Pope Leo XIV gifted 62 Indigenous people's artifacts held for more than 100 years by the Vatican to leaders of the Canadian Conference of Catholic Bishops.
Tech mogul Elon Musk is on course to become the world’s first trillionaire while billions struggle to survive at the poverty line
Welcome to the ‘4 comma club,’ where South African native Elon Musk is slated to be the first human being of the modern age to have accumulated $1 trillion dollars.
To put that mindboggling number into some perspective, that is more than the Gross Domestic Product of 170 countries, including Belgium, Finland, Sweden, Switzerland, Denmark, Norway, Hong Kong and New Zealand.
Musk will not be alone for long ...morein this ultra-privileged, ultra-exclusive club. Since billionaire wealth has risen three times faster in 2024 than in 2023, within the next decade, five people will hold the title of trillionaire, according to a recent study from the anti-poverty watchdog Oxfam.
Meanwhile, due to an assortment of external factors, like climate change and conflict, the number of people living in abject poverty has hardly changed since 1990. Almost 700 million people, 8.5 percent of the global population, now live on less than $2.15 per day.
The report goes on to show that the election of Donald Trump as US President in November 2024 has translated into a massive increase in billionaire wealth, while his aggressive pro-rich policies are predicted to exasperate inequality further. In its latest report on poverty, the World Bank calculates that if present growth rates continue and inequality does not reverse, it will take more than a century to defeat poverty. It seems safe to say we have already lost that battle.
Before continuing, it’s important to mention the primary source of wealth today. Currently, there exists a strong belief – supported in the media and by Hollywood - that wealth accumulation is simply the reward for raw talent. But this perception is incorrect.
“Most billionaire wealth is taken, not earned, 60% comes from either inheritance, cronyism and corruption or monopoly power,” Oxfam writes in a shocking finding. Rich families are passing down trillions of dollars in wealth per year, creating “a new aristocratic oligarchy” that has achieved tremendous power in our politics and our economy, the advocacy group warns.
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Musk set to become first trillionaire – report
In the next few decades, wealth worth over an estimated $5 trillion is anticipated to be passed from one generation to another, while little of the fortune will be taxed since the rich have numerous means for protecting their wealth from the taxman.
Today, the wealthiest 10 percent of the people worldwide possess more than 85 percent of global riches.
Perhaps it’s no coincidence that just days before Tesla shareholders agreed to a $1 trillion dollar payday for their CEO, New York City residents voted a socialist as their mayor. Zohran Mamdani, a member of the Democratic Socialists of America, grabbed the top position in the Big Apple by promising New Yorkers a raft of enticements, including the freezing of rent payments, making buses free, and making child care accessible to all city residents.
A common chant heard at political rallies for Mr. Mamdani was “Tax the Rich!” Indeed, taxing the rich doesn’t sound like a very radical idea when considering Musk’s brand-new pay package.
Meanwhile, even the Vatican was sounding the alarm on excessive wealth creation.
In September, Pope Leo XIV said the one major factor contributing to global tensi...
Blue Origin's New Glenn rocket has completed its second flight, The Washington Post reports. The rocket launched from Florida's Cape Canaveral Space Force Station on Thursday, and successfully separated from its first-stage booster, which later landed on a sea platform Blue Origin calls "Jacklyn."The launch marks the first time the space startup has been able to catch a New Glenn booster for later reuse. The maiden flight of the rocket in January was successful in the sense that it got New Glenn into space, but Blue Origin wasn't able to save the booster from a watery gra...moreve. The company hoped to launch its second New Glenn mission on November 9, but cancelled it last minute due to weather.New Glenn's second mission is also notable because of its payload: The rocket ferried NASA satellites to space that are destined for Mars as part of the agency's ESCAPADE mission. Considering SpaceX's close relationship with NASA, Blue Origin working with the agency could be an important vote of confidence. It could also mean New Glenn is in a good position to help another company founded by Jeff Bezos accelerate its satellite plans. The Post writes that Blue Origin has an existing agreement with Amazon to launch its recently rebranded Amazon Leo satellites into space. Leo is positioned as a competitor to Starlink, SpaceX's satellite internet service.While SpaceX has completed many more launches with its Starship rocket than Blue Origin has, it's also had more than a few explosive failures along the way. Blue Origin still needs more missions under its belt, but if it can repeat its success with New Glenn, it could prove to be a threat to SpaceX.This article originally appeared on Engadget at https://www.engadget.com/science/space/blue-origins-new-glenn-rocket-safely-made-it-to-space-a-second-time-230324439.html?src=rss
Amazon is making its satellite communication network a bit more official with a rebrand. The company has announced that Project Kuiper will now be called "Amazon Leo," a nod to the fact that its network is composed of satellites in low Earth orbit. Project Kuiper's journey to becoming a proper Amazon brand has been a long one. The company introduced the project in 2019 with the goal of offering internet in regions without a reliable connection, through a proposed constellation of over 3,000 satellites that could blanket 95 percent of the global population in high-speed inter...morenet. That constellation has yet to fully take shape, however. In the years following the Project Kuiper reveal, Amazon launched prototype satellites, detailed plans for a space laser mesh network and showed off the antennas customers will use to connect to its network, but it didn't actually launch the first 27 satellites in its constellation until April 2025. In comparison, its competitor Starlink has had a much faster expansion. SpaceX launched the Starlink satellite internet service in beta in 2020, and has rapidly expanded it since then. Now SpaceX has a deal with T-Mobile for satellite-enabled texting, and has struck up partnerships with airlines to test or offer internet connection on flights. Rebranding Project Kuiper to Leo suggests Amazon is finally ready to think about its satellite network as a product in its own right, but the company still has some catching up to do.Amazon hasn't shared a date for when its satellite internet service will be widely available for personal and commercial use, but you can sign-up on the Amazon Leo website to receive updates as the company works towards launch.This article originally appeared on Engadget at https://www.engadget.com/science/space/amazon-rebrands-its-starlink-competitor-to-amazon-leo-214453569.html?src=rss
WASHINGTON :A final plea by Alphabet's Google to avoid a breakup of its advertising technology business in a U.S. court has been moved to November 21, the court said.Closing arguments for the Google trial were previously scheduled for Wednesday, according to a notice from U.S. District Court Judge Leonie Brin
After several successful launches this year, Project Kuiper has its official name: Amazon Leo. It’s a nod to the term Low-Earth Orbit (LEO), which refers to orbits at an altitude of 1,200 miles (2,000 kilometers) or less. That’s the region where Amazon’s constellation of 153 satellites orbit. The original code name referred to the Kuiper […]
On November 13, 2015, coordinated terrorist attacks turned Paris into a theater of blood and calamity, with gunfire on café terraces, explosions by a stadium and a nighttime massacre at the Bataclan concert hall, leaving 132 people dead and at least 350 injured. Most of the locations targeted by the men associated with the Islamic State group were in Paris’ 10th and 11th arrondissements, places frequented by Paris' youth. Story by Delano D’Souza and Leo Paichard.