Elon Musk could become the world’s very first trillionaire by 2024

Jul 8 2022

Elon Musk is on his way to become the world’s very first trillionaire as the SpaceX CEO is likely to have it in the bag by 2024.

A financial technology firm has predicted the year that the world’s wealthiest people will become trillionaires, with 51-year-old Musk set to reach the milestone the first and the fastest.

Musk is already the richest person on planet Earth, with a fortune of $260 billion, but this number could reach the 12 zeroes in just two years. Financial firm Approve predicted that Musk will be the first person to do so, with businessman Gautam Adani right behind him.

However, Adani is set to reach the threshold a year later, followed by ByteDance Technology Company founder Zhang Yiming and Moet Hennessy Louis Vuitton chairman Bernard Arnault in 2029.

The profits for Musk are likely to come through SpaceX and not Tesla as the former is, according to analysts, ‘challenging any preconceive notion of what was possible.’ This comes as Musk’s deal to buy Twitter faces unprecedented challenges, possibly ending the chances of the purchase.

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Worker grievously injured due to falling metal from forklift

Jul 8 2022

Earlier today at around 1100hrs, police were informed that an accident had taken place in a warehouse located in the industrial zone of San Gwann.

From preliminary investigations, police found that a 61-year-old Birkirkara resident was on duty when he was struck by a piece of metal which fell as it was being carried by a forklift.

The man was given medical aid on site and then rushed to Mater Dei Hospital, where he was certified as having suffered grievous injuries.

Investigations are ongoing.

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Maltese property prices soar by 6.7% in first three months of 2022

Jul 8 2022

The property price index for Malta shot up by 6.7% in the first three months of this year when compared to the same period in 2021. However, it was still below the euro area average of 9.8%.

According to fresh data released by the National Statistics Office (NSO), the property price index (PPI) stood at 139.52.

The EU average was also substantially higher at 10.5%, as measured by the EU’s statistical agency, the House Price Index by Eurostat. The agency stated that this is the highest annual increase for the euro area since 2005.

In 2021’s fourth quarter, house prices rose by 9.4% and 10.1% in the Euro Area and EU respectively.

The PPI indicates the changes in price of purchased residential property. Compiled on quarterly bases instead of monthly, this ensures that all figures are substantiated through large samples. It only covers apartments, maisonettes and terraced houses.

Despite restricting itself to such property, price increases in these areas are indicative of developments in the market in general. In 2021’s first quarter, the PPI registered a 4.6% rise compared to the previous year.

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LESA wardens are officially back…and so are the fines

Jul 8 2022

The General Worker’s Union (GWU) has temporarily suspended the warden’s industrial action due to the offer of a much more ‘advantageous financial package.’

This comes after the GWU issued a directive for the LESA officers not to issue traffic fines, tow away illegally parked cars or other aspects of the job the wardens are tasked with.

The talks that had taken place with the agency over a new collective agreement failed and, after being told that the agency will not be held responsible for any accidents resulting from the directive, the GWU intensified the industrial action.

The Malta Developers’ Association then revealed that, due to no traffic diversion or road closures due to the directive, building development projects had to stop.

However, a Facebook post released Friday by the GWU said that, in the past few hours, developments in negotiations have been made and a better financial package is being offered. As the union evaluates the new package, the directives which went into force have officially been suspended from Friday 8th July.

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