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Billionaire Watch

Top 5 richest people gain over $200 billion in 365 days

In a year that was adversely affected by the COVID-19 pandemic, the world’s top 5 richest people gained over $200 billion.

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Four of the top five in the list of the world richest people on the planet unsurprisingly are from the technology sector amid the top 5 gaining over $200 billion YTD, according to data retrieved from Bloomberg Billionaires Index data.

Jef Bezos

  • Top on the list, is Jeff Bezos, the CEO, and founder of Amazon.
  • He is presently valued at about $182 billion, showing a gain of a whopping $67 billion.
  • Coming from strong gains from his online retail company now worth over $1.5 trillion, Amazon is the world’s largest retail cyber company site in terms of market value.

Elon Musk

  • Tech whiz kid, Elon Musk who recently overtook the founder of Microsoft, Bill Gates, is ranked 2nd. He is now estimated to be worth about $147 billion, showing a yearly gain not seen in modern history, of about $119 billion.
  • He founded and leads top tech companies like Tesla, Space, and Neuralink, which has shown admirable strides in the tech ecosystem.
  • Tesla Stock surprisingly has returned about 800% within a year alone to investors and now has a market capitalization that stands at $608 billion (bigger than Africa’s largest economy).
  • He is within the striking distance of the present world’s richest man, Jeff Bezos.

Bill Gates

  • In the third position is another popular tech founder, Bill Gates, the founder of the most valuable software company, Microsoft.
  • Bill Gates made his wealth when he simplified the computer operating system by creating Microsoft Windows, the leading operating system in personal computers globally today.
  • For many years Gates had been the world’s richest man. He now has a wealth fortune of $129 billion with a yearly gain of about $15.7 billion.

Bernard Arnault

  • Europe’s top entrepreneur and French celebrated fashion icon, Bernard Arnault is fourth on the list with a fortune now estimated to be worth $110 billion with a yearly gain of $4.6 billion.
  • He is the only billionaire on the top 5 that isn’t from the tech ecosystem.
  • The french-born billionaire got extremely wealthy through his flair for investing in leading luxury brand chains.
  • Most of his wealth comes from his controlling stake of LVMH he controls through his holding known as Christian Dior.

Mark Zuckerberg

  • Facebook’s founder, Mark Zuckerberg is fifth on the list, with a fortune estimated to be worth $105 billion with a yearly gain of about $27 billion.
  • He owns the biggest online social medial company, popularly referred to as Facebook, and other household tech brands including Instagram and WhatsApp.

Bottom line: Through stock holdings, and investments prevailing in the world’s biggest companies, their founders, major shareholders unsurprisingly made the list amid an era that has seen the wealth of the middle class erode globally. As job and social mobility go remote, tech brands are better positioned to gain in the near term, thereby printing more gains to their owners as seen above.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Billionaire Watch

Dangote’s net worth declines by $1.2 billion in February

Africa’s richest man, Aliko Dangote lost $1.2 billion of his estimated net worth.

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Dangote finally addresses how he amassed his wealth without father’s money, Dangote talks about when he will buy Arsenal , Aliko Dangote defends border closure, reacts to Dangote Cement result, Can Nigeria's King Cement maker Dangote Cement withstanding COVID-19?, Aliko Dangote and his slide from $25 billion to $7 billion

Aliko Dangote, the founder of Africa’s most diversified manufacturing conglomerate, Dangote Industries, has seen his net worth decline by a whopping $1.20 billion in the month of February alone.

Africa’s richest man whose wealth peaked at $18.4 billion this year, saw his wealth declined by $1.20 billion, to $16.6 billion from $17.8 billion recorded on the 31st of January 2021, data retrieved from Bloomberg Billionaire Index reveals.

Source: Bloomberg Billionaire Index

The fall in Dangote’s net worth is partly attributable to the decline in the share price of his flagship company, Dangote Cement Plc (DCP), as well as the share price of his integrated sugar business, Dangote Sugar Refinery Plc (DSR).

The decline in the share price of these companies which impacted their market capitalization was occasioned by profit-taking activities by investors in February, across the market spectrum.

Facts about Dangote’s networth valuation

The majority of Dangote’s fortune is derived from his 86% stake in the publicly-traded Dangote Cement, as the billionaire holds the shares of the company directly and through his conglomerate, Dangote Industries.

He holds stakes in Nascon Allied Industries and United Bank for Africa, directly and through Dangote Industries, a conglomerate that also owns closely held businesses operating in food manufacturing, fertilizer, oil and other industries.

Dangote’s most valuable closely held asset is his fertilizer plant with a capacity to produce up to 2.8MT of urea annually. The $2.5 billion fertilizer plant owned by Africa’s richest man Aliko Dangote, is expected to commence operation in the first quarter of 2021.

The billionaire also owns a $12 billion oil refinery which is expected to be completed this year. However, the plant is not included in his net worth valuation, for some reason.

What you should know

  • The shares of Dangote Cement at the close trading activities for the month of February declined by 6.78%, extending the YTD loss on the shares of the cement behemoth to over 10%.
  • On the flip side, shares of Dangote Sugar Refinery also declined by 15.29% to close the month lower at N18 per share, thus correcting the YTD gains of its shares to 2.27%.

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Billionaire Watch

Battle of Titans: Elon Musk, Jeff Bezos share world’s richest title

Stiff competition prevails as both Jeff Bezos and Elon Musk share the world’s richest title.

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Jeff

The battle for the worlds richest has suddenly become so intense that both Elon Musk and Jeff Bezos both share the world’s richest man title on the account they both have a net worth of $184 billion.

 

Bezos, the man behind the world’s most valuable retail company, Amazon, has steadily been seeing his wealth valuation appreciate amid high market volatility currently prevailing at global financial markets.

The 49-year-old self-made billionaire, Elon Musk is sharing, the world’s richest when recent data revealed Tesla recorded impressive gains of about $9.75 at the end of Monday’s trading session.

Investors are currently increasing their buying pressure on Tesla as they weigh reports that the electric vehicle industry is expected to grow into a $5 trillion market over the next decade, thereby giving the world’s most valuable car company room for more upside.

READ: China’s richest man worth $94.1 billion earned a fortune from selling bottled water

It’s important to note that both mega billionaires have in recent times focused their considerable brainpower on space technology as Bezos recently accelerated his space-travel efforts through his firm popularly known as Blue Origin.

Recent reports suggest SpaceX founded by Musk raised another $850 million this month from a group of leading institutional investors led by Sequoia Capital.

Such investment now puts SpaceX’s valuation at $74 billion, a 60% jump from August, and helped boost Musk’s net worth by about $11 billion, according to the index.

Bezos who is now the Chairman of the $1.58 trillion valued company, Amazon has about $9.63 billion cash in the bank.

READ: Apple’s market value cross $ 2 trillion

The online retail giant returns have under his tenure as the chief executive officer of the e-commerce giant actually ranked second among all S&P stocks since the IPO in May 1997.

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The 57-year-old billionaire is the founder of Amazon, the world’s biggest online retailer company on earth. The American-based company sells books, household goods, and other retail products through its flagship platform.

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His company also controls the Whole Foods grocery chain and offers video streaming services and remains the biggest cloud computing provider worldwide.

READ: Billionaires worth over $100 billion made $270 billion in 2020

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That being said, both Elon Musk and Jeff Bezos’s wealth valuation would currently buy 107 million troy ounces of gold or 2.91 billion barrels of crude oil.

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