HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Reviews Readiness of Reserve Forces in Abu Dhabi

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  Dubai’s visionary Crown Prince, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, who also serves as the Deputy Prime Minister and Minister of Defence, recently visited the Reserve Forces Command in Abu Dhabi. The visit underscored the UAE’s unwavering commitment to bolstering its national defence capabilities and ensuring the highest standards of military preparedness. During his tour, Sheikh Hamdan closely reviewed the operational readiness and strategic capabilities of the Reserve Forces. He commended the personnel for their exceptional dedication and contributions to the security and stability of the nation. His Highness was briefed on the latest training methodologies and technological advancements integrated into the force, reflecting the UAE’s forward-thinking approach in the defence sector. The visit also served as an opportunity to appreciate the achievements of the Reserve Forces in reinforcing the nation’s defence framework. Their unwavering commitment plays a cruci...
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Elon Musk, Mark Zuckerberg And Jeff Bezos Lose $60 Billion Of Their Wealth

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Elon Musk

The three richest businessmen lost their wealth by $60 billion in the first 6 months of 2022. Tesla founder Elon Musk's fortune fell by almost $62 billion, Amazon CEO Jeff Bezos' money fell by almost $63 billion, and Facebook co-founder Mark Zuckerberg's fortune fell by more than half in the first half of 2022.

According to the Bloomberg Billionaires Index, the world's 500 wealthiest people lost $1.4 trillion in the first half of 2022. This is the largest six-month decrease in the global billionaire class's history.

The reason for this drop in the wealth of billionaires is the Covid-19 pandemic. Actually, the index said that the governments and central banks unleashed unprecedented stimulus measures in the wake of the Covid-19 pandemic, which affected businesses.

Stock markets have faced some of their worst days this year due to the Russia-Ukraine conflict and rising inflation across the world. The government has also raised interest rates to battle rising inflation amid the Russia-Ukraine war, and the billionaires who hold stocks and highest-flying shares are rapidly losing their money. Investors have lost trillions of dollars in the stock market this year.

What happened to big tech companies?

Tesla Inc had its worst quarter ever in the three months ending June. Shares of Tesla sank to an 11-month low in May 2022. Musk lost a lot of money in the first 6 months of 2022. Despite losing more than $60 billion in wealth, he is the richest man in the world. According to Forbes, his wealth is around $203 billion.

Amazon’s Bezos is the second richest man in the world, with a $129.6 billion net worth. The index further ranked France’s richest person Bernard Arnault in the third position, with a $128.7 billion fortune. Bill Gates is the fourth richest man in the world, with $114.8 billion

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