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Elon Musk Projected to Become Worlds First Trillionaire by 2027, Says Informa Connect Academy

With an average yearly wealth growth rate of 110%, Elon Musk is expected to become the first trillionaire in history by 2027, according to Informa Con

With an average yearly wealth growth rate of 110%, Elon Musk is expected to become the first trillionaire in history by 2027, according to Informa Connect Academy. At $251 billion, Musk is now the wealthiest person in the world. His leadership in SpaceX and Tesla is credited with his companys success. After him, Indian business tycoon Gautam Adani is expected to become a trillionaire by 2028 due to his fortune increasing by 123% every year. Jensen Huang, the CEO of Nvidia, is predicted to become a trillionaire by 2028, provided his fortune increases by 112% annually. By 2030 and 2033, Mukesh Ambani and Bernard Arnault of LVMH might be trillionaires. The study emphasises how wealthbuilding among business and technology executives is competitive. Read More..

B2B Tech News | 3 months ago        

APRA Proposes Phasing Out Bank Hybrid Bonds for More Stable Capital Forms by 2032

Because the increasing proportion of these securities owned by individual investors creates a risk to the countrys financial stability, Australias Pru

Because the increasing proportion of these securities owned by individual investors creates a risk to the countrys financial stability, Australias Prudential Regulator APRA suggested on Tuesday that bank hybrid bonds be replaced with more stable and affordable capital forms. In response to a September 2023 discussion paper, APRA intends to simplify additional tier1 AT1 capital instruments to improve their crisis resilience. Hybrid bonds, which combine debt and equity, may be phased out by 2032 the shift would begin on 1 January 2027. Hybrid securities will still be available to insurers, though. The purpose of APRAs action is to protect depositor money, lower bank compliance costs, and strengthen the financial systems stability. Read More..

B2B Tech News | 3 months ago        

Samsung SDI Sells Polarizing Film Business to Wuxi Hengxin for $836 Million

The company announced on Tuesday that the polarising film business of South Koreas Samsung SDI will be sold to Chinas Wuxi Hengxin Optoelectronic Mate

The company announced on Tuesday that the polarising film business of South Koreas Samsung SDI will be sold to Chinas Wuxi Hengxin Optoelectronic Materials for a price of 1.12 trillion won $836.47 million. The polarising film businesses of Samsung SDI in Cheongju and Suwon, South Korea, as well as its Wuxi, China branch, are included in the purchase. With further investment, Samsung SDI hopes to increase competitiveness and forge synergies with its core battery operations by strengthening its semiconductor, OLED, and battery materials businesses. This strategic decision enables the company to focus on these areas. Read More..

B2B Tech News | 3 months ago        

Oracle Surpasses Earnings Estimates with 21% Cloud Revenue Surge, Shares Jump 9%

Driven by higher demand for cloud services, Oracle beat quarterly profit projections and predicted strongerthanexpected revenue growth for the second

Driven by higher demand for cloud services, Oracle beat quarterly profit projections and predicted strongerthanexpected revenue growth for the second quarter. The news caused shares to rise by more than 9%. Oracles cloud computing business, particularly Oracle Cloud Infrastructure, is gaining ground and getting closer to market leaders Amazon Web Services and Microsoft. Surpassing analysts estimates, the corporation announced a 21% increase in cloud services revenue, hitting $5.6 billion and overall revenue of $13.31 billion. Additionally, Oracle disclosed new alliances with Google Cloud and AWS to improve its database offerings. Oracle anticipates a sales increase in Q2 of 8% to 10%, above the projected 8.72%. Read More..

B2B Tech News | 3 months ago        

Russian Foreign Minister Lavrov and Saudi Crown Prince Salman Discuss IsraelPalestine Conflict and OPEC+ Cooperation

Meetings with Crown Prince Mohammed bin Salman took place during the visit of Russian Foreign Minister Sergei Lavrov to Saudi Arabia. Various subjects

Meetings with Crown Prince Mohammed bin Salman took place during the visit of Russian Foreign Minister Sergei Lavrov to Saudi Arabia. Various subjects were discussed, such as energy cooperation and the IsraelPalestine conflict. Regarding the role that OPEC+ plays in preserving the stability of the world oil market, both sides commended continued cooperation within the framework. To balance supply and demand in the energy industry, they pointed out that recent choices highlight the frameworks increasing independence and efficacy. The talks highlighted the value of this international coordinating framework and the pleasure both parties have with the present partnerships. Read More..

B2B Tech News | 3 months ago        

Salesforce to Acquire Own Company for $1.9 Billion, Strengthening Data Security and Privacy Offerings

The provider of data management and protection solutions, Own Company, will be acquired by Salesforce for a cash price of $1.9 billion. With growing w

The provider of data management and protection solutions, Own Company, will be acquired by Salesforce for a cash price of $1.9 billion. With growing worries over data loss from system malfunctions, human mistakes, and cyberattacks, this action attempts to strengthen Salesforces data security and privacy services. Without impacting Salesforces capital return plan or fiscal year 2025 estimate, the purchase, projected to finalise in Q4 of fiscal 2025, is expected to improve free cash flow starting in the second year. Own Company has formed relationships with Microsoft Dynamics 365 and ServiceNow and has previously garnered over $500 million from investors, including BlackRock, Salesforce Ventures, and Tiger Global. To improve its AIdriven products, Salesforce also recently decided to buy Tenyx. Read More..

B2B Tech News | 3 months ago        

Panasonic Energy Readies for Mass Production of 4680 EV Batteries at Renovated Wakayama Plant

The upgraded Panasonic Energy facility in Wakayama, Japan, is ready to produce its 4680 electric car batteries in large quantities. Improved EV drivin

The upgraded Panasonic Energy facility in Wakayama, Japan, is ready to produce its 4680 electric car batteries in large quantities. Improved EV driving range and fewer cells required per battery pack are the goals of the new 4680 cells, which have five times the capacity of the smaller 2170 batteries. With production commencing following automobile clients approval, the factory will play a pivotal role in manufacturing these cuttingedge batteries. In addition to housing 400 workers by March 2025, the facility will test manufacturing procedures that might be used in other battery facilities worldwide. Panasonic now produces 2170 and 1860 cylindrical batteries in its additional Japanese plants. Read More..

B2B Tech News | 3 months ago        

Fuji Soft Shares Surge 7% Above KKRs $3.9 Billion Bid, Sparking Speculation of Rushed Sale

As of right now, shares of Fuji Soft are trading 7% higher than the $3.9 billion takeover price made by American buyout group KKR, raising the possibi

As of right now, shares of Fuji Soft are trading 7% higher than the $3.9 billion takeover price made by American buyout group KKR, raising the possibility that the business acted hastily to accept the offer. The offer from KKR, which values Fuji Soft at 8,800 yen per share, came after a significant selloff in stocks worldwide. Bain Capital, however, has stated that if it had known Fuji Soft was interested in selling, it would have offered a more extensive offer. With the approval of the companys board, Bain Capital is now working on a legally binding proposal that would relieve 3D, the largest shareholder of Fuji Soft, of its need to offer shares to KKR. The status quo persists while investors want a better offer. Read More..

B2B Tech News | 3 months ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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