If there is one thing Jeff Bezos (Amazon), Bill Gates (Microsoft) and Elon Musk (Tesla, and now also Twitter) have in common, it is that they have money, heaps of money. In addition to all three owning tech companies, they now also have another common business: cobalt. KoBold Metals, a mineral exploration company in which they all have a stake, has announced that it will drill in Greenland for materials used in electric vehicles, such as cobalt and nickel.
These elements, known as the minerals of the future, have become highly prized. The company relies on artificial intelligence and machine learning to find them. Last year, KoBold took a 51% stake in the Disko-Nuusuaq project on the West Greenland seabed. To do so, they will use drones to conduct a high-resolution magnetic survey of the area.
The objective is to drill about 3,000 meters this year, at depths between 150 and 400 meters, where these metals are found. Specifically, cobalt has in recent years become a vital component in the transition to a greener, more environmentally friendly world.
Price of cobalt soars
This is why, as a result, its value has soared: from $29,000 per metric ton in July 2020 to $82,000 today. It’s not for nothing, it is present in many of today’s hi-tech products: making up around 30 percent of lithium-ion batteries found in products ranging from iPhones to Tesla cars. And by the end of this decade, the market for electric vehicles and consumer electronics is expected to triple.
The problem, now, is that there is not infinite supply. And it’s something that comes into direct conflict between the major powers, especially between China and the United States over economics. “The objective is to target massive nickel, copper, cobalt and platinum group metals,” Bo Steensgaard, CEO of Bluejay Mining which operates the project, told Reuters.
Most electric batteries in the U.S., Canada and EU are nickel-cobalt-manganese (NCM) cells. But a cheaper alternative, already popular in China, is finally winning some global appeal https://t.co/1TjD65QDrjpic.twitter.com/IALjVgTFTd
Nickel rises in price because of the Russia’s war in Ukraine
Another sought-after mineral, nickel, which is used in stainless steel and electric car batteries, has risen in price. In fact, it has doubled following President Vladimir Putin’s sending his military into Ukraine. Russia supplies about 10% of the world’s needs for this metal “The recent unfortunate geopolitical developments clearly show that the Western world needs new deposits of these critical metals,” Steensgaard asserts.
KoBold has significant financial backing behind it, thanks to a contribution from Andreessen Horowitz, one of Silicon Valley’s leading venture capital funds. In 2019, this allowed it to have funding available for four years. Since then, it has been carrying out explorations at various locations, including Greenland.
From @SPGMarketIntel: The mining industry is struggling to establish safe labor and environmental practices for Congo's artisanal cobalt sector, six years after Amnesty International flagged child labor issues and other human rights abuses: https://t.co/amb9JuxfaYpic.twitter.com/Wf2p3qTH0D
Forecasts of increased demand could grow investments in exploration, in turn attracting new projects. “To accomplish that lofty goal we must accelerate our efforts to find the key materials for the electric vehicle revolution,” explains Kurt House, KoBold CEO.
Elon Musk, Bill Gates, Jeff Bezos And Retail Investors All Have One Thing In Common: They're Investing Millions In Brain Technology Startups - Benzinga.
Musk is famously worried about AI overtaking humans and is reported to have invested in DeepMind not to make money but to stay abreast of how rapidly the technology behind AI is developing.
Bezos' mind apart from rockets and satellites. Some big ticket names among Bezos' investments are Uber Technologies, Inc.(NYSE:UBER), Workday, Inc.(NASDAQ:WDAY), and Denali Therapeutics Inc.
The founder of Amazon has rumoured to own both Bitcoin and Etthereum. However, Jeff Bezos did not clarify it himself. Besides, Amazon denied accepting Bitcoin or any other crypto as a payment option. Bill Gates has not confirmed but hinted at owing Bitcoin.
You can't buy Blue Origin stock right now, but you can invest in Amazon, Lockheed Martin, or Northrop Grumman, all of which are working with Blue Origin and are likely to have some degree of correlation to the future Blue Origin stock price.
Zuckerberg invests in startups, real estate, and causes through the Chan Zuckerberg Initiative. Mark's personal investments focus on cause-driven projects, while Meta Platforms acquires potential rivals. He has a $320 million real estate portfolio with properties in Palo Alto, San Francisco, Lake Tahoe, and Hawaii.
DeepMind is a subsidiary of Alphabet, which means you can invest in DeepMind by buying Alphabet stock. Alphabet is a publicly-traded company, and its stock is available on the NASDAQ exchange under GOOGL or GOOG.
One of the common habits that Bill Gates, Elon Musk and Jeff Bezos share: learn something new every day, even if it is for at least two minutes a day, a way to maintain creativity and an active brain.
Bill Gates said he had doubts about Elon Musk being able to replicate the success of Tesla and SpaceX with Twitter. Billionaire philanthropist Bill Gates has expressed doubts about Tesla CEO Elon Musk's plans for Twitter, warning about the possibility of him making the platform worse, The Wall Street Journal reported.
A year later, he co-founded one of his most well-known companies — electric car manufacturer Tesla (TSLA). It is this business, in particular, that's behind Musk's stratospheric rise up the global rich lists, with shares reaching around $400 at their peak in November 2021.
Who is the richest man in the world? As of July 1, 2023, the richest man in the world is Elon Musk, the CEO of electric car company Tesla; he's worth $237.7 billion. He moved into the number one spot in June, overtaking Bernard Arnault of France.
Because the company is privately owned and funded, you are currently unable to invest in Neuralink. Moreover, the company has relied on significant investments from private entities. Among them is Elon Musk himself. Thus, it has yet to transfer its operations to become a publicly traded company.
The startups receiving funding from Musk are in fintech, AI, and IoT, industries that are rapidly growing in Africa. Fintech has become particularly popular in Kenya, with the country being a leader in mobile money payments.
For a more diversified approach to investing in Elon Musk's ventures, consider exchange-traded funds (ETFs) that include companies associated with Musk. These ETFs provide exposure to multiple stocks while capturing the essence of Musk's visionary mindset.
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