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Serial entrepreneur, founder of multiple multi-billion dollar companies the CEO of Tesla, SpaceX, and Twitter Elon Musk opened up more about his personal life yesterday.

He wrote a long tweet to clarify the confusion surrounding his teenage life, early career, and inheritance from his family especially his fathers emerald mines.

Just recently, some of the mainstream media outlets published stories of how Elon Musk thrived so much inheriting a fortune mainly from the emerald mine his father owned in the past.

I grew up in a lower, transitioning to upper, middle income situation, but did not have a happy childhood. Havent inherited anything ever from anyone, nor has anyone given me a large financial gift, Elon Musk started the tweet with this paragraph.

Elon Musk outright denied getting any financial assistance to build his business empire in the United States.

The rumors of Elon Musk inheriting a fortune from his fathers apartheid emerald mine or slave emerald mine are not new. These rumors first started appearing on social media back in 2013 and Musk has denied these rumors in the past as well. But this time, he went into a bit of detail.

For example in the following tweet from Dec 2019, Elon Musk said that he ended up in a ~$100k student loan despite working through college. He couldnt even afford a 2nd computer at his company Zip2.

The emerald mine rumors once again started picking up pace after Elons father Errol Musk gave an interview to The Sun last month. Errol said that he actually owned an emerald mine in Zambia (near Lake Tanganyika).

Elon Musks father even went on to say that his son knew about the mine when the family lived together in South Africa. And precious stones kept coming to them from time to time and Elon Musks sister even owned some of them.

Errol says that he used the money from his emerald mine to send his sons Elon and Kimbal Musk to North America. Though he admitted that this emerald mine was kind of a protruded rock, not an actual mine (the story he told The Sun is highly interesting but hard to swallow at the same time).

Elon Musk had to compose a long story responding to this emerald mine rumor because a Community Note on Twitter tagged a mainstream news story as a source of confirmation of this gossip. At the request of the community, this note was later on removed from the social media platform.

Heres the complete post in Elon Musks words:

I grew up in a lower, transitioning to upper, middle income situation, but did not have a happy childhood. Havent inherited anything ever from anyone, nor has anyone given me a large financial gift.

My father created a small electrical/mechanical engineering company that was successful for 20 to 30 years, but it fell on hard times. He has been essentially bankrupt for about 25 years, requiring financial support from my brother and me.

That said, he does deserve credit for teaching me the fundamentals of physics, engineering and construction, which is more valuable than money, but did not support me financially after high school in any meaningful way.

Our condition of providing him financial support was that he not engage in bad behavior. Unfortunately, he nonetheless did. There are young children involved, so we continued to provide financial support for their well-being.

Regarding the so-called emerald mine, there is no objective evidence whatsoever that this mine ever existed. He told me that he owned a share in a mine in Zambia, and I believed him for a while, but nobody has ever seen the mine, nor are there any records of its existence.

If this mine was real, he would not require financial support from my brother and me.

Elon Musks mother Maye Musk also commented on his tweet and said the family moved to Toronto in 1989 in a one-bedroom apartment. The family later on moved to another apartment and that she never heard of an emerald mine until the rumors started on Twitter about 10 years ago.

I only briefly lived with my Mom tbc [to be clear] lol, Elon Musk stated in a reply to his mothers above tweet.

Let us know what you think in the comments section below.

Stay tuned for more Elon Musk news, and videos. Follow us on:Google News|Flipboard|RSS (Feedly).

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Elon Musk denies any knowledge of the emerald mines or inheriting anything from his father - Tesla Oracle - Elon Musk, Tesla, SpaceX News

The mother of Elon Musk, the eccentric billionaire owner of Twitter and Tesla, enjoyed visiting Santorini but evidently did not leave Greece after her professional duties and is now soaking up the views and joys of Hydra.

Hello Hydra, Greece. I spent a wonderful day exploring this beautiful island," Maye Musk wrote on Twitter before thanking CAA Speakers and Golden Yachts.

Days earlier she turned to Twitter again to show off her snaps from Santorini.

Meanwhile, Elon Musk quashed claims that his father Errol Musk used emeralds from an "under the table" mine to finance him and said he didn't have a happy childhood and grew up in lower middle income situation.

His mother Maye Musk replied, "When we moved to Toronto in 1989, we stayed in a one-bedroom apartment until I found a rent-controlled apartment."

The Twitter owner wrote on his platform: "I grew up in a lower, transitioning to upper, middle income situation, but did not have a happy childhood. Havent inherited anything ever from anyone, nor has anyone given me a large financial gift.

"My father created a small electrical/mechanical engineering company that was successful for 20 to 30 years, but it fell on hard times. He has been essentially bankrupt for about 25 years, requiring financial support from my brother and me.

"That said, he does deserve credit for teaching me the fundamentals of physics, engineering and construction, which is more valuable than money, but did not support me financially after high school in any meaningful way.

"Our condition of providing him financial support was that he not engage in bad behavior. Unfortunately, he nonetheless did. There are young children involved, so we continued to provide financial support for their well-being.

"Regarding the so-called 'emerald mine', there is no objective evidence whatsoever that this mine ever existed. He told me that he owned a share in a mine in Zambia, and I believed him for a while, but nobody has ever seen the mine, nor are there any records of its existence.

"If this mine was real, he would not require financial support from my brother and me."

READ MORE: Salt Bae accused of "God complex" and stealing tips from staff.

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Elon Musk's Mother Maye Is Now In Hydra! - GreekCityTimes.com

The past week saw the release of the Labor Department's non-farm payrolls report, which was more positive than expected. In April, U.S. employers added 253,000 jobs, ahead of the consensus estimate of 180,000.

Still, on Saturday, Tesla CEO Elon Musk used a certain data point to seemingly reiterate his view that the Federal Reserve is committing a mistake by basing its rate decisions on lagging indicators.

The Labor Department revised its job figure for March from 236,000 to 165,000 a move that appeared to take the sheen off the April number, wrote conservative blog site Zerohege in a tweet on Friday.

"Instead of a beat, would have been a huge miss," it tweeted.

In response to the tweet, Musk wrote, Almost like there's latency in their data, so things are worse than they realize"

See Also: How To Invest In Startups

Ahead of last week's Fed decision, the billionaire warned that another hike from the countrys central banking system could push the countrys economy into a deeper recession. At a recent meeting, the Fed made the decision to raise rates to a 16-year high of 5-5.25%.

Although the Fed's post-meeting statement was tweaked to remove references to "further rate increases," Fed Chair Jerome Powell hinted that the central bank may not be done with hikes just yet.

Read Next: White House Economist Says Feds Rate Hikes Having Negative Impact On Banking Sector Yes, You Read It Right!

Photo: Thomas Hawk via flickr

Original post:

Elon Musk Sounds The Alarm On Economic Outlook Despite ... - Benzinga

One aspect of MrBeasts channel is his philanthropic work. The YouTuber has always strived to give whatever he earns from his video back to his community. His latest video also follows the same pattern. In this video, MrBeast provided cutting-edge hearing aids to 1000 deaf people.

Although what seems like a noble deed has come under fire from many users online. They are accusing him of using disabled people to gather views. Furthermore, this has started a very heated debate all over the internet. And a person accustomed to handling heat from hoards of internet haters has come to defend MrBeast.

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Recently, journalist Ed Krassenstein started a discussion on Twitter on the topic focusing on MrBeasts latest video. He spoke in favor of the YouTuber, stating he was doing good for the masses. Whether he was gaining subscribers or not should be of no concern to people. He thinks MrBeast himself would not be thinking about the subscribers gained from this video. He raised a question for the people targeting the YouTuber, saying, Shouldnt people who can be cured of deafness be taken care of?

The discussion got a comment from Elon Musk, who believed people should not be attacked for doing good. Furthermore, he accused people of looking at everything from a monetary standpoint and not by how much good it does.

The Twitter CEO has also wished to donate to the cause MrBeast showcased in the video.

Musk also shared that while he wishes to donate money, people always take it from the wrong perspective. It is very hard to donate money if you about it doing actual good, not merely the appearance of it, he said.

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This led to Krassenstein commenting MrBeast and Musk should talk the details out and arrange to help even more people. He partially joked, Maybe the first sound these people hear could be the launch of the next Starship test flight. Krassenstein has inadvertently shared what was in the hearts of many fans who want Musk and MrBeast to collab.

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What are your thoughts on Elon Musk coming to defend MrBeast? Let us know in the comment section below.

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Elon Musk Comes To The Rescue of MrBeast, Saves Him From the Criticism On His Recent Video - EssentiallySports

Meanwhile, demand is rising for magnets embedded in the tools of decarbonization, such as cars and wind turbines. Currently,12 percent of rare earths go into EVs, according to Adamas Intelligence, a market thats just now taking off. At the same time, rare earth prices have recently whiplashed due to internal Chinese markets and political interventions thatoutside companies cannot always predict.

All in all, if youre in a business where you can make an alternative work, it probably makes sense to do so, says Jim Chelikowsky, a physicist who studies magnetic materials at the University of Texas, Austin. But there are all kinds of reasons, he says, to look for better alternatives to rare earth magnets than ferrite. The challenge is finding materials with three essential qualities: They need to be magnetic, to hold that magnetism in the presence of other magnetic fields, and to tolerate high temperatures. Hot magnets cease to be magnets.

Researchers have a pretty good sense of what chemical elements can make good magnets, but there are millions of potential atomic arrangements. Some magnet hunters have taken the approach of starting with hundreds of thousands of possible materials, tossing out those with drawbacks like containing rare earths, and then using machine learning to predict the magnetic qualities of those that remain. Late last year, Chelikowskypublished results from using the system to create a new highly magnetic material containing cobalt. Thats not ideal, geopolitically speaking, but its a starting point, he says.

Often the greatest challenge is finding new magnets that are easy to make.Some newly developed magnets, such as those containing manganese, are promising, Vishina at Uppsala University explains, but also unstable. In other cases, scientists know that a material is extraordinarily magnetic but cant be create in bulk. That includes tetrataenite, a nickel-iron compound known only from meteorites that must slowly cool over thousands of years to precisely arrange its atoms into the correct state.Attempts to make it more speedily in the lab are ongoing but have yet to bear fruit.

Niron, the magnet startup, is a little further along, with an iron nitride magnet that the company says is theoretically more magnetic than neodymium. But it too is a fickle material, hard to make and preserve in a desirable form. Blackburn says the company is making progress but wont be producing magnets powerful enough to transform EVs in time for Teslas next generation of vehicles. First step, he says, is to put the new magnets in smaller devices like sound systems.

Its unclear whether other automakers will follow Teslas rare earth trade-off, Kruemmer says. Some might stick with the baggage-laden materials, while others go with induction motors or try something new. Even Tesla, he says, probably will have a few grams of rare earths sprinkled in its future vehicles, spread across things like the automatic windows, power steering, and windshield wipers. (In a possible sleight of hand, the slides contrasting rare earth content at Teslas investor event actually compared an entire current-generation car to a futuremotor.) Despite workarounds like those in the works at Tesla, rare earth magnets sourced from China will remain with usincluding Elon Muskespecially as the world pushes to decarbonize. It might be nice to replace everything, but as Kruemmer says, we simply do not have the time.

Excerpt from:

Tesla's Magnet Mystery Shows Elon Musk Is Willing to Compromise - WIRED