Richard Chandler is among the billionaires who want to reduce the rising carbon emissions across the globe.
Just like Elon Musk, he is also making efforts to create zero-emission vehicles. But, unlike the Tesla CEO, Chandler is focusing on electric airplanes.
The Singapore-based billionaire investor currently controls Eviation, the company behind the Alice electric plane, as well as MagniX, the tech firm manufacturing the e-plane's engines.
#TechCEO: Who is Richard Chandler?
Richard Chandler, a New Zealand native billionaire, is a man who loves to invest. Most of the billionaire's wealth came from investments.
In 2006, he decided to relocate to Singapore to run Clermont Group, Chandler's personal investment outfit.
Thanks to his investment efforts, he was able to become one of the top 15 richest people in Singapore.
After that, his Clermont Group had the subsidiary company MagniX. In 2019, Richard decided to buy a 70% stake in Eviation, allowing him to control the Israeli aircraft manufacturer.
He did this to show that MagniX's engines are compatible with a regular passenger airplane.
As of writing, Richard Chandler's overall net worth is over $2 billion.
Richard Chandler's Electric Plane Idea
According to Forbes' report, Chandler funded the work of high-powered electric motor development by Tony Guina, his uncle on his mother's side.
At first, he only did this in favor of his mother. However, Chandler had the idea that Guina's engines could be integrated into jeepneys in Manila.
In 2017, he decided to use these electric motors on airplanes.
While many companies are more focused on eVTOL (Electric Vertical Take off and Landing) airplanes, Chandler decided to put his investments in small electric conventional passenger airplanes.
He explained that these models are cheaper and easier to design and manufacture. As of writing, Chandler is still expecting that his Eviation Alice electric plane will soon make revenues.
Previously, we also covered various tech CEOs.
These include Masayasu Ito, the man behind the PS5 development, and Onyekachi Izukanne, the CEO behind the African retail aggregator TradeDepot.
For more news updates about billionaires and other influential individuals, keep your tabs open here at TechTimes.
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