Japaul Gold slumps by 30%, after rallying to 52-week high of N1.67 on Monday
Multiverse forecasts N39.5 million profit in Q1 2021
GCR affirms Dangote Cement issuer ratings of AA+(NG) and A1+(NG)
CEO, CFO purchase additional 1.28 million units of United Capital Plc shares
Governor Sanwo-Olu says 24,000 students yet to resume in public schools
How Access Bank got Japaul to pay up N37 billion loan that had gone bad
Covid-19: FG launches Rapid Response Register (RRR) for urban poor affected by pandemic
Naira strengthens at NAFEX window despite 61% drop in dollar supply
McCaleb, co-founder of Ripple sells 28.6 million XRP
Oil prices rally high on incoming COVID-19 relief program
Billionaire Watch
Billionaires worth over $100 billion made $270 billion in 2020
Latest data reveals that the world’s top billionaires gained $270.35 billion in 2020.
The year 2020 was good to the world’s richest people on the planet despite an era disrupted by one of the worst pandemics in human history.
The top five richest people in the world have a wealth valuation of at least $100 billion and unsurprisingly four of such rich individuals are from the technology sector.
Data retrieved from the Bloomberg Billionaires Index revealed such billionaires gained $270.35 billion in 2020.
READ: World’s richest people lose 2.1% of their wealth in a day
Jeff Bezos
Top on the list is Jeff Bezos, the CEO, and founder of Amazon.
- He is presently valued at about $190 billion, showing a gain of a whopping $75.4 billion.
- Coming from strong gains in his online retail company, now worth over $1.63 trillion, Amazon is the world’s largest retail cyber company site, in terms of market value.
READ: Jeff Bezos becomes first person to cross $200 billion net worth, as Zuckerberg crosses $100 billion
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 $170billion, showing a yearly gain not seen in modern history, of about $142 billion.
- He founded and leads top tech companies like Tesla, Space X, and Neuralink, which has shown admirable strides in the tech ecosystem.
- Tesla Stock surprisingly has returned about 650% in 2020 alone to investors and now has a market capitalization that stands at $669 billion (far bigger than Africa’s largest economy).
- He is within the striking distance of the present world’s richest man, Jeff Bezos.
READ: Elon Musk needs $20 billion wealth gain to clinch world’s richest man title
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 $132 billion with a yearly gain of about $18.6 billion.
READ: This is what Dangote wants to emulate from Bill Gates
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 $114 billion, with a yearly gain of $9.15 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, which he controls through his holding known as Christian Dior.
READ: This billionaire made $39 billion in 2019, thanks to his luxury brands
READ: Top 5 richest people gain over $200 billion in 365 days
Mark Zuckerberg
Facebook’s founder, Mark Zuckerberg, is fifth on the list, with a fortune estimated to be worth $104 billion and a yearly gain of about $25.2 billion.
- He owns the biggest online social medial company, popularly referred to as Facebook, and other household tech brands including Instagram and WhatsApp.
READ: Facebook founder, Mark Zuckerberg, worth $104 billion keeps $2.3 billion in cash
Bottom line
Through stock holdings and investments prevailing in the world’s biggest companies, their founders, major shareholders unsurprisingly made the list of 2020 top gainers amid an era that has seen the wealth of the middle-class earners erode globally due to rising inflation.
- Finally, as global jobs 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.
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.
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.
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.
Billionaire Watch
Aliko Dangote’s net worth falls by $840 million
The net worth of Africa’s richest man declined by $840 million as the share price of his flagship company, Dangote Cement Plc drops.
Aliko Dangote, Africa’s richest man and the founder of Africa’s manufacturing conglomerate, Dangote Group Plc, saw his net worth fall by $840 million to $17.5billion between January 7 and 8.
This is according to the information obtained by Nairametrics from Bloomberg’s billionaire tracker.
READ: Facebook founder, Mark Zuckerberg, worth $104 billion keeps $2.3 billion in cash
The decline in Dangote’s net worth can be attributed to decline in the share price of his flagship company, Dangote Cement Plc (DCP), as the market capitalization of the company lost N339 billion on the Nigerian Stock Exchange (NSE), following the completion of the first tranche of the Cement behemoth’s share buyback programme.
READ: World richest man, Jeff Bezos holds 5% of his wealth in cash
It is important to know that 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.
READ: Elon Musk posts best annual wealth gain ever, makes $140 billion in 2020
What you should know
- Nairametrics reported on Friday, 8th January 2021, that the Shares of Dangote Cement Plc lost N339 billion, following the completion of the first tranche of the Cement behemoth’s share buyback programme.
- The report revealed that the market capitalization of the company, in just a week, declined from N4,173,220,263,484.50 at the open of trade on Monday 4th of January to N3,834,114,166,125.00 at the close of trade today the 8th of January 2021.
- This development comes a week after the company successfully completed the first tranche under the Share Buy-Back Programme, as the company bought back 40,200,000 DCP shares in the open market between 30th and 31st December. The unit bought represents 0.24% of the entire current issued shares of 17,040,507,404 ordinary shares.
Fatokun Ajayi
January 3, 2021 at 8:43 pm
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ZeeR
January 7, 2021 at 10:57 pm
I wish to be the richest woman in the world someday.