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Billionaire Elon Musk, the world’s richest person, is nearly halfway to becoming the planet’s first trillionaire, Forbes magazine reported Wednesday.

The Tesla and SpaceX CEO became the first person to achieve a net worth of $500 billion, briefly, as the shares in his electric vehicle company rebound from his clumsy stint in politics, amid other gains.

The 54-year-old’s net worth hit $500.1 billion Wednesday before dipping back to $499.1 billion, the publication’s ‘Real-Time Billionaires’ tracker reported. Ranked after him are Oracle CEO Larry Ellison with a net worth of $350.7 billion, followed by Meta CEO Mark Zuckerberg with a net worth of $245.8 billion on the Forbes list.

After graduating from the University of Pennsylvania and dropping out of Stanford University, Musk banked his first millions when he sold an online publishing software company to US computer maker Compaq for more than $300 million in 1999.

His next company eventually merged with PayPal, and after leaving that venture, the South African-born tech entrepreneur founded space rocket company SpaceX in 2002 and became the chair of electric carmaker Tesla in 2004.

Anyse ‘Marlee’ Smith is ready to step up for fan favorite Choco Mucho in the PVL Reinforced Conference starting Tuesday at Ynares Center Montalban.

From having a dazzling stint with Thai club Nakhon Ratchasima in the AVC Champions League hosted by the Philippines last May, Smith looks forward to taking her talent with the Flying Titans.

‘I’m just here to do my job, show my support, be a good team player, and be a leader. I want to win,’ said the American opposite hitter.

‘You will see a very compassionate, very committed Marlee this time around. I feel like I did a big one, the first time, but I want to leave with an even bigger impact this time.’

Smith, who played for North Texas University, also relished the welcoming team of coach Dante Alinsunurin and their fan base. ‘The transition has been fairly easy because my teammates are very welcoming. I felt very supported since I got here. I actually really, really love my team,’ she said. ‘I love the supporters here. I feel like the fans definitely give us a run for our money. They’re there to support us. They’re there when we’re down, and they’re there when we need them. So I just want to say we appreciate all of you.’

Smith will be leading the Flying Titans, who last reached the PVL final in the 2024 All-Filipino Conference and reached the semifinal in the previous one.

Maddie Madayag and Kat Tolentino are returning to boost the Flying Titans, who will still miss Sisi Rondina due to her commitment to Alas Pilipinas.

Meanwhile, Akari, the runner-up of last year’s Reinforced, will field Annie Mitchem as its import.

The 31-year-old American outside hitter is bringing her experience from Jakarta Livin Mandiri in Indonesia, Italy, Turkey, and Brazil following her collegiate career at the University of Hawaii.

Capital1 parades Ukrainian Oleksandra Bytsenko, a 29-year-old outside spiker.

MANILA, Philippines-Pureblends Corporation said it has all the intentions of putting up a competitive roster in due time for its PBA team that will be known as the Titan Ultra Giant Risers.

Team governor Emil Tiu admitted that Titan Ultra will be up for a tough task ahead of the upcoming season, but plans to build from what it can gain once it treads the difficult waters of the PBA. ‘We know we are a new team and you can’t be a champion team in one year,’ Tiu said during Wednesday’s press conference at Shangri-La The Fort in Bonifacio Global City. ‘But we will look to develop good players within two to three years.’

Titan Ultra does have a solid core led by veteran Calvin Abueva, Joshua Munzon, Cade Flores and Von Pessumal, while also having Ateneo product Chris Koon, taken fourth in the Draft when NorthPort had to take part in the Rookie Draft while the sale was pending approval.

Former Terrafirma coach Johnedel Cardel returns to the sidelines to call the shots for Titan Ultra’s rookie campaign.

The Giant Risers were officially welcomed into the PBA fold during the press conference, a month after Pureblends agreed to purchase NorthPort’s basketball assets for a reported P90 million.

The team was still called NorthPort during tune-up matches, while its players had to wear white shirts during Media Day activities as the Pureblends purchase had yet to be approved.

‘It was approved during the annual meeting [in Las Vegas], they just had to complete some documentary requirements,’ explained league treasurer and Phoenix team governor Raymond Zorrilla.

‘But between NorthPort and Pureblends, they had to agree within themselves. We just needed formality,’ added Zorrilla.

Meanwhile, Titan Ultra is set to make its first official deal with guard James Kwekuteye set to be traded to Phoenix for center Ato Ular.

Bracing for tighter supply due to pest infestation and weather disruptions, the Sugar Regulatory Administration (SRA) has ruled that the country’s entire sugar production in the current crop year would be for domestic use.

In Sugar Order No. 1 for crop year 2025-2026, the SRA estimated that local sugar production would go down by 7.9 percent to 1.92 million metric tons (MT) from the output in the previous crop year.

Sugar crop year in the Philippines begins in September and ends in August of the following year.

The SRA is anticipating ‘a possible decrease’ in sugar harvests due to the ongoing red-striped soft scale insects (RSSI) infestation and excessive rainfall in Negros. ‘I would agree with those estimates. We never imagined the damage caused by RSSI was that extensive. Hopefully, we can recover this coming crop year,’ United Sugar Producers Federation of the Philippines president Manuel Lamata said in a Viber message.

Local consumption

Given this situation, the SRA designated all sugar production this crop year for domestic consumption.

Every crop year, the SRA issues a sugar order to determine the allocation for locally produced sweetener.

In the past planting seasons, the SRA also earmarked all production for domestic consumption, as production was insufficient to meet demand. The country has relied on importation to plug any supply shortage.

The last time that the SRA set aside a portion of local sugar output was in crop year 2020-2021. At that time, 93 percent of the production was given to the domestic market, while the remaining 7 percent was reserved for the US market. Infestation

The SRA previously said the RSSI, first observed in plantations in Luzon in 2022, could reduce the sugar content of infested sugarcanes by as much as 50 percent.

It reported the first RSSI case in May, affecting some farms in Negros Occidental. Since then, the pest-which can cause yellowing leaves, stunted growth and shortened internodes-has spread to adjacent areas.

Last month, the SRA announced an intensified partnership with Hawaiian-Philippine Company to develop an organic and eco-friendly pest management solution to curb the infestation.

Creamline will continue to miss Jia De Guzman when it resumes its campaign in the upcoming PVL Reinforced Conference.

Owing to a management decision, De Guzman will once again sit out another conference for the Cool Smashers as she continues her full-time commitment to Alas Pilipinas, which is eyeing to end a 20-year medal drought in the 33rd Southeast Asian Games in Thailand in December.

‘Of course, it’s impossible not to feel the loss. Jia is different. She’s battle-tested and a big factor in games. We’ll always feel that it’s a missed opportunity not having her. But maybe it’s just not the right time yet. Hopefully, by next year,’ Creamline coach Sherwin Meneses told the reporters in Filipino.

Meneses, though, remains confident with his team roster with four-time Best Setter Kyle Negrito, who has stepped up her game since the eight-time winner De Guzman took her act to Japan last year, as well as Rhea Dimaculangan-Villarete and Mafe Galanza. ‘Kyle has really improved a lot from previous conferences. So the rotation is stable, there’s really no problem there,’ said Meneses. ‘We have two backups Rhea and Mafe. And they’re always ready.’

Creamline, which finished bronze in the PVL on Tour and Invitational, is raring to defend its throne in the Reinforced with American import Coco Schwan, Alyssa Valdez, Michele Gumabao, Pangs Panaga, Jema Galanza, and rookie Sheena Toring.

‘Our number one goal is to finish the conference healthy. That’s really the top priority. But of course, our mindset is also on defending our title. Hopefully, Courtney will be a big help to us,’ Meneses said.

Independent directors may soon be barred from seeking a longer term beyond nine years as the Securities and Exchange Commission (SEC) proposed a circular setting term limits.

SEC chair Francis Lim on Wednesday told reporters that setting the term limit in stone would allow opportunities for ‘true, meaningful independent directors.’

Under the draft memorandum, independent directors will be elected for a three-year fixed term, meaning they will have security of tenure.

This is to ensure that independent directors ‘with different views’ are protected from sudden removal.

‘To make the independent directors truly independent, we’re giving them a three-year security of tenure . Once voted, they are elected for three years, not just one,’ Lim said on the sidelines of the Shareholders’ Association of the Philippines’ digital library launch. There’s a way out currently

At the same time, however, the chair clarified that they may only be elected for a maximum of three consecutive terms totaling nine years.

After that, they are barred from reelection in the same company.

Current rules state that independent directors are only elected for a one-year term. They may serve as independent directors for up to nine years, although companies may apply for exemptive relief for extraordinary cases.

But once the proposed rules are approved, the term limit would be firm and the SEC would no longer grant extensions, Lim noted.

The circular will take effect immediately, meaning independent directors serving their ninth year in 2026 may not be reelected, and their term will not be extended.

Possible penalty

Companies that fail to adopt the three-year security of tenure and the nine-year term limit may be fined P1 million.

The draft circular is available for public comment until Oct. 15.

Lim earlier pointed out that independent directors whose terms have expired in one company can move to smaller firms and share their expertise while also giving opportunities to other leaders.

Jerrick Ahanmisi finally came to terms with Terrafirma by signing a one-year contract after being acquired in a trade with Magnolia.

The four-point specialist sealed the deal alongside agent Danny Espiritu in a meeting with Dyip team manager Waiyip Chong

Both parties had been in negotiations since Terrafirma got the incoming fifth-year guard last August when it dealt the rights to Javi Gomez de Liano to Magnolia.

Terrafirma also acquired Magnolia’s second round pick in the recent Rookie Draft, which it used to select burly College of St. Benilde big man Shawn Umali.

Ahanmisi averaged 6.8 points and 1.8 rebounds in 33 games for Magnolia in the 2024-25 campaign.

It was in the same season that Ahanmisi became known for knocking down shots from the league’s new four-point line, making 28-of-72 from the longest arc for a 39-percent clip.

He’s only ranked second to then-teammate Paul Lee, who made 31, and fourth in percentage among locals.

Minutes, however, were inconsistent-something that Ahanmisi looks to change now he’s on a Terrafirma side that hopes to show semblance of being competitive despite a relatively ragtag roster anchored by Louie Sangalang, Paolo Hernandez and Brent Paraiso.

Manny Pacquiao wasn’t even alive when Muhammad Ali and Joe Frazier battled nearly to the death in the original ‘Thrilla in Manila’ in 1975. But half a century later, it’s Pacquiao himself leading the 50th anniversary celebration of that iconic heavyweight clash-this time as a promoter.

‘To think I wasn’t even born during the original staging of ‘Thrilla in Manila,” Pacquiao said with a smile during the launch of the fight card. ‘I feel blessed to be the one to bring the 50th celebration to life.’

Presented by Pacquiao and the International Boxing Association, the ‘Thrilla in Manila’ anniversary event happens on Oct. 29 at Smart Araneta Coliseum-the same venue where Ali and Frazier made boxing history.

The card is headlined by the WBC strawweight championship bout between Philippines’ Melvin Jerusalem and South Africa’s Ayanda Kuse. It also features Olympic silver medalist Eumir Marcial against undefeated American Eddy Colmenares in a 10-round middleweight bout.

Pacquiao sees this event not only as a celebration but as a platform to elevate local talent.

‘It’s a big help for our boxers that they get this kind of break in these kinds of international promotions,’ he said.

The fight night also showcases Filipino rising stars, including Marlon Tapales, Carl Jammes Martin and Arvin Magramo in undercard bouts.

Manila Water Company Inc. has completed its acquisition of WawaJVCo Inc., another unit of the Razon Group behind the water supply dam in Rizal province, for P37.8 billion.

The group disclosed to the local bourse on Wednesday that the closing conditions for the deal had been met just this week.

This came three months after its parent Prime Infrastructure Inc. had decided to consolidate its water projects into Manila Water, with the latter taking 100 percent ownership of WawaJVCo.

Trident Water Company Holdings Inc., a subsidiary of Prime Infra, holds 56.91 percent of the outstanding common stock of Manila Water Bulk water supply

Gaining control of the firm allows Manila Water to take charge of both the Tayabasan Weir and the Upper Wawa Dam, which were designed to boost Metro Manila’s water supply.

Tayabasan Weir, which has a capacity of 80 million liters per day (MLD), has been up and running since late 2022.

Upper Wawa Dam, meanwhile, will have a supply capacity of up to 710 MLD once it begins its commercial operations by December. In an earlier statement, Manila Water said the move would ‘provide greater focus and flexibility in water resource allocation, while allowing for more efficient operations and overall cost management of the facility.’

Consolidation

‘By consolidating our assets under Manila Water as our core water infrastructure platform, we are enhancing system integration, operational efficiency and service delivery,’ Prime Infra president and chief executive officer Guillaume Lucci also said in an earlier statement.

Lucci expects this strategy to beef up the group’s status ‘as a leader across the entire water value chain.’

Two more party-list groups – Murang Kuryente and Ang Probinsyano – have been proclaimed as members of the House of Representatives in the 20th Congress, following the disqualification of Duterte Youth party-list.

At the House plenary session on Thursday, Majority Leader Ferdinand Alexander Marcos moved to allow Murang Kuryente party-list Rep. Arthur Yap and Ang Probinsyano Rep. Alfred delos Santos take their oath respectively before Speaker Faustino ‘Bojie’ Dy III.

Marcos made the motion following a Commission on Elections (Comelec) proclamation.

‘Madam Speaker, we are in receipt of the proclamation issued by the Commission on Elections declaring Murang Kuryente party-list as winner under the party-list system in the national and local elections on the 12th of May 2025, and to entitle its nominee, Arthur C. Yap, to sit as its representative in the House of Representatives of the Congress of the Philippines,’ Marcos said.

‘Pursuant to the aforementioned proclamation, I move to allow Arthur C. Yap, representative of Murang Kuryente party-list, to take oath in open session,’ he added. Marcos made a similar motion for delos Santos. Both motions were separately approved by Deputy Speaker Kristine Singson-Meehan; no one objected.

Prior to Murang Kuryente and Ang Probinsyano, Abono party-list Rep. Robert Raymond Estralla also took his oath of office before Dy.

This means three party-list seats left vacant due to the Duterte Youth party-list’s disqualification are filled up.

Duterte Youth won three seats in the 2025 midterm elections, ranking second with 2.338 million votes. However, the group was disqualified by Comelec based on the following grounds:

Untruthful statements in its petition, particularly on the eligibility of its nominees

No bona fide intention to represent the sector for which the petition has been filed and thus, preventing a faithful determination of the true will of the electorate

It has advocated for violence or unlawful means to achieve its goal

It was established that it is an adjunct or an entity funded or assisted by the National Youth Commission

On Tuesday, Comelec Chairperson George Garcia said the Comelec en banc decided with finality to cancel Duterte Youth’s registration.

‘The clerk of this Commission just issued today a certificate of finality and entry of judgment on the decision of the en banc [regarding the cancellation of Duterte Youth’s registration],’ Comelec Chairperson George Garcia said on Tuesday in an online interview with reporters.

According to him, the poll body en banc will hold a meeting on Wednesday to discuss the effects of the issuance of the certificate, particularly which party list groups will benefit from the three House seats originally allotted to Duterte Youth.

Garcia said the Comelec came out with the certificate of finality after the Supreme Court did not issue a temporary restraining order (TRO) within 30 days after the en banc upheld the cancellation of the party list group’s registration on August 29.

Originally, the House had a total of 317 seats, but the number grew to 318 following Comelec’s decision to allocate 64 seats to party-lists, instead of just 63.

During the canvassing done by the National Board of Canvassers (NBOC) last May 15, a lawyer of the Philreca party-list said their computation shows that there should be 64 party-list seats and not just 63 – asking Garcia to heed their call.

In response, Garcia, sitting as the NBOC head, asked groups to provide their position papers on various issues like the number of seats. After the adjustment, Comelec proclaimed Gabriela Women’s Party as a winner of the party-list race. Last September 23, former Kabataan solon and now Gabriela party-list Rep. Sarah Elago took her oath of office as a member of the House.