Elon Musk — $100 Million Prize for New Carbon Capture Technology Announced

  • “Am donating $100M towards a prize for best carbon capture technology,” Musk tweeted to his 42.7 million followers.
  • Capturing these planet-warming emissions is a fundamental part of many other plans to keep climate change under control, but little progress has been made in technology to date.
  • According to the Bloomberg Billionaire Index, Musk has a total net worth of $201 billion, while Bezos has $193 billion. Microsoft founder Bill Gates is the next wealthiest person, with a total net worth of $134 billion.

The founder of the electric vehicle manufacturer Tesla, Elon Musk, has announced that he will offer an award of 100 million dollars ( about 82 million euros at the current exchange rate ) for an individual or group of individuals that would come up with the best carbon capture technology.

Elon Musk announces $100 million prize for new carbon capture technology.

The information was released by Musk via his official Twitter social network account. “Am donating $100M towards a prize for best carbon capture technology,” Musk tweeted to his 42.7 million followers.

Despite the announcement, the billionaire has not given more information in regard to his award and has indicated that next week he will give more details.

Carbon capture is the process of trapping residual carbon dioxide either directly from the air or just before it is emitted from factories and power plants.

Capturing these planet-warming emissions is a fundamental part of many other plans to keep climate change under control, but little progress has been made in technology to date.

This announcement came just weeks after he became the world’s richest person, surpassing Amazon founder Jeff Bezos and Microsoft founder Bill Gates.

Tesla positioned itself as the vehicle manufacturer that increased the price of its shares the most this year, multiplying it by more than eight, going from around $86 at the beginning of 2020 (about 70 euros at the current exchange rate) to cost more than $705 ( 574 euros). Currently, the firm is worth 201.4 billion dollars (more than 165.425 million euros).

TOURIST TRIPS TO MARS IN 2024?

Tesla and SpaceX CEO and CEO Elon Musk has made perhaps the most charitable move: he has promised a reward of one hundred million US dollars (approximately 2.1 billion Czech crowns) as a reward for the best carbon capture technology.

Musk is adamant that his company’s first manned mission to Mars may occur in 2024, as he has been claiming for years. In an interview on the occasion of his visit to Berlin to collect the Axel Springer 2020 award, he said that he is “very sure” that SpaceX will launch people towards the Red Planet in 2026, adding that the milestone could arrive as early as 2024 “if we have luck”.

The two-year target intervals are dictated by orbital dynamics: Earth and Mars align favorably for interplanetary launches only once every 26 months, reports Space.com.

GET RID OF ALL HIS PROPERTIES

In May, the tech CEO announced on Twitter, that he was getting rid of virtually all his material possessions. “I am selling almost all physical possessions. Will own no house.” And now, eight months later, Musk is making good on that promise, completing the sale of his last three homes all located in a Bel-Air cul-de-sac for a combined total of $40.9 million, according to The Los Angeles Times

According to the Bloomberg Billionaire Index, Musk has a total net worth of $201 billion, while Bezos has $193 billion. Microsoft founder Bill Gates is the next wealthiest person, with a total net worth of $134 billion.

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Vincent Ferdinand

News reporting is my thing. My view of what is happening in our world is colored by my love of history and how the past influences events taking place in the present time.  I like reading politics and writing articles. It was said by Geoffrey C. Ward, "Journalism is merely history's first draft." Everyone who writes about what is happening today is indeed, writing a small part of our history.

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