter’s CEO also shared the screenshot of the March 26, 2022, conversation between him and the anonymous account where the latter was asking to change the bird logo to “doge.” Sharing this post on Twitter, Musk wrote, “As promised.”

According to Variety, Musk, who bought Twitter last fall in a USD 44 billion deal, is a well-known superfan of the Doge meme and he has promoted Dogecoin both on Twitter and during his appearance last year hosting “Saturday Night Live.” After the change to Twitter’s web logo Monday, the value of Dogecoin rose more than 20 per cent.

After Musk tweeted in March 2022, prior to mounting his eventually successful bid to buy Twitter, “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?” Musk tweeted.

@WSBChairman had responded, “just buy twitter… and change the bird logo to a doge.” Musk responded, “Haha that would sickkk”.

He had also posted another photo stating, “Seize the Memes of Production.”

Earlier, on February 15, Musk’s love for ‘doge’ was visible as he posted the photograph of the Dogecoin blockchain and cryptocurrency logo, posing as the CEO, on his account with the caption, “The new CEO of Twitter is amazing.” (NDTV)

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WATCH: Ambuluwawa Tower video gets international attention https://www.newswire.lk/2023/02/27/watch-ambuluwawa-tower-video-gets-international-attention/ Mon, 27 Feb 2023 05:34:43 +0000 http://www.newswire.lk/?p=111069

A video shared by a foreign tourist of the Ambuluwawa Tower, located in the suburbs of Gampola Town in SriContinue Reading

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A video shared by a foreign tourist of the Ambuluwawa Tower, located in the suburbs of Gampola Town in Sri Lanka, has gone viral on social media platforms. 

The video by Massimo (@Rainmaker1973) has also drawn a response from Elon Musk, the CEO of Twitter, Tesla and SpaceX.

“The Ambuluwawa Tower is located in the suburbs of Gampola Town in Sri Lanka: it’s 48 meters tall, cone-shaped tower housing the Stupa (Pagoda) of a Buddhist Temple,” Massimo described the tourist attraction by sharing a video of him climbing the tower. (NewsWire)

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