Billionaire Watch
Elon Musk needs $20 billion wealth gain to clinch world’s richest man title
Elon Musk is now worth $167 billion and within striking distance of the present world’s richest man, Jeff Bezos, estimated to be worth $187 billion.

Published
1 month agoon

It was another good week for Tesla founder and Chief Executive officer Elon Musk, whose fortune gained about $8.95 billion in value, as stock holdings of Tesla recorded impressive gains ahead of being added to the S&P 500 Index tomorrow.
READ: Stellar’s XLM on a big bang, up by 10%
What you should know about Elon Musk
- Elon Musk is now worth $167 billion and within striking distance of the present world’s richest man, Jeff Bezos, estimated to be worth $187 billion, according to data retrieved from Bloomberg Billionaire Index.
- Tesla Inc. CEO, Elon Musk, the world’s celebrated tech entrepreneur, has surely turned fabulously wealthy this year, taking into consideration that despite the prevailing COVID-19 pandemic, he gained about $140 billion – a feat not seen in the history of humanity.
- Tesla stock price hit a lifetime high, in anticipation of the leading car company’s addition to the S&P 500 index in the coming week.
- Electric-car maker, Tesla Inc’s share value rose as high as $695 at the close of its trading session. Tesla will become on Monday, the most valuable company to ever be added to Wall Street’s main benchmark index.
- Now worth $659 billion, Tesla will increase the concentration of heavyweight companies within the S&P 500.
READ: Elon Musk surpasses Bill Gates’ wealth, now worth $128 billion
READ: Bitcoin drops $900 after hitting a lifetime high
About Elon Musk
- Elon is also the CEO of Space Exploration Technologies, a rocket manufacturer tapped by NASA to resupply the space station.
- His company, Tesla, founded in 2003, is a California-based company that sells electric vehicles.
- Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.
- His wealth gain is largely attributed to Tesla, the electric car automaker, which has gained 800% in 2020 and has become by far the world’s most valuable automaker in the world, despite it producing far less than Volkswagen, Toyota, or General Motors.
- Nairametrics, a few months ago, highlighted major reasons why it believed the stock was a strong buy and could surpass the present most valuable listed technology company.
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 or email [email protected] He is a Member of the Chartered Financial Analyst Society.


Billionaire Watch
Dangote, Rabiu, Adenuga make top 10 on Forbes’ Africa billionaires list
Nigerian billionaire entrepreneurs; Aliko Dangote, Mike Adenuga and Abdul Samad Rabiu appear in the top spots of Forbes’ Africa billionaires list.
Published
3 days agoon
January 23, 2021
Nigerians and South Africans dominate the top 10 spot on Forbes’ Africa billionaires list, which is an annual ranking of the richest Africans compiled and published by American business magazine, Forbes.
The 10 richest people in Africa according to Forbes have made their wealth sources including investments in diamonds, telecom, cement, sugar, media and mining amongst others. In total, they have a combined net of $59.8 billion.
The top 10 list doesn’t include a woman and is dominated by four South Africans and three Nigerians, with notable names like Aliko Dangote, Nicky Oppenheimer, Johann Rupert, Mike Adenuga, Abdul Samad Rabiu amongst the rest.
READ: Airbnb co-founder, Brian Chesky gains over $7 billion in just a few days
10. Koos Bekker
- Net Worth: $2.8billion
- Age: 68
- Location: South Africa
- Origin of wealth: Media and Investments
- Company: Naspers
READ: World richest man, Jeff Bezos holds 5% of his wealth in cash
According to Forbes, Koos Bekker is revered for transforming South African newspaper publisher, Naspers into an eCommerce investor and cable TV powerhouse. In 2019, Naspers put some assets into two publicly-traded companies, MultiChoice Group and Prosus which contain the Tencent stake.
9. Patrice Motsepe
- Net Worth: $3billion
- Age: 58
- Location: South Africa
- Origin of wealth: Mining
- Company: African Rainbow Materials
READ: Facebook founder, Mark Zuckerberg, worth $104 billion keeps $2.3 billion in cash
Patrice Motsepe, the founder and chairman of African Rainbow Minerals, became a billionaire in 2008 – the first black African on the Forbes list. In 2016, he launched a new private equity firm, African Rainbow Capital, focused on investing in Africa.
8. Naguib Sawiris
- Net Worth: $3.2billion
- Age: 66
- Location: Egypt
- Origin of wealth: Telecom
- Company: Orascom Telecom Holding
Naguib Sawiris is a scion of Egypt’s wealthiest family. His brother Nassef is also a billionaire. He built a fortune in telecom, selling Orascom Telecom in 2011 to Russian telecom firm, VimpelCom (now Veon) in a multibillion-dollar transaction.
READ: Many millionaires plan to buy Crypto before 2022
7. Isaad Rebrab
- Net Worth: $3.2billion
- Age: 76
- Location: Algeria
- Origin of wealth: Food
- Company: Cevital Industrial Group
Issad Rebrab is the founder and CEO of Cevital, Algeria’s biggest privately-held company. Cevital owns one of the largest sugar refineries in the world, with the capacity to produce 2 million tons a year. Cevital owns European companies, including French home appliances maker Groupe Brandt, an Italian steel mill and a German water purification company.
READ: Netflix gains 17% after beating investors expectation
6. Abdul Samad Rabiu
- Net Worth: $5.5billion
- Age: 60
- Location: Nigeria
- Origin of wealth: Cement, Sugar
- Company: BUA Group
Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. In early January 2020, Rabiu merged his privately-owned Obu Cement company with listed firm Cement Co. of Northern Nigeria, which he controlled. The combined firm, called BUA Cement Plc, trades on the Nigerian stock exchange; Rabiu owns 98.5% of it. Rabiu, the son of a businessman, inherited land from his father. He set up his own business in 1988 importing iron, steel and chemicals.
5. Mike Adenuga
- Net worth: $6.3billion
- Age: 67
- Location: Nigeria
- Origin of wealth: Telecom, Oil
- Company: Globacom
Mike Adenuga, Nigeria’s second richest man, built his fortune in telecom and oil production. His mobile phone network, Globacom, is the third-largest operator in Nigeria, with 55 million subscribers. His oil exploration outfit, Conoil, operates 6 oil blocks in the Niger-Delta.
4. Johann Rupert
- Net Worth: $7.2billion
- Age: 70
- Location: South Africa
- Origin of wealth: Luxury goods
- Company: Compagnie Financiere Richemont
Johann Rupert is chairman of Swiss luxury goods firm, Compagnie Financiere Richemont. The company is best known for the brands Cartier and Montblanc. It was formed in 1998 through a spinoff of assets owned by Rembrandt Group Limited (now Remgro Limited), which his father formed in the 1940s. He owns a 7% stake in diversified investment firm Remgro, which he chairs, as well as 25% of Reinet, an investment holding co. based in Luxembourg.
3. Nicky Oppenheimer
- Net Worth: $8billion
- Age: 75
- Location: South Africa
- Origin of wealth: Diamonds
- Company: De Beers Group
Nicky Oppenheimer, the heir to his family’s fortune, sold his 40% stake in diamond firm, DeBeers to mining group, Anglo American for $5.1 billion in cash in 2012. He is the third generation of his family to run DeBeers, and took the company private in 2001. For 85 years until 2012, the Oppenheimer family occupied a controlling spot in the world’s diamond trade.
2. Nassef Sawiris
- Net Worth: $8.5billion
- Age: 60
- Location: Egypt
- Origin of wealth: Constructions, Investments
- Company: Orascom Construction
Nassef Sawiris is an investor and a scion of Egypt’s wealthiest family. His most valuable asset is a nearly 6% stake in sportswear maker Adidas. In December 2020, he acquired a 5% stake in New York-listed firm Madison Square Garden Sports, owner of the NBA Knicks and the NHL Rangers teams. He runs OCI, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa; it trades on the Euronext Amsterdam exchange.
1. Aliko Dangote
- Net Worth: $12.1billion
- Age: 63
- Location: Nigeria
- Origin of wealth: Cement, Sugar
- Company: Dangote Group
Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer. He owns 85% of publicly-traded Dangote Cement through a holding company. Dangote Cement produces 45.6 million metric tons annually and has operations in 10 countries across Africa. Dangote also owns stakes in publicly-traded salt and sugar manufacturing companies. Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete.
Billionaire Watch
Top 5 billionaires lost $8 billion in a day
The top 5 billionaires, as a group did not do well at the last trading session of the week amid an era showing the U.S dollar rebounded.

Published
1 week agoon
January 17, 2021
The top 5 billionaires on planet earth had an unimpressive showing at the most recent trading session.
The top 5 billionaires most recent daily loss stood at $7.754 billion
Elon Musk
The world’s richest person printed the highest wealth loss for the day as Elon’s wealth dropped by $4.28 billion. His wealth is now estimated to be worth $197 billion.
Tesla suffered significant losses at Friday’s trading session, on recent reports revealing its Model 3 is now only the fourth-best selling pure electric vehicle (EV) in Europe.
READ: Elon Musk’s wealth jumps in 2021, more than top 5 billionaires combined
Investors got alarmed that Tesla got outpaced by Renault and Volkswagen in an important car market like Europe.
- Elon Musk, who a few weeks ago, surpassed Jeff Bezos to become the world’s richest person, is now the first person in modern history to ever surpass a wealth valuation of over $200 billion.
- However, for the long term, Stock experts anticipate that a Democratic-controlled U.S Senate is bullish for Tesla, on the bias that there would be more pro-renewable investments, at least for the next few years.
Jeff Bezos
Jeff Bezos, the current CEO, and founder of Amazon is presently valued at about $182 billion, printing a wealth drop of $1.26 billion for the day.
- Investors went short on the trillion-dollar valued company at its most recent trading session, taking into consideration that the tech company had become too powerful, particularly when Amazon dropped Parler, a social network that gained President Trump’s die-hard supporters after Twitter suspended his account.
READ: 5 habits of Nigeria’s business billionaires you should emulate
Bill Gates
In the third position is another popular tech genius, Bill Gates, the founder of the most valuable software company, Microsoft.
For many years, Gates had been the world’s richest man. He now has a wealth fortune of $132 billion, as recent data revealed it dropped by $814 million for the day.
READ: World richest man, Jeff Bezos holds 5% of his wealth in cash
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 around $109 billion, with its most recent drop by $3.55 billion.
- He is the only billionaire on the top 5 that isn’t from the tech ecosystem.
- Most of his wealth comes from his controlling stake of LVMH, controlled through his holding known as Christian Dior.
READ: Billionaires worth over $100 billion made $270 billion in 2020
Mark Zuckerberg
Facebook’s founder, Mark Zuckerberg is fifth on the list, with a fortune estimated to now be valued at $95 billion, on the account, he was the only billionaire in the top 5 list that had a wealth gain for the day.
- His most recent wealth daily gain stood at $2.15 billion amid an era of reports revealing global investors are weighing significantly on Facebook amid antitrust and privacy concerns.
READ: Facebook founder, Mark Zuckerberg, worth $104 billion keeps $2.3 billion in cash
Bottom line
The top 5 billionaires, as a group, infamously did not do well at the last trading session of the week amid an era showing the U.S dollar rebounded strongly.
Growing concerns that the leading global technology brands have grown too powerful has led some investors to trim their bullish bets cumulatively on the top 5 billionaires’ businesses.
Billionaire Watch
Elon Musk’s wealth jumps in 2021, more than top 5 billionaires combined
Elon Musk has made more gains in 2021 than Jeff Bezos, Bill Gates, Bernard Arnault, Mark Zuckerberg, and Warren Buffet combined.

Published
2 weeks agoon
January 15, 2021
Stock holdings of Tesla recorded impressive gains on the NASDAQ and it is looking good for Tesla Founder and Chief Executive Officer, Elon Musk, whose fortune has gained $31.6 billion in 2021 alone.
What you should know
Elon Musk, now worth $201 billion, has made more gains in 2021 than Jeff Bezos, Bill Gates, Bernard Arnault, Mark Zuckerberg, and Warren Buffet combined.
READ: Nigeria’s GDP growth to rebound between 1.7% and 2.0% in 2021 – United Capital report
- This takes to account that Jeff Bezos is down by $6.86 billion, Bill Gates’s wealth has grown by only about $712 million, and Bernard Arnault – a french-born billionaire’s wealth is down by $2.25 billion in 2021.
- Facebook’s Founder, Mark Zuckerberg has lost about $10 billion in value this year alone, as investors have reduced their stake in Facebook on privacy concerns and Warren Buffet printed a wealth gain of $1.25 billion.
- Elon Musk, who a few weeks ago, surpassed Jeff Bezos to become the world’s richest person, is now the first person in modern history to ever surpass a wealth valuation of over $200 billion.
READ: Why You Should Not Invest Like Warren Buffet
Specifically, the world’s celebrated engineer and philanthropist had led the revolution of electric cars which is showing great potential to replace fossil-based combustion engine-driven vehicles.
- Electric-car maker, Tesla Inc’s share settled at $845 after the close of its most recent trading session.
- Now worth $801 billion, Tesla has increased the concentration of heavyweight companies within the S&P 500.
READ: Tips that will help you win in business – Amazon Founder
Today, Tesla builds not only all-electric vehicles, but also infinitely scalable clean energy generation and storage products. Tesla believes that the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.
Musk’s wealth gain is largely attributed to Tesla, the electric car automaker, which has gained about 700% in 2020 and has become by far the world’s most valuable automaker in the world, despite producing far less than Volkswagen, Toyota, or General Motors.
READ: Tesla’s market value bigger than any African country
What to expect
Stock experts anticipate that a Democratic-controlled U.S Senate is bullish for Tesla, on the bias that there would be more pro-renewable investments, at least for the next few years.
Tesla has gained more than 23,900% since its 2010 initial public offering, including a 5-for-1 stock split in 2020.
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