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Elon Musk now world’s richest man

A 4.8% surge in the electric carmaker’s share price at today’s trading session boosted Elon Musk’s wealth valuation past Jeff Bezos

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Survey unveils Elon Musk as the most inspirational leader in tech , FG begs Elon Musk’s Tesla for ventilators over rising coronavirus cases in Nigeria

Elon Musk, the world’s celebrated entrepreneur behind Tesla Inc. and SpaceX, is now the world’s richest man.

A 4.8% surge in the electric carmaker’s share price at today’s trading session boosted Elon Musk’s wealth valuation past Jeff Bezos, the founder of Amazon on the Bloomberg Billionaires Index, a ranking of the world’s 500 wealthiest people.

What this means: Elon Musk is worth $194.8 billion, or $9.5 billion more than Jeff Bezos, whose Blue Origin is a rival to Musk’s Space Exploration Technologies Ltd., or SpaceX, in the private space race.

  • Elon Musk’s wealth gain in 202o marks the fastest surge to the top of the rich list in modern history— and marks a dramatic turn around from a business riddled with debt less than two years ago as Tesla’s rapidly burnt cash to stay in operation.
  • Stock experts anticipate 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.

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.

2 Comments

2 Comments

  1. Kayode Attah Johnson

    January 7, 2021 at 5:47 pm

    Oga Olumide, I am not really stunned, because Elon Musk has being a aggressive man in business. I am happy for him.

  2. Ebenezer

    January 7, 2021 at 11:54 pm

    It’s good to hear how the big men are doing up there in terms of their businesses.
    In fact, I would be glad to how to venture into foreign entrepreneurship or trading. I need a good adviser.

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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.

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Wealth of world’s billionaires hits $10.2 trillion

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.

Specta

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

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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.

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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.

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READ: World richest man, Jeff Bezos holds 5% of his wealth in cash

Bernard Arnault

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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.

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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.

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Elon Musk needs $20 billion wealth gain to clinch world's richest man title

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.

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  • 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

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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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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.

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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

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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.

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