The world’s wealthiest individuals have become even richer during the coronavirus pandemic as the prices of financial assets have been supported by widespread policy intervention while employment and wages, well, not so much.
The richest five billionaires, Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett, and Elon Musk, saw a 59% increase in their total wealth, from $358 billion to $569 billion.
A nuclear energy venture founded by Bill Gates said Thursday it hopes to build small advanced nuclear power stations that can store electricity to supplement grids increasingly supplied by intermittent sources like solar and wind power. Reuters reports:
The effort is part of the billionaire philanthropist’s push to help fight climate change, and is targeted at helping utilities slash their emissions of planet-warming gases without undermining grid reliability. TerraPower LLC, which Gates founded 14 years ago, and its partner GE Hitachi Nuclear Energy, plan to commercialize stations called Natrium in the United States later this decade, TerraPower’s President and Chief Executive Chris Levesque said.Levesque said the companies are seeking additional funding from private partners and the U.S. Energy Department, and that the project has the support of PacifiCorp, owned by billionaire Warren Buffett’s Berkshire Hathaway, along with Energy Northwest and Duke Energy. If successful, the plan is to build the plants in the United States and abroad, Levesque said. By 2050 “we would see hundreds of these reactors around the world, solving multiple different energy needs,” Levesque said. The 345-megawatt plants would be cooled by liquid sodium and cost about $1 billion each.
The new plants […] are designed to complement a renewable power because they will store the reactor power in tanks of molten salt during days when the grid is well supplied. The nuclear power could be used later when solar and wind power are low due to weather conditions. Molten salt power storage has been used at thermal solar plants in the past, but leaks have plagued some of the projects. Levesque said the Natrium design would provide more consistent temperatures than a solar plant, resulting in less wear and tear.
In 2018 the most-downloaded iPhone app was YouTube, reports USA Today, while Amazon’s best-selling item was their Fire TV Stick for streaming video. The No. 1 earner on YouTube this year is 7-year-old Ryan. For all those unboxing videos and playing with toys — and his own new line of toys at Walmart — he and his family will pull in a cool $22 million, according to Forbes. Ryan launched the channel in 2015 — when he was four — and now has 17.3 million followers.
Taking their cue from Elon Musk colonizing Mars, Peter Thiel reversing the aging process, or Sam Altman and Ray Kurzweil uploading their minds into supercomputers, they were preparing for a digital future that had a whole lot less to do with making the world a better place than it did with transcending the human condition altogether and insulating themselves from a very real and present danger of climate change, rising sea levels, mass migrations, global pandemics, nativist panic, and resource depletion. For them, the future of technology is really about just one thing: escape…