Connect with us

Musings From Abroad

It’s Official! Forbes declares Elon Musk world’s richest person, now worth $219bn after acquiring Twitter shares

Published

on

Billionaire Tesla chief executive Elon Musk, is now the richest man on earth with a net worth of $219 billion, according to the latest Forbes Billionaires List released on Wednesday.

With the net worth of the world’s wealthiest people slipping to $12.7tn due to the Russia-Ukraine crisis, Covid-19 and volatile stock markets caused wealth erosion, leading to 329 billionaires dropping out of the Forbes’ 2022 rich list, Musk’s recent acquisition of 73.4 million shares of Twitter, worth about $3 billion, making him the largest shareholder in the social media company, has shot him up the world billionaire list.

According to Forbes in its annual report, the present world billionaire listing of 2,668, is an all time-down from 2,755 last year.

Using stock prices and exchange rates from March 11 to calculate the net worth of the world’s richest people, it said it was not surprising that 329 people fell off the list.

“In all, 329 people fell off the billionaires list this year – the most since the 2009 financial crisis,” Forbes said in the report.

Musk, who has been appointed to Twitter’s board with his purchase of 9.2 percent stake in the microblogging platform, topped the Forbes list for the first time with a net worth of $219 billion, according to the report.

Amazon founder Jeff Bezos, fell to number two for the first time in four years due to a 3 percent drop in Amazon stock and increased charitable giving, which wiped $6bn from his net worth, the Forbes report said.

French luxury goods tycoon Bernard Arnault, who added $8bn to his fortune over the past year, remains the world’s third-richest person and rounding out the top five are Bill Gates and Warren Buffett with personal fortunes of $129bn and $118bn, respectively.

There were 236 newcomers added to the billionaire ranks this year, including pop star Rihanna, Lord of the Rings director Peter Jackson and venture capitalist Josh Kushner.

Though this is the first time Musk will be making the top of the Forbes’ list, the Bloomberg Billionaires Index had named him the world’s richest person at the end of 2021 with a personal fortune of $273.5bn.

These are the top 10 richest people in 2022, and their net worth

1. Elon Musk: $219bn

2. Jeff Bezos: $171bn

3. Bernard Arnault: $158bn

4. Bill Gates: $129bn

5. Warren Buffett: $118bn

6. Larry Page: $111bn

7. Sergey Brin: $107bn

8. Larry Ellison: $106bn

9. Steve Ballmer: $91.4bn

10. Mukesh Ambani: $90.7bn

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Musings From Abroad

French, Russia, Chinese firms court Ghana amid plan for first nuclear power plant

Published

on

According to a representative of the energy ministry, Ghana will choose a contractor by December to construct its first nuclear power station from among competitors which include China National Nuclear Corporation, France’s EDF, and the United States NuScale Power and Regnum Technology Group.

Robert Sogbadji, the deputy director for power in charge of nuclear and alternative energy, Russia’s ROSATOM and South Korea’s Kepco and its subsidiary Korea Hydro Nuclear Power Corporation were also vying for the contract, which was scheduled to last for the next ten years.

“Cabinet will approve the final choice. It can be one vendor or two nations; it will depend on the financial model and the technical details,” Sogbadji told Reuters on Monday.

The government issued a call for vendors, and 16 countries and businesses replied, according to Sogbadji. However, a technical committee of state agencies headed by the Ministry of energy reduced the list to the current five countries.

In the 1960s, Ghana began exploring the construction of a nuclear power facility, but a coup halted the project. With help from the International Atomic Energy Association, it brought the plan back to life in 2006 after a catastrophic power outage.

Similar to other African nations, Ghana is progressively exploring the potential of nuclear power to bridge supply gaps on a continent where more than 600 million people live without access to energy.

Both Burkina Faso and Uganda have agreements in place with China and Russia to build their first nuclear power plants. As part of their energy mix, Namibia, Kenya, and Morocco are also aiming to include nuclear power.

Amidst acute power shortages, South Africa, which runs the only nuclear reactor on the continent, plans to add 2,500 megawatts (MW) of power from the resource. According to Sogbadji, Ghana wants to increase its electricity mix to include 1,000 megawatts of nuclear power by 2034.

Energy authority in the West African nation, which is now experiencing power shortages, has 5,454 MW of installed capacity, of which 4,483 MW is available.

Ghana, a country that exports gold, oil, and cocoa, anticipates using nuclear power as its foundation for faster and more comprehensive industrialization while expanding energy exports via the West Africa Power Pool to countries like Benin, Ivory Coast, and Togo.

According to Sogbadji, the government has already acquired a location big enough to house five reactors. It would be preferable, he continued, to “build, own, operate and transfer” with space for local equity holding.

Continue Reading

Musings From Abroad

Nigeria’s Air Peace accused of safety violation by UK regulator

Published

on

Nigeria’s Civil Aviation Authority has received a letter from the United Kingdom Civil Aviation Authority claiming that Nigerian carrier, Air Peace, had allegedly broken several aviation safety laws.

The allegation comes just three months after the Nigerian airline initiated the Lagos-London route.

“United Kingdom SAFA Ramp Inspection Report with reference number: CAA-UK, -2024-0217” and “NATS Management System Safety Report” were the titles of the CAA’s letter of complaint that was sent to the NCAA. Additionally, the NCAA has written to Air Peace to elucidate the matters at hand.

The letter was labelled “United Kingdom SAFA Ramp Inspection Report” and has the reference number NCAA/DOLTS/APL/Vol.11/03624 on it. Capt. O.O. Lawani, the NCAA General Manager of Operations, signed the document, which had the date May 14, 2024.

The NCAA stated in the letter that the flight captain acknowledged using an electronic flight bag for navigation and that the UK CAA had alerted it to the lack of operational approval for Electronic Flight Bag functions that could compromise the aircraft’s safety.

NCAA added that “no mounting device for the use of EFB, no charging points, or battery for backup” was mentioned in the letter from the CAA.

Air Peace has started flying from Murtala Muhammed International Airport in Lagos to London Gatwick as part of Nigeria and the United Kingdom’s bilateral air services agreement.

As of the time of publication, Stanley Olisa, the Air Peace spokesperson, could not be reached.

Since Air Peace started operating flights from Lagos to London, international airlines including British Airways, Virgin, and others have reduced their fares on the route.

Several industry watchers have urged Nigeria’s government to back Air Peace by opposing ‘aero politics” along the route and taking retaliatory measures to undermine Air Peace’s viability there.

Continue Reading

EDITOR’S PICK

Metro22 mins ago

‘Nigeria has witnessed significant progress under Tinubu’— SGF Akume

Nigeria’s Secretary to the Government of the Federation (SGF), George Akume, has given thumbs up to the administration of President...

Politics17 hours ago

Chad’s PM resigns following disputed election of Deby

Succes Masra, the opposition leader and prime minister of Chad, announced on Wednesday that he had tendered his resignation following...

VenturesNow24 hours ago

Private sector concerned as Nigeria’s central bank raises interest rate to 26.25% 

The decision of Nigeria’s central bank’s Monetary Policy Committee to raise the country’s benchmark interest rate has alarmed members of...

Politics24 hours ago

Kenya’s Ruto to discuss debt relief with Biden this week

This week, Kenyan President, William Ruto will be hosted by US President, Joe Biden, for extensive negotiations that are anticipated...

Strictly Personal24 hours ago

As a continent, we must confront the emergency of our failure to learn, By Joachim Buwembo

“As a nation, we must confront the emergency of our failure to learn!” well-circulated news clips showed veteran Kenyan opposition...

Musings From Abroad1 day ago

French, Russia, Chinese firms court Ghana amid plan for first nuclear power plant

According to a representative of the energy ministry, Ghana will choose a contractor by December to construct its first nuclear...

Metro1 day ago

Tinubu’s policies in the best interest of Nigerians— VP Shettima

Nigeria’s Vice President, Kashim Shettima, on Tuesday once again justified the policies and programmes of the President Bola Tinubu administration,...

Sports2 days ago

Simbine wades in on Omanyala, Tebogo “Africa Sprints King’ debate

South African sprint sensation, Akani Simbine, has weighed in on the “African Sprint King” debate between Africa’s fastest man and...

Tech2 days ago

Egypt’s Venture Capital firm Glint announces completing close of $3m fund

Egyptian Venture Capital firm, Glint, has announved completing the first close of its second venture fund, which will invest in...

Culture2 days ago

Court jails Malian prof for criticizing military junta in new book

A court sitting in Bamako, Mali, has sentenced a Professor of Economics, Etienne Fakaba Sissoko, to two years in prison,...

Trending