- SpaceX’s chief operating officer recently told investors its Starlink project would be the “right kind of business” to take public.
- That won’t be for a few years, but if Starlink does IPO, it could be enough to rocket Elon Musk past Jeff Bezos as the world’s richest founder.
- Here is some back of the napkin math for how it could happen.
SpaceX could spin off its Starlink business into a a publicly traded company. That’s what SpaceX chief Gwynne Shotwell told investors at a private meeting in Miami.
The satellite Internet project will likely be a cash cow without being a cash furnace like Tesla (NASDAQ:TSLA) and other tech companies. It’s exactly the kind of business investors want a piece of.
But it won’t go public any time soon. Probably not for several years. If it does though, it might be the added boost Elon Musk needs to overtake Jeff Bezos in the billionaire rankings. But he’ll also need that big Tesla payout to become the richest founder in the world. Here’s the math.
Jeff Bezos’ Net Worth Is $125 billion
It moves up and down based on Amazon stock (NASDAQ:AMZN) fluctuations but Jeff Bezos’ personal net worth is something like $125 billion this week. By contrast, Elon Musk “only” has around $38 billion to his name at the moment.
So he has a long ways to go to beat Jeff. And he would leap frog several other ultra-wealthy people to get there if he does. If he gets the mother of all bonuses from the extraordinary compensation package he negotiated in 2018, Musk could get within range of Bezos. A Starlink IPO could take him the rest of the way.
Musk has an extremely risky pay plan. But if it pays off, it’ll be the most lucrative executive compensation in history. If he builds Tesla into a $650 billion company by 2028, he’ll receive a cash bonus of $55.8 billion.
On top of that, equity compensation will grow his currently 19% stake in Tesla, to a whopper 28.3% stake. Assuming Musk doesn’t sell any of his Tesla stock between now and 2028, he would then own $184 billion in Tesla stock.
How Starlink Could Help Musk Top It
$184 billion would be enough to make Musk far richer than 2020 Jeff Bezos even accounting for (historically normal levels of) inflation. But Bezos is a moving target. Amazon has some big challenges ahead. But it won’t be sitting still for the next eight years.
Let’s assume a 10% annual growth rate for Amazon stock between now and 2028. That is a conservative estimate. Some analysts are saying shares could trade for $5,000 by 2025. That is an unusually bullish forecast.
But Amazon’s annual ROI has been far more than 10% over the last eight years. And it’s an ultra-large cap tech company with monopolistic qualities and enormous upside potential in its cloud business. So the historical average 10% ROI of the benchmark S&P 500 is a bearish forecast.
If Amazon merely grows 10% a year between now and 2028, Jeff Bezos’ 59.1 million AMZN shares will be worth around $263 billion. That would dwarf Musk’s potential 2028 net worth by $79 billion.
Here’s where SpaceX and a Starlink IPO comes in. Elon Musk owns about 54% of SpaceX, which is equivalent to about $18 billion. Assuming a 10% yearly ROI on that, same as for Amazon above, Musk’s share in the space firm will be worth around $38.5 billion in 2028.
He would be just $40.5 billion short of catching up to Bezos. Starlink could make up the difference. Estimates are it could cost as little as $10 billion to deploy. And could rake in as much as $50 billion a year. That’s more than AT&T’s DirecTV, which AT&T (NYSE:T) bought in 2015 for $67 billion.
Now we’re talking about numbers that could take Elon Musk to that number one spot. If a Starlink IPO values the satellite Internet company at $75 billion by 2028, Elon Musk could be the richest founder in the world.
Disclaimer: The reports and opinions in this article do not represent investment or trading advice from CCN.com.
This article was edited by Sam Bourgi.
Last modified: February 7, 2020 5:50 PM UTC
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Author: W. E. Messamore
It has been a wild day for Bitcoin, with the cryptocurrency flying past the intense resistance it previously faced between $9,800 and $10,000, with its movement into the five-figure price region sending chills down the spines of BTC bears.BTC is now fast approaching its weekly close, which will be a critical event that offers insight into the long-term significance of this movement, as a close above $10,000 will highly favor bulls.Analysts are now noting that the cryptocurrency is on the cusp of entering its next parabolic cycle, which could suggest that it is about to see some major near-term gains.Bitcoin Stabilizes Above $10,000 as Weekly Close Approaches At the time of writing, Bitcoin is trading up just under 3% at its current price of $10,100, which only marks a slight decline from its daily highs of $10,200.Because the cryptocurrency has been able to maintain the gains it incurred yesterday evening, it does appear that this latest upwards movement is much more than another fleeting rally, as it suggests that bulls currently have some major underlying strength.The key event that is currently looming on the horizon is Bitcoin’s weekly close, which is set to occur in just a few mere hours.Teddy, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that on a macro timeframe, a weekly close above $10,000 would be highly bullish for Bitcoin.“BTC: Weekly range: – Trading above the range resistance – Testing a higher high. On larger timeframes, a successful close here would confirm a change in trend,” he explained while pointing to the chart seen below.#BITCOIN | $BTCWeekly range:– Trading above the range resistance
– Testing a higher highOn larger timeframes, a successful close here would confirm a change in trend__(Shorter TFs can still correct – BTFD season) pic.twitter.com/YHbUatsj6i— TEDDY (₿) (@TeddyCleps) February 9, 2020
BTC Is About to Enter Yet Another Parabolic Cycle A bullish weekly close could further validate the strong possibility that Bitcoin is about to enter its next major parabolic phase, as it does appear that BTC is currently reaching a critical level that has historically preceded parabolic rallies.Mr. Anderson, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that BTC is being bolstered by a key multi-year trendline, and it is about to propel past a multi-month descending resistance.“BTC: I love it when a good plan comes together. I had this one drawn out 6 months earlier. But, you can check the date on the Chart for when this became scenario ‘A’” he noted while referencing the key levels seen on the below chart.$BTCI love it when a Good Plan comes togetherI had this one drawn out 6 months earlier. But, you can check the date on the Chart for when this became scenario “A”However, there are no crystal balls. The key is to have pts of failure & tangent plans from your pts of failure pic.twitter.com/ULZv0uSr0s— Mr. Anderson (@TrueCrypto28) February 9, 2020
The coming few hours will be critical for determining Bitcoin’s future trend, as it does appear that the upcoming weekly close could be one of the most important the crypto has seen in ages.Featured image from Shutterstock.
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Author: Cole Petersen
- The Argentinian superstar has made his feelings known about how things are at Barcelona.
- His contract is due up next summer, with every top club in Europe poised to make an offer.
- Juventus are readying themselves to offer Messi the chance to link up with Ronaldo in a dream-team scenario.
It seems the discussion around Lionel Messi and his footballing future will be a source of constant speculation over the next few months.
He’s currently contracted to Barcelona until the end of June next year, but there is reportedly a clause in his deal that would allow him to walk away for free this summer.
If Lionel Messi decides to move, where could he go?
Realistically, there are a handful of teams who could hope to match his current $33 million per year contract, or even improve upon it.
If a move came about, it’s highly likely he’d end up at one of Manchester United, Manchester City, Inter Milan, Paris Saint-Germain or Juventus.
Although many fans deem City to be his most likely destination, despite Pep Guardiola playing such an idea down, the most intriguing has to be Juventus.
Fantasy football come true?
The very idea of having a team that includes both Cristiano Ronaldo and Lionel Messi seemed like the stuff of fantasy football dreams not so long ago.
Now it could become a reality, according to reports.
Ronaldo’s move to the Italian giants in 2018 came as something of a shock, with the Turin club paying a fee of $110 million, and a yearly contract of $35 million.
His current deal will see him remain at the club until the summer of 2022.
Ronaldo and Messi may seem like fantasy football, but it would quickly become a nightmare
Let’s put aside the dreamy fantasy of having Lionel Messi and Ronaldo line up together on the same team. That’s fine when you’re playing FIFA video games, but in real life, it doesn’t quite work like that.
The competitive nature of Ronaldo and Messi’s relationship was there for all to see when they were playing in the same league. Can you imagine if they were sharing a dressing room?
Neither man’s ego could allow the other to get the upper hand.
If Messi becomes subject to a contractual bidding war of sorts and eventually signed for Juventus for a yearly salary of more than $35 million, things could get ugly. Would Ronaldo be looking to renegotiate his deal? Or would he be happy enough to accept less than his rival?
These two players could not co-exist together
The competitive nature of both wouldn’t allow it to happen. They have both become used to being the main focus at the clubs they play at, and that would prove problematic.
Ronaldo and Messi are continually competing in every aspect. Even if the players themselves aren’t too focused on it, the media ensures there is a heated rivalry in every aspect.
As much as football fans would love to see this combination happen, it would just be too much for one club and one dressing room to handle.
Disclaimer: The opinions expressed in this article do not necessarily reflect the views of CCN.com.
This article was edited by Sam Bourgi.
Last modified: February 8, 2020 3:19 PM UTC
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Author: David Cullinan
Universal 2nd Factor (U2F) is an open standard for strengthening two-factor authentication. It involves the use of a physical key to reinforce 2FA, hardening your online accounts from attack. In this guide, we’ll explain how to use a Yubikey to lock down your exchange account, email account, and other valuable online accounts.
U2F Is Physical 2FA for the Security Conscious
If you’re at heightened risk of online attack, say, cos you’re a sysadmin or cryptocurrency trader, you should take steps to secure your accounts. Most bitcoiners already use 2FA, such as the Google Authenticator app, to secure their crypto accounts. U2F takes that to another level by mandating use of a physical key that is inserted into the USB port of your device, or held in proximity to your smartphone if it’s an NFC key. Even in the event of malware being installed on your computer, or your 2FA recovery codes being stolen, a U2F key should keep attackers at bay.
For the purposes of this guide, we’ll be using a Yubikey, one of the most popular devices on the market. (Google, for its part, also recommends the Feitian keys.) Manufacturer Yubico boasts “Zero recorded account takeovers in 11 years” because “the physical key requires a human touch and cannot be remotely hacked.” Lose your key, however, and things get a little complicated, since unlike Google Authenticator, Yubikeys don’t come with recovery codes. We’ll troubleshoot that problem shortly, once we’ve covered the basics.
One Key to Secure Them All
Yubikeys retail for around $50 apiece and, like hardware wallets, are best ordered direct from the manufacturer to prevent tampering. Yubico supplies a range of keys including a Nano version whose compactness makes it suitable for leaving permanently plugged in to the USB slot of a trusted desktop computer. The 5 series is the range that most consumers will opt for. They’re designed to secure Google, Microsoft, Github, Dropbox, Facebook, Twitter, and Lastpass accounts, as well as various crypto related platforms.
Yubico works with Binance, Bitfinex, Bitmex, Kraken, and hundreds more companies across dozens of industries. Attend any developer-oriented crypto conference and you’ll see U2F keys plugged into laptops and dangling from keychains worn by delegates. You don’t have to be in charge of your team’s Github repo to warrant a Yubikey, however – simply holding crypto on a centralized exchange can be cause enough. Plus, in an era of NFC, biometrics, QR codes, and contactless payments, it feels badass to be carrying a physical key with magical powers.
Using Your U2F Key
If you’re intent on locking down your accounts with the aid of a Yubikey or similar U2F device, the first place to start is your email. If you’re a Google user, the Advanced Protection portal will guide you through the process. Other email providers including Protonmail also support the U2F protocol.
Next, you should secure your cryptocurrency accounts, including any exchanges you trade on, in the same manner. Add a Yubikey to your Binance account, for instance, and you’ll be prompted to plug it into your computer every time you log in or withdraw. It effectively replaces the 2FA you will have been using up until now.
If you’re wondering what happens if your U2F key is lost, broken, or stolen, many sites will let you pair multiple keys, providing redundancy in the event of key loss. Unfortunately, Binance is not one of them. Lose your key and you’ll need to initiate Binance’s account recovery process, which may take a few days to complete and will require alternate verification.
U2F keys aren’t perfect, then, or to be more accurate, there are situations where their security model comes at the expense of convenience. If you’re intent on using one, though, that’s a sacrifice you’ll be willing to make in the quest of greater security. Where possible, pair two U2F keys with each of your online accounts, and keep your master key securely stored on a chain at all times. Once implemented, using a U2F key every time you log in will become second nature.
What’s your experience of using U2F keys? Would you recommend them? Let us know in the comments section below.
Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Images courtesy of Shutterstock.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.
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Author: Kai Sedgwick
Following the outstanding gains since the turn of the year, sentiment across the entire market has flipped bullish. None more so than for XRP, which managed to break a two-year downtrend by breaching the $0.28 level.Indeed, with 2019 being a year to posted the chart below. It shows XRP’s recent performance has brought it within a USD price band established in August 2018. He also noted that a two-year downtrend against BTC has been broken.
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Author: Samuel Wan