Tag: bezos

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Bezos invests Rs 350cr to build clock lasting 10,000-years

The 10,000-year clock with a solar synchroniser, a pendulum, a chime generator, and a series of gears and dials, uses the Earth’s thermal cycles to power itself…reports Asian Lite News

Billionaire Jeff Bezos has invested Rs 350 crore or $42 million to build a clock that will last 10,000-years and will tick just once a year, according to a report.

The 500-feet tall clock, designed by computer scientist and inventor Danny Hillis, is located inside a mountain in Texas, Fox News reported.

The 10,000-year clock with a solar synchroniser, a pendulum, a chime generator, and a series of gears and dials, uses the Earth’s thermal cycles to power itself.

The Clock is engineered to require minimal maintenance, and powered by mechanical energy harvested from sunlight as well as the people that visit it. It is entirely mechanical, made of long-lasting materials, including titanium, ceramics, quartz, sapphire, and 316 stainless steel.

It will mark time with astronomic and calendric displays and a chime generator that can produce over 3.5 million unique bell chime sequences — one for every day the Clock is visited for the next 10,000 years.

The clock also has five room-sized anniversary chambers, one for each of the first, 10th, 100th, 1,000th and 10,000th-year anniversaries. The chambers are sealed spaces for time-related artefacts and messages about humanity’s future, the report said.

The first chamber will contain a model of the solar system and the others will be left for future generations to fill.

Work on the clock continues, and no completion date has been set. It is currently being built by the Long Now Foundation and is called “The Clock of the Long Now”.

The foundation said the “monument scale mechanical clock” is designed to keep accurate time for the next ten millennia.

But to save energy, it won’t update its display dials unless a visitor is present to provide the necessary power. “To see The Clock you need to start at dawn, like any pilgrimage. It will require a day’s hike to reach its interior gears,” according to the foundation’s website,

The clock will be free to visit, but the number of visitors will be limited to preserve the integrity and the mystery of the clock, the report said.

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-Top News Media USA

Washington Post for sale?

The Washington Post.(photo:wikipedia)

Jeff Bezos to sell Washington Post to buy NFL team Commanders…reports Asian Lite News

Bezos was persuaded to purchase the Post in 2013 in order to ensure financial stability and online expansion.

Amazon founder Jeff Bezos is likely to sell the American newspaper Washington Post to buy the football team Washington Commanders, according to the New York Post.

The Washington Post is believed to be up for sale by one logical suitor, who intends to submit a proposal, according to a source with firsthand knowledge of the matter. The source declined to identify the suitor. A second newspaper buyer and seller claimed to have heard rumours that the publication might be for sale.
However, as per several media reports, a spokesperson for Bezos said the Washington Post is not for sale. A spokesperson for the journal — the owner of which, News Corp, also owns the New York Post, also stated the paper is not for sale.

Notably, Bezos bought the Washington Post in 2013 for USD 250 million. New York Post reported that Bezos is ‘looking to clear the way’ to get the Commanders from embattled owner Dan Snyder.

Reportedly, the Commanders, who have won three Super Bowls, lifting the Lombardi Trophy in 1983, 1988 and 1992, are seen by their potential investors as a sleeping giant franchise in a major market.

According to reports, Bezos is facing trouble because the struggling owner of the Commanders, Dan Snyder, is still angry about the illustrious newspaper’s series of exposes exposing a poisonous management culture at the team, where bosses including Snyder are allegedly responsible for enabling sexual harassment.

The Washington Post.(photo:wikipedia)

Meanwhile, Front Office Sports, a multiplatform media brand that covers the influence of sports on business and culture reported that Bank of America, hired by Snyder to auction the Commanders, “continues to court Bezos — even if there are indications that Snyder doesn’t want to sell” to the Amazon founder, New York Post reported.

The Commanders apparently accepted first-round bids from potential buyers last week, but Bezos, who supposedly has been in negotiations with Jay-Z to form a buyout partnership, wasn’t one of them.

Moreover, Bezos has time and again claimed that football is his favourite sport but has not claimed publically whether he would like to add a National Football League (NFL) team to his establishment.

Despite experiencing expansion quickly under Bezos with massive coverage, the newspaper apparently planned to lose money in 2022 after years of profits as circulation dwindled after the end of the Trump administration.

If Bezos does make a bid for the team, it will be an intriguing test for the Snyders given his tremendous wealth and purchasing power.

Amazon founder Jeff Bezos, who is among the richest people in the world, revealed in November what he ultimately plans to do with his fortune of billions of dollars.

In an interview with American broadcaster CNN, the billionaire said he plans to donate the majority of his wealth to charitable causes within his lifetime. (ANI)

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Business

Bezos ready to donate most of his fortune

The fourth-wealthiest person in the world, however, declined to identify a specific percentage or to provide concrete details on where it would likely be spent…reports Asian Lite News

Amazon founder Jeff Bezos has announced plans to donate most of his $124 billion fortune during his lifetime, at a time when the e-commerce giant is reportedly set to lay off nearly 10,000 workers.

Bezos told CNN that the money will go towards fighting climate change and “supporting people who can unify humanity in the face of deep social and political divisions”.

Bezos’ partner, the journalist-turned-philanthropist Lauren Sanchez, said the couple is “building the capacity to be able to give away this money”.

Asked by CNN whether he intends to donate the majority of his wealth within his lifetime, Bezos said: “Yeah, I do.”

The fourth-wealthiest person in the world, however, declined to identify a specific percentage or to provide concrete details on where it would likely be spent.

The Amazon founder has committed $10 billion over 10 years, or about 8 per cent of his current net worth, to the Bezos Earth Fund co-chaired by Sanchez.

In May this year, Bezos donated $118 million to a nonprofit, but it was unclear to which nonprofit he made the donation.

According to a Securities and Exchange Filings (SEC) filing, Bezos transferred 47,727 shares of Amazon stock to an unnamed nonprofit, worth a total of $118 million based on that day’s closing stock price, reports Forbes.

Bezos does most of his philanthropy through gifts of Amazon shares, which the receiving nonprofit is allowed to sell without paying capital gains taxes.

Since the beginning of this year, Bezos has gifted 84,030 Amazon shares worth $233 million to unnamed nonprofits, according to SEC filings.

Bezos is not required to disclose which nonprofits receive his shares, though he tends to publicly announce his large donations sometime after he has transferred the stock, the report said.

In 2021 alone, he gave $100 million to former President Barack Obama’s Foundation, as well as to World Central Kitchen’s chef Jose Andres and nonprofit founder Van Jones to give to charities of their choice.

He also made a $200 million pledge to the Smithsonian’s Air and Space Museum in July last year.

Bezos has also been giving away $100 million per year to organisations helping homeless families as part of his Day One Fund initiative.

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Business Tech Lite

Report claims Bezos donated $118 million to  non-profit

Bezos has made a smattering of $100 million donations in recent years as he’s stepped up his philanthropy…reports Asian Lite News

Tech giant Amazon’s founder Jeff Bezos has donated $118 million to a nonprofit, but it is unclear to which nonprofit he donated, media report said.

According to a Securities and Exchange Filings (SEC) filing, Bezos transferred 47,727 shares of Amazon stock to an unnamed nonprofit, worth a total of $118 million based on that day’s closing stock price, reports Forbes.

Bezos does most of his philanthropy through gifts of Amazon shares, which the receiving nonprofit is allowed to sell without paying capital gains taxes.

Since the beginning of this year, Bezos has gifted 84,030 Amazon shares worth $233 million to unnamed nonprofits, according to SEC filings.

A spokesperson for Bezos did not immediately respond to a request for comment from Forbes about the donation.

Bezos is not required to disclose which nonprofits receive his shares, though he tends to publicly announce his large donations sometime after he has transferred the stock, the report said.

Bezos has made a smattering of $100 million donations in recent years as he’s stepped up his philanthropy.

In 2021 alone, he gave $100 million to former President Barack Obama’s Foundation, as well as to World Central Kitchen’s chef Jose Andres and nonprofit founder Van Jones to give to charities of their choice.

And he made a $200 million pledge to the Smithsonian’s Air and Space Museum last July, just days before he blasted off into space on his Blue Origin rocket. He has also been giving away $100 million per year to organisations helping homeless families as part of his Day One Fund initiative.

ALSO READ-Musk again tops Bezos in the ‘richest’ run

Categories
Business

Musk again tops Bezos in the ‘richest’ run


The report mentioned that Musk gained another $90 billion in 2021, as he knocked Bezos off the top of the Forbes rich list to begin the year…reports Asian Lite News

Tesla and SpaceX CEO Elon Musk is continuing to grow his status as the world’s richest man as his net worth is skyrocketing over the rest of the top earners in 2022.

In the latest Forbes list, Musk increased his net worth to $282 billion, which is over $100 billion richer than Amazon founder Jeff Bezos, whose net worth is $183.6 billion, reports the Daily Mail.

Musk was one of the biggest beneficiaries from the Covid-19 pandemic, as his net worth sat at just $26.6 billion at the beginning of 2020.

In 2020, Musk’s wealth grew by over $110 billion, which is the record for anyone in the history of Forbes tracking such numbers.

The report mentioned that Musk gained another $90 billion in 2021, as he knocked Bezos off the top of the Forbes rich list to begin the year.

Musk is now $115 billion richer than LVMH CEO Bernard Arnault, the third richest man in the world with a net worth of $167.4 billion, the report said.

He is also well past the numbers for Microsoft founders Bill Gates ($134.2 billion) and Steve Ballmer ($97 billion), it added.

Recently, Twitter CEO Parag Agrawal has said that the micro-blogging platform has appointed Musk to its board of directors.

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