Latest news with #BillGates'
Yahoo
30-07-2025
- Business
- Yahoo
'Amazon, It Has A Lot Of Strategic Value For Us' — Lumotive Scores $59M With Backing From Amazon, Oman's ITHCA Group
When Amazon (NASDAQ:AMZN) writes a check to a startup, headlines follow. The excitement rises further when Bill Gates' Gates Frontier investment arm is already on the cap table. Lumotive, a programmable optics startup based in Redmond, Washington, announced on July 22 that it has reopened its Series B round to add Amazon's Industrial Innovation Fund and Oman's ITHCA Group on its backers' list, boosting the total raised to $59 million. The company had previously secured $45 million in February, co‑led by Gates Frontier and MetaVC. Don't Miss: Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— $100k+ in investable assets? – no cost, no obligation. Lumotive's Light Control Metasurface Chips Could Disrupt LiDAR Industry Lumotive builds light control metasurface chips, which use nano‑scale pixels to steer and shape light electronically without moving parts. CEO Sam Heidari called the innovation "a paradigm shift... being able to manipulate the light electronically," according to TechCrunch. These solid‑state chips are smaller, cheaper, and more scalable than traditional light detection and ranging systems, with potential applications in autonomous vehicles, robotics, and optical switching in data centers, TechCrunch reports. Lumotive says its approach enables faster, more reliable 3D sensing for industries that require high‑performance solutions. According to TechCrunch, the startup began commercial chip sales in 2024, keeping its customer base intentionally small while proving its technology in real‑world deployments. Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can "This strategic investment reflects our confidence in Lumotive's world-class technology and its potential impact on the region," ITHCA Group CEO Said bin Abdullah Al Mandhari said in a statement. "Lumotive's presence in Oman strengthens our innovation ecosystem and supports national priorities across telecommunications, AI, and smart infrastructure." Amazon and Oman's ITHCA Offer More Than Just Capital Heidari told TechCrunch that strong investor interest prompted Lumotive to reopen the round for the two backers, saying, "Amazon, it has a lot of strategic value for us... We do appreciate the relationship more than the money." The Amazon Industrial Innovation Fund backs technologies that advance automation, robotics, and next‑generation industrial systems, according to Lumotive's statement. The investment from ITHCA Group, Oman's sovereign tech fund, reflects alignment with the country's digital transformation goals and its initiatives in AI and smart infrastructure. "With their programmable optical beamforming chips, Lumotive is building a critical foundation for the next generation of intelligent machines. We're excited to support their mission and see broad potential for their technology in industrial automation, robotics, and beyond," Amazon Industrial Innovation Fund Director Franziska Bossart said in the Expands With $59M to Scale Sales, Marketing, and R&D Founded in 2018 and spun out of Intellectual Ventures, Lumotive has raised more than $100 million in venture capital. Heidari told TechCrunch about the company's commercial readiness, stating, "It's a proven technology in the field. We knew that there is a big demand for it. Not only can it work, it can work in a deployable fashion." The latest funding, which also includes financing from Stifel Bank (NYSE:SF), adds to Lumotive's growing list of backers, such as EDOM, East Bridge, Grazia, HiMax (NASDAQ:HIMX), Hokuyo, Quan Funds, Swisscom Ventures, and TSVC, according to the statement. Read Next: Here's what Americans think you need to be considered wealthy. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Amazon, It Has A Lot Of Strategic Value For Us' — Lumotive Scores $59M With Backing From Amazon, Oman's ITHCA Group originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India.com
30-07-2025
- Business
- India.com
Meet Breakthrough, Microsoft founder Bill Gates' secret super yacht he never used, now up for sale for a whopping Rs..., the yacht is world's first...
Bill Gates' super yacht is reportedly worth $645 million. (File) Bill Gates, one of the richest men in the world, is known for his simplistic lifestyle, has disposed off many of his luxurious properties over the years, and now a lavish super yacht, reportedly owned by the Microsoft founder will be up for sale at Monaco Yacht Show 2025 for a shocking price. According to reports, the Breakthrough super yacht is the world's first liquid hydrogen-powered vessel, secretly owned by Bill Gates, but the tech billionaire has reportedly never used the luxury boat. Why Bill Gates' Breakthrough yacht is special? As per a New York Post report, Bill Gates' Breakthrough is the world's first hydrogen-powered net-zero super yacht, which runs on liquid hydrogen. The Gates' 'secret' yacht was reportedly designed by RWD under Project 821 and was built by Feadschiff in the Netherlands over a span of five years. The luxurious super yacht boasts seven decks, and all the luxury amenities money can buy, including a full-size basketball court, a movie theatre, a hot tub, a private hospital, a gym, a yoga studio, a beauty room, a massage parlor and a swimming pool. The vessel can accommodate 14 guests and 31 crew members, and has two 20 tonne vacuum-sealed tubes that are filled with hydrogen to provide power at a temperature of -253 degrees Celsius. What does the yacht use for fuel and warmth? The hydrogen fuel makes the Breakthrough yacht an eco-friendly vessel as it does not emit harmful gases unlike coal or diesel-powered boats, which is in line with Bill Gates' image as a vocal environmentalist. Interestingly, in the absence of coal and wood, the yacht uses gel-fueled fire balls to provide warmth to its guests on cold nights, thus remaining a carbon-neutral vessel throughout its journeys. How much does the Breakthrough yacht cost? According to the NY Post report, Bill Gates' super yacht costs an estimated $645 million (over Rs 5652 crore), and even though the billionaire has never officially acknowledged ownership, the yacht is believed to have been built under his instructions.
India.com
27-07-2025
- Business
- India.com
Rs 11239254000 mansion situated near Lake Washington is most precious for Microsoft founder Bill Gates due to...
(File) Microsoft founder Bill Gates, one of the richest men in the world, is known for his charity and simplistic lifestyle, and has donated a major portion of his wealth to charitable causes. However, there is one property he cherishes more than anything– Xanadu 2.0, Bill Gates' lakefront mansion home on Lake Washington– which he refuses to sell or downsize under any circumstances. Here's why. Why Bill Gates cherishes Xanadu 2.0? In multiple interviews, Bill Gates has revealed that he doesn't consider lakefront mansion as a just a house, but a private space full of old memories, technological innovations of that time and family heritage. The 69-year-old Microsoft co-founder says he feels a deep emotional connection to the house he spent years building, even though he is divorced and does not have any kids at home. Gates revealed that he isn't the least bit interested in downsizing or renovating the Xanadu 2.0 mansion, and even upgrading its interiors, because of what the famous mansion means to him at a personal level. The tech billionaire also revealed that his kids would often visit the lakefront mansion, making it a central family space. How much the Xanadu 2.0 worth? According to details, Bill Gates purchased the property for $2 million in 1988, and spent about $63 million over seven years to transform the house into a technological and architectural marvel. Currently, the Xanadu 2.0 is estimated to be worth over $130 million. The ultra luxurious estate, built on a hill, is spread over 66,000 square feet, and exemplifies Gates' lifestyle, values. and desire for privacy in a relaxed atmosphere surrounded by family and nature. The sprawling mansion features a swimming pool and a 2,500 square foot fitness center with a sauna, steam room and a 20-foot trampoline room.
Time of India
14-07-2025
- Business
- Time of India
Bill Gates' net worth drops $51 billion in one week; here's why the Microsoft co-founder is happy to give it away
The Bloomberg Billionaires Index updated its ledger on July 13 and wiped $51 billion off Bill Gates' fortune in a single stroke. One week earlier, he sat on an estimated $175 billion; the revision puts him near $124 billion, nudging him down to twelfth place globally. Tired of too many ads? go ad free now The plunge isn't the result of bad bets or a Microsoft sell-off gone wrong. Instead, it reflects Gates' plan to empty his pockets long before the undertaker knocks. In a May blog post, he vowed that no obituary would say he 'died rich,' and he gave his foundation a deadline of 31 December 2045 to distribute almost everything he owns. Bloomberg simply caught up with how aggressively those transfers have already begun. So while headlines shout 'loss,' Gates sees progress toward a promise that reshapes both the billionaire rankings and the future cash flow of the world's largest private charity. Bill Gates' net worth drops $51 billion Between 3 July and 10 July, Gates' listed wealth slid from $175 billion to $124 billion, a 29 percent haircut. Most of the shift comes from updated accounting of shares he has already earmarked—or outright transferred—to the Bill & Melinda Gates Foundation and related philanthropic vehicles. Because he still holds about 3.5 percent of Microsoft through personal and family trusts, day-to-day market moves matter, but the big swing this month is bookkeeping catching up with his give-away schedule. Date Bloomberg estimate Change vs. prior year Jan 2022 $128 B — Jul 2023 $155 B 0.21 Jan 2024 $117 B −25 % 3 Jul 2025 $175 B 0.49 10 Jul 2025 $124 B −29 % (Rounded figures; source – Bloomberg Billionaires Index) Bill Gates' pledge to give away 99 % of his wealth by 2045 In a May 8 essay, Gates wrote, 'There are too many urgent problems to solve for me to hold on to resources that could be used to help people.' He set a 20-year window to donate at least 99 percent of his remaining assets and to wind down the foundation by 2045. The commitment formalises what observers have called 'the long goodbye' to his billionaire status—only now the timeline is public and the pace is accelerating. Tired of too many ads? go ad free now Philanthropy in action: where the money is going Global health : The foundation funds vaccine programs for preventable killers like polio and rotavirus, efforts Gates says have already saved 'tens of millions of lives.' : The foundation funds vaccine programs for preventable killers like polio and rotavirus, efforts Gates says have already saved 'tens of millions of lives.' Agricultural resilience : Grants flow to drought-resistant seed research for sub-Saharan Africa. : Grants flow to drought-resistant seed research for sub-Saharan Africa. Climate adaptation: Recent pledges back low-cost solar and methane-reduction projects. Since 2000, the organisation has granted more than $100 billion and still holds an endowment of $77 billion, even after the latest transfers. Market moves, donations and the billionaire rankings Gates' slide pushed him below former Microsoft CEO Steve Ballmer, now worth about $173 billion and sitting in fifth place. Amazon's Jeff Bezos and Tesla's Elon Musk still dominate the top slots. Analysts note the rankings may yo-yo as Gates continues to vest shares or as Microsoft's price wiggles, but the directional trend is clear: philanthropy is winning the tug-of-war with personal net worth. Why Gates says he won't die rich The 69-year-old argues that capital stuck in a brokerage account is 'opportunity cost incarnate.' He points to stalled humanitarian progress—especially cuts in Western foreign-aid budgets—and insists private capital must fill the gap. Critics worry about outsized influence from one donor, yet even they acknowledge his cash is now the lifeblood of several global-health campaigns once bankrolled by governments. Potential ripple effects for tech and philanthropy Signal to other moguls: When one of the most famous billionaires accelerates giving, peer pressure follows. Watch for fresh commitments from the likes of Larry Page or Michael Dell. When one of the most famous billionaires accelerates giving, peer pressure follows. Watch for fresh commitments from the likes of Larry Page or Michael Dell. Foundation sunset clause: By setting a close date, Gates challenges the idea of philanthropic capital sitting in perpetuity; that could push regulators to rethink payout rules. By setting a close date, Gates challenges the idea of philanthropic capital sitting in perpetuity; that could push regulators to rethink payout rules. Microsoft shares supply: As more stock transfers to charity, the Gates Foundation will likely sell portions to fund grants, adding liquidity—but not enough volume to unnerve markets, analysts say. Related FAQs 1. How much is Bill Gates worth after the $51 billion drop? Bloomberg now pegs him at about $124 billion, ranking twelfth in the world. 2. Did Microsoft's stock crash cause the decline? No. The sharp adjustment reflects wealth Gates has already shifted toward his foundation, not market volatility. 3. What is his timeline for giving away 99 % of his fortune? He plans to complete the donations and close the Gates Foundation by December 31, 2045. 4. How much has the Gates Foundation donated so far? Since 2000, the foundation has granted more than $100 billion to health, education and climate projects. 5. Could Gates fall out of the billionaire ranks entirely? Yes—if he sticks to the 99 % pledge, most of his current wealth will move to charities over the next two decades, potentially leaving him with 'just' hundreds of millions.
Time of India
11-07-2025
- Business
- Time of India
Bill Gates' bold prediction: AI won't replace this career even after 100 years; can you guess it
Bill Gates' bold prediction: AI won't replace this career even after 100 years; can you guess it Bill Gates has spent almost fifty years pushing software forward, so when he says a single profession will stay human long after artificial intelligence rewires the rest of the economy, people listen. Speaking in early July, the Microsoft co-founder told interviewers that programming will 'remain a human job for at least a century'. He is not brushing off AI's power as the WEF (World Economic Forum) 2025 report projects automation could erase 92 million roles by 2030, while creating about 170 million new ones, but he draws a clear line around code. Writing software, he argues, is less about typing syntax and more about spotting unseen patterns, judging trade-offs and making a leap no algorithm can anticipate. AI can already draft snippets, debug routine errors and suggest architectural templates, yet the spark that turns a half-baked idea into working logic still comes from a person at a keyboard. Bill Gates' latest AI prediction Gates shared the view in separate conversations with The Economic Times and The Tonight Show, then echoed it during a podcast with Zerodha's Nikhil Kamath. Each time he circled back to the same point: tools like Copilot and ChatGPT are power chisels, not replacement carpenters. They shorten grunt work but leave the blueprint to us. Why programming, of all careers, stays human by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Providers are furious: Internet access without a subscription! Techno Mag Learn More Undo Code often starts with an ill-formed idea—say, turning sensor data into a flood-prediction dashboard. A machine can crunch numbers, yet deciding which signals matter and how the user will act on the output involves judgment, negotiation and a few flashes of intuition. Gates calls that the 'creative leap' AI cannot copy. Large models spit out plausible text, but a misplaced bracket or misunderstood requirement can crash a critical system. Spotting edge cases takes domain insight and lived experience, qualities still thin in training data. Gates says AI can help with 'boring stuff like debugging,' but final responsibility sits with a human reviewer. APIs are deprecated, laws shift, and users click in ways nobody predicted. The best programmers keep adapting code to fit messy reality. AI excels at frozen snapshots; humans excel at moving targets. Other jobs that Bill Gates thinks are safer Gates singles out biology and energy as disciplines where scientific curiosity, ethical trade-offs and crisis management require a person in charge. Sports, he jokes, will also stay human because nobody wants to watch robots play baseball. How does this prediction fit broader job-market numbers The World Economic Forum projects a net gain of +78 million jobs by 2030, despite losses in clerical and routine design roles. Programming sits on the creation side of that ledger, not because AI is weak, but because software problems keep mutating faster than the models that try to automate them. Related FAQs 1. What job did Bill Gates say AI will not replace? He said programming will remain human for at least the next hundred years. 2. Why does he think coding is safe? Gates argues that programming relies on creativity, judgment and deep problem-solving, traits he believes AI cannot fully mimic. 3. Can AI still help programmers? Yes. Tools can draft boilerplate code, suggest fixes and catch simple bugs, but humans guide architecture and make final calls. 4. Are any other careers safe according to Gates? He also lists biologists, energy experts and professional athletes as roles likely to stay human-led. 5. Does Gates dismiss AI risks? No. He acknowledges AI could displace millions of workers and says society must rethink how people use their newfound free time. Also read | Nvidia CEO Jensen Huang's net worth soars $1 billion as the chipmaker joins the $4 trillion club AI Masterclass for Students. Upskill Young Ones Today!– Join Now
