The Billionaire Bet on Nuclear Energy
A Common Thread Among Tech Giants
What do Jeff Bezos, Bill Gates, and Sam Altman have in common? Apart from being billionaires and leading technologically innovative companies, they share a lesser-known interest – investing in nuclear energy.
The Net Worth Factor
Bezos, the wealthiest of the trio, has a net worth of around $226 billion. Gates, despite giving away a significant portion of his fortune, still holds a net worth of over $105 billion. Altman, with a net worth of $1 billion, rounds out the group.
Nuclear Energy Investments
Bezos, although no longer Amazon’s CEO, remains the executive chair of the company’s board of directors and a significant shareholder. Amazon has inked deals to develop small modular reactors, a new type of nuclear reactor. Additionally, Bezos backs General Fusion, a Canadian company working on nuclear fusion technology.
Gates, as Microsoft’s chairman of the board, has invested in nuclear energy through a deal with Constellation Energy to reboot the Three Mile Island nuclear plant. He also founded TerraPower, a company focused on developing advanced nuclear energy technology, and invested $1 billion in a new nuclear power plant.
Altman, apart from running OpenAI, has invested in nuclear energy start-up Oklo, where he serves as chairman. Oklo designs advanced nuclear fission power plants that can use nuclear waste as fuel.
The Driving Force Behind Nuclear Energy
The growing demand for electricity, fueled by the boom in data centers and artificial intelligence, is driving the resurgence of nuclear energy. Tesla CEO Elon Musk predicts a supply shortage of electricity as soon as next year due to AI and electric vehicles.
Why Nuclear Energy Makes Sense
Building new power-generating plants using fossil fuels isn’t ideal due to climate change concerns. Renewable energy alternatives like wind and solar have limitations, whereas nuclear energy addresses these limitations by being always available and more scalable.
Should You Invest in Nuclear Energy?
While investors shouldn’t blindly follow billionaires, Bezos, Gates, and Altman may be onto something big with their investments in nuclear energy. There are nuclear energy stocks suitable for various investment styles, from aggressive growth to income investing.
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