The fortune of the world’s 10 wealthiest men doubled during the Covid pandemic, as per a report. During the first two years of Covid, poverty and inequality soared, Oxfam report said. These men’s wealth jumped from $700 billion to $1.5 trillion, an average rate of $1.3 billion/day. Oxfam said the fortune of the wealthiest men rose more during the pandemic than it did in the last 14 years. The Oxfam report said inequality is contributing to the death of 21,000 people every day. Oxfam report added that pandemic has plunged 160 million people into poverty.

Wealth of world’s 10 richest men doubled during Covid pandemic: Report

<p>A few hours after Tesla Inc. owner, Elon Musk was declared as the richest man, the main brain of SpaceX&nbsp;took to Twitter to share his thoughts on it, and his reaction&nbsp;was simply 'strange'.</p>

<p>Musk surpassed Amazon's owner Jeff Bezos in the&nbsp;Bloomberg Billionaires Index and was declared the richest man on this planet after a 4.8 per cent&nbsp;rally in the electric carmaker, Tesla's share price.</p>

<p><strong>Also read|&nbsp;<a href="https://www.wionews.com/business-economy/elon-musk-becomes-worlds-richest-person-reports-355216">Elon Musk becomes world's richest person: Reports</a></strong></p>

<p>However, Musk did not find it very interesting and was eager to get back to work, with a pending launch in SpaceX. Replying to a tweet stating the news, Musk said, "How strange" and followed it with "Well, back to work …"</p>

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<p dir="ltr" lang="en">How strange</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1347204459147902978?ref_src=twsrc%5Etfw">January 7, 2021</a></blockquote>
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<p dir="ltr" lang="en">Well, back to work …</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1347204606414131200?ref_src=twsrc%5Etfw">January 7, 2021</a></blockquote>
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<p>Musk's net wealth is now estimated to be&nbsp;$185 billion by CNBC. Since the announcement, Muska has also changed his pinned tweet to stress on the importance of the utilisation of his wealth. "About half my money is intended to help problems on Earth &amp; half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens &amp; we destroy ourselves," the pinned tweet reads.</p>

<p>"Tesla's performance in 2020 was impressive, but not as impressive as the increase in its shares, which we continue to believe are overvalued," said a note earlier this week from JPMorgan Chase, which has an "underweight" on the equity.</p>

<p>Shares of Tesla surged 6.3 per cent to $803.78 in late morning trading, lifting the company's market capitalization above $750 billion. Musk, the owner of the company, holds nearly 21 per cent of Tesla's shares.</p>

<p><em>(With inputs from agencies)</em></p>


A few hours after Tesla Inc. owner, Elon Musk was declared as the richest man, the main brain of SpaceX took to Twitter to share his thoughts on it, and his reaction was simply 'strange'.

A few hours after Tesla Inc. owner, Elon Musk was declared as the richest man, the main brain of SpaceX took to Twitter to share his thoughts on it, and his reaction was simply 'strange'. Musk surpassed Amazon's owner Jeff Bezos in the Bloomberg Billionaires Index and was declared the richest man on this planet after a 4.8 per cent rally in the electric carmaker, Tesla's share price. Also read| Elon Musk becomes world's richest person: Reports However, Musk did not find it very interesting and was eager to get back to work, with a pending launch in SpaceX. Replying to a tweet stating the news, Musk said, "How strange" and followed it with "Well, back to work …" How strange — Elon Musk (@elonmusk) January 7, 2021 × Well, back to work … — Elon Musk (@elonmusk) January 7, 2021 × Musk's net wealth is now estimated to be $185 billion by CNBC. Since the announcement, Muska has also changed his pinned tweet to stress on the importance of the utilisation of his wealth. "About half my money is intended to help problems on Earth & half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens & we destroy ourselves," the pinned tweet reads. "Tesla's performance in 2020 was impressive, but not as impressive as the increase in its shares, which we continue to believe are overvalued," said a note earlier this week from JPMorgan Chase, which has an "underweight" on the equity. Shares of Tesla surged 6.3 per cent to $803.78 in late morning trading, lifting the company's market capitalization above $750 billion. Musk, the owner of the company, holds nearly 21 per cent of Tesla's shares. (With inputs from agencies)

Elon Musk's 'strange' reaction on becoming world's richest person

<p>Amazon CEO Jeff Bezos who is in India for an annual Amazon event yesterday visited the Mahatma Gandhi memorial in New Delhi.&nbsp;</p>

<p>One of the first thing he did was visiting the Gandhi memorial at Rajghat. He was seen placing flowers at the memorial and paying respect. Bezos posted a video where he can be seen in a white kurta and an orange half-jacket, carrying a colourful wreath of flowers on the lawns of the memorial at Raj Ghat.</p>

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<p dir="ltr" lang="en">Just landed in India and spent a beautiful afternoon paying my respects to someone who truly changed the world. “Live as if you were to die tomorrow. Learn as if you were to live forever." - Mahatma Gandhi. <a href="https://t.co/xDXAT9cBgf">pic.twitter.com/xDXAT9cBgf</a></p>
— Jeff Bezos (@JeffBezos) <a href="https://twitter.com/JeffBezos/status/1217100229993881600?ref_src=twsrc%5Etfw">January 14, 2020</a></blockquote>
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<p><a href="https://www.wionews.com/india-news/amazon-ceo-jeff-bezos-takes-a-dig-at-mark-zuckerberg-calls-making-of-facebook-childs-play-274396">Also read:&nbsp;Amazon CEO Jeff Bezos takes a dig at Mark Zuckerberg, calls making of Facebook child's play</a></p>

<p><br />
Amazon's Jeff Bezos, richest man in the world, has been under fire for work policies termed as “brutal”. It was in the context that many have responded to the video posted by him on social media paying respect of Gandhi.&nbsp;<br />
&nbsp;</p>

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<p dir="ltr" lang="en">Hey <a href="https://twitter.com/JeffBezos?ref_src=twsrc%5Etfw">@JeffBezos</a>, you &amp; other corporate leaders should be boycotting the Modi regime. Did you know that:<br />
<br />
Kashmir has been without internet since Aug 5, 2019;<br />
<br />
Millions could be rendered stateless in Assam;<br />
<br />
A new citizenship bill discriminates against Muslims?<br />
<br />
Speak out please. <a href="https://t.co/iwOrLbUz6x">https://t.co/iwOrLbUz6x</a></p>
— Arjun Sethi (@arjunsethi81) <a href="https://twitter.com/arjunsethi81/status/1217119755959783426?ref_src=twsrc%5Etfw">January 14, 2020</a></blockquote>
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<p>&nbsp;</p>

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<p dir="ltr" lang="en">I think Ghandi would have a few words to say to the richest man on the planet. And his cheapskate way of handling charity and the way Amazon treats its employees as human filth <a href="https://twitter.com/hashtag/JeffBezos?src=hash&amp;ref_src=twsrc%5Etfw">#JeffBezos</a></p>
— buy nothing day (@HansWor94958595) <a href="https://twitter.com/HansWor94958595/status/1217139919698657281?ref_src=twsrc%5Etfw">January 14, 2020</a></blockquote>
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<p dir="ltr" lang="en">True his sweat shops are the worst. Don’t be a few minutes late you’ll be fired even if you call and let them know there was an accident. And what’s up with the cult numbering system? That’s just creepy.</p>
— WickedJoker (@w1ck3dj0k3r949) <a href="https://twitter.com/w1ck3dj0k3r949/status/1217495442700660736?ref_src=twsrc%5Etfw">January 15, 2020</a></blockquote>
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<p dir="ltr" lang="de">Ye sab bechna band krde Bezos <a href="https://t.co/IFUEspdZC1">pic.twitter.com/IFUEspdZC1</a></p>
— Tempest (@ColdCigar) <a href="https://twitter.com/ColdCigar/status/1217114519526240256?ref_src=twsrc%5Etfw">January 14, 2020</a></blockquote>
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<p>Also watch:&nbsp;</p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/amazon-ceo-jeff-bezos-lands-in-india-pays-tribute-to-mahatma-gandhi-274308/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>


Amazon CEO Jeff Bezos who is in India for an annual Amazon event yesterday visited the Mahatma Gandhi memorial in New Delhi. One of the first thing he did was visiting the Gandhi memorial at Rajghat.

Amazon CEO Jeff Bezos who is in India for an annual Amazon event yesterday visited the Mahatma Gandhi memorial in New Delhi. One of the first thing he did was visiting the Gandhi memorial at Rajghat. He was seen placing flowers at the memorial and paying respect. Bezos posted a video where he can be seen in a white kurta and an orange half-jacket, carrying a colourful wreath of flowers on the lawns of the memorial at Raj Ghat. Just landed in India and spent a beautiful afternoon paying my respects to someone who truly changed the world. “Live as if you were to die tomorrow. Learn as if you were to live forever." - Mahatma Gandhi. pic.twitter.com/xDXAT9cBgf — Jeff Bezos (@JeffBezos) January 14, 2020 × Also read: Amazon CEO Jeff Bezos takes a dig at Mark Zuckerberg, calls making of Facebook child's play Amazon's Jeff Bezos, richest man in the world, has been under fire for work policies termed as “brutal”. It was in the context that many have responded to the video posted by him on social media paying respect of Gandhi. Hey @JeffBezos, you & other corporate leaders should be boycotting the Modi regime. Did you know that: Kashmir has been without internet since Aug 5, 2019; Millions could be rendered stateless in Assam; A new citizenship bill discriminates against Muslims? Speak out please. https://t.co/iwOrLbUz6x — Arjun Sethi (@arjunsethi81) January 14, 2020 × I think Ghandi would have a few words to say to the richest man on the planet. And his cheapskate way of handling charity and the way Amazon treats its employees as human filth #JeffBezos — buy nothing day (@HansWor94958595) January 14, 2020 × True his sweat shops are the worst. Don’t be a few minutes late you’ll be fired even if you call and let them know there was an accident. And what’s up with the cult numbering system? That’s just creepy. — WickedJoker (@w1ck3dj0k3r949) January 15, 2020 × Ye sab bechna band krde Bezos pic.twitter.com/IFUEspdZC1 — Tempest (@ColdCigar) January 14, 2020 × Also watch:

Amazon CEO Jeff Bezos gets trolled online as he visits Gandhi memorial at Rajpath

<p>Anyone who has followed Amazon's India strategy will not be surprised by the latest investment offer of its CEO Jeff Bezos.</p>

<p>Six years ago, the same Jeff Bezos promised to invest $2 billion in India. Now, it's $1 billion.</p>

<p>But as we have seen, the small traders view Amazon as a monopoly. They are worried about their livelihood.&nbsp;</p>

<p>This leads to several complex questions - can India strike a balance between big-ticket investments and small businesses? if the answer is yes, then how can India achieve the balance?</p>

<p>While the digitisation of Indian businesses is a welcome step, the question is&nbsp; - what is Amazon's profit in this?</p>

<p>Already, India's small retailers blame Amazon and Walmart for offering deep discounts. For consumers, deep discounts are good news, but it sounds a death-knell for small businesses who struggle to compete with 'giant' discounts.</p>

<p>Unless the government brings in pricing regulations on online retail business, this problem will continue, with or without Amazon.</p>

<p>Amazon and Walmart have already been accused of violating India foreign investment rules. There are also doubts over how firms like Amazon use consumer data.</p>

<p>The government must make it clear to Amazon that predatory pricing practices will not be allowed in India. Having said that, it's a good thing that Amazon is interested in India.</p>

<p>It shows that there is global optimism on India's consumption and economy and more investments would only accelerate the economic revival.</p>

<p>India is home to the world's fastest-growing e-commerce market, second-biggest smartphone user base. India's export market could also improve drastically with investments from platforms like Amazon.&nbsp;</p>

<p>The need of the hour is the balance. Small businesses are crucial for the long-term health of the Indian economy. Moreover, small businesses will promote local innovation.</p>

<p>The government needs to approach this situation in a graded manner by setting pricing norms, incentivising small businesses while also enhancing the synergies through investments from Amazon.</p>

<p>While Jeff Bezos makes his sweet offers, it is important for the government to understand a simple fact - the mood among small retailers should not be allowed to turn sour and bitter.<br />
<br />
<em>(Disclaimer: WION Edit is the channel's take on the big events of the world)&nbsp;</em></p>


Anyone who has followed Amazon's India strategy will not be surprised by the latest investment offer of its CEO Jeff Bezos. Six years ago, the same Jeff Bezos promised to invest $2 billion in India.

Anyone who has followed Amazon's India strategy will not be surprised by the latest investment offer of its CEO Jeff Bezos. Six years ago, the same Jeff Bezos promised to invest $2 billion in India. Now, it's $1 billion. But as we have seen, the small traders view Amazon as a monopoly. They are worried about their livelihood. This leads to several complex questions - can India strike a balance between big-ticket investments and small businesses? if the answer is yes, then how can India achieve the balance? While the digitisation of Indian businesses is a welcome step, the question is - what is Amazon's profit in this? Already, India's small retailers blame Amazon and Walmart for offering deep discounts. For consumers, deep discounts are good news, but it sounds a death-knell for small businesses who struggle to compete with 'giant' discounts. Unless the government brings in pricing regulations on online retail business, this problem will continue, with or without Amazon. Amazon and Walmart have already been accused of violating India foreign investment rules. There are also doubts over how firms like Amazon use consumer data. The government must make it clear to Amazon that predatory pricing practices will not be allowed in India. Having said that, it's a good thing that Amazon is interested in India. It shows that there is global optimism on India's consumption and economy and more investments would only accelerate the economic revival. India is home to the world's fastest-growing e-commerce market, second-biggest smartphone user base. India's export market could also improve drastically with investments from platforms like Amazon. The need of the hour is the balance. Small businesses are crucial for the long-term health of the Indian economy. Moreover, small businesses will promote local innovation. The government needs to approach this situation in a graded manner by setting pricing norms, incentivising small businesses while also enhancing the synergies through investments from Amazon. While Jeff Bezos makes his sweet offers, it is important for the government to understand a simple fact - the mood among small retailers should not be allowed to turn sour and bitter. (Disclaimer: WION Edit is the channel's take on the big events of the world)

WION Edit: Amazon's investment offer - options for India