Connect with us

News

Elon Musk, Mark Zuckerberg Top 2024 World’s Richest Billionaires Ranking

Published

on

Elon Musk, Mark Zuckerberg and Jensen Huang are leading the group of billionaires in 2024, according to the latest Bloomberg Billionaires Index.

The world’s 500 richest people became considerably richer in 2024, with a combined $10 trillion net worth, according to the report.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people.

The tech billionaires collectively saw their wealth increase by an impressive $903 billion.

US technology stocks played a key role in turbocharging the trio’s wealth, as well as the fortunes of Larry Ellison, Jeff Bezos, Michael Dell and Google co-founders Larry Page and Sergey Brin.

The eight tech entrepreneurs alone gained more than $600 billion this year, 43% of the $1.5 trillion increase among the 500 richest people tracked by the Bloomberg Billionaires Index.

Musk’s close relationship with the incoming president helped increase the value of his companies, including Tesla Inc., SpaceX and xAI. The development report boosted his fortune to an unprecedented $442.1 billion, up $213 billion from the beginning of the year.

Trump’s election win, Bloomberg said it added to the gains as the S&P 500 hit a then all-time high on Nov. 6 in its best post-Election Day performance in history. The billionaires represented on the index gained a combined $505 billion in the five weeks following the election, 34% of the yearly total.

Trump’s victory also sparked a historic rally for digital assets, pushing Bitcoin above $100,000 for the first time. That especially boosted crypto billionaires, Binance Holdings’ Changpeng Zhao, known as CZ, saw his wealth surge 60% to $55 billion. The net worth of Coinbase Global Inc. co-founder Brian Armstrong rose more than 50% to $11.1 billion.

ALSO READ:  10th N' Assembly: We want Senate Presidency, Deputy or Speaker - 231 Women Groups

The $237 billion gap between Musk and Bezos on Dec. 17 was the largest ever recorded between the first- and second-ranked names on Bloomberg’s wealth index.

“Across the board, the world’s wealthiest benefited from a stock market that defied expectations in 2024. The S&P 500 Index gained 24% through Monday, powered by the small group of stocks dubbed the “Magnificent Seven,” including Musk’s Tesla, Zuckerberg’s Meta Platforms Inc. and Huang’s Nvidia Corp., which accounted for more than half of the stock benchmark’s performance.”

The total value of the fortunes tracked by the Bloomberg Billionaires Index was $9.8 trillion at Monday’s close, down slightly from a Dec. 11 peak of $10.1 trillion following a post-Christmas selloff.

Here are some of this year’s biggest losers and winners as ranked by the BBI:

Losers
French luxury billionaires: The fortunes of Bernard Arnault, Francoise Bettencourt Meyers and Francois Pinault, whose wealth comes from holdings in the luxury goods sector, took big losses in 2024. After years of pandemic-fueled gains, when luxury shopping supplanted spending on dining and entertainment, slowing sales — especially in the key Chinese market — cost the three billionaires a total of $71 billion.

Colin Huang: Huang had the biggest wealth decline among Chinese billionaires. The e-commerce mogul behind Temu briefly became China’s richest person in August, but ended the year down $18 billion after a lackluster earnings report sent his company’s shares plummeting 29% in a single day.

Ricardo Salinas: The chairman of Grupo Elektra SAB, a Mexican retail and banking conglomerate, lost more than half of his net worth in a single day after his company’s stock tanked following Salinas’ claims that he was scammed by a former financial adviser. Salinas announced he would be taking the company private last week.

ALSO READ:  Ondo Govt. reacts to judgment nullifying 33 LCDAs

Carlos Slim: Slim, who has major stakes in Latin American businesses across the telecom, banking, construction and energy sectors, saw his net worth decline by $26 billion in 2024. His wealth was hurt by exchange rates — the peso fell about 20% after years of relative strength — and flagging markets after leftist candidate Claudia Sheinbaum’s June victory in Mexico’s presidential election.

Pham Nhat Vuong: The Vietnamese mogul, who has holdings in property development, retail and health care, saw shares in his electric vehicle company Vinfast Auto Ltd. fall about 70% early in the year after losses widened and the market soured on its aggressive expansion plans. The stock has since recovered some ground, but the decline cost Vuong nearly half of his fortune.

Winners
Donald Trump: The president-elect’s fortune soared to record highs this year, boosted by the performance of his majority stake in Trump Media & Technology Group Corp. Despite reporting a $19.2 million loss last quarter, DJT, as the social-media company is known, gained 95% this year, to a current market value of over $7 billion.

Jensen Huang: Nvidia CEO Huang has been one of the biggest individual winners of the AI boom so far, adding $76 billion to his net worth this year. Nvidia’s stock nearly tripled in 2024, and it became the world’s most valuable company for the first time in June.

Mark Zuckerberg: Despite a blockbuster $841 million antitrust fine from the EU and early-year hesitation from investors about the company’s multibillion-dollar AI push, the Meta CEO added $81 billion to his net worth this year as Meta stock gained nearly 70%.

ALSO READ:  Christian Youth Group Condemns Killings In Plateau, Benue States

Chinese billionaires: Chinese billionaires, including Tencent Holdings Ltd. CEO Pony Ma, Xiaomi Corp. Chairman Lei Jun and Cambricon Technologies Corp. co-founder Chen Tianshi, added 14% to their fortunes in 2024. Their gains reversed three straight years of losses spurred by an ongoing property crisis and government clampdowns on powerful tech firms.
Billionaires under age 60: The younger billionaires on the list grew their wealth more than twice as much as their older counterparts this year. Billionaires under 60 make up 27% of the index.

Channels

Continue Reading
Click to comment

Leave a Reply

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

News

Easter: Apostle Momo Urges Nigerians To Embrace Love, Unity

Published

on

The Senior Pastor and founder of Zion Flames Prophetic and Intercessory Ministries (ZFPIM),Apostle Promise Momo, has called on Nigerians to shun ethnic bigotry and embrace love and unity to move the nation forward.

In an Easter message personally signed and shared with journalists in Lagos, Apostle Momo emphasized the need for Nigerians to see one another as brothers and sisters, regardless of ethnic differences.

“We must look for ways to unify the nation in love, because united we stand and divided we fall,” he said.

The cleric condemned acts of hatred, violence, and exploitation, stating, “It is not the will of God to see people killing each other or hating one another, cheating one another, taking advantage of people, or preying on the weak.”

He urged Nigerians to build a society grounded in love and unity, warning that progress would remain elusive without these values.

Reflecting on the significance of Easter, Apostle Momo described the holiday as a cornerstone of Christian faith.

“Easter Sunday, or Resurrection Sunday, is one of the most significant Christian holidays on the calendar,” he said.

“The day commemorates the resurrection of the Lord Jesus Christ, who resurrected after three days in the tomb.”

Quoting John 3:16, he added, “Jesus Christ is love personified… I want to see love come back to life amongst we Nigerians.”

The pastor’s message comes at a time when Nigeria continues to grapple with ethnic tensions and social divisions, underscoring the urgency of his call for unity.

ALSO READ:  Ondo Govt. reacts to judgment nullifying 33 LCDAs
Continue Reading

News

Nigerians Are Bleeding, Hungry, Unsafe, Disillusioned, Says Kaigama in Easter Message

Published

on

Says Leadership Not Contest Of Noise

Says Nigerian Leaders Should Prioritize Governance over Politics

The Catholic Archbishop of Abuja Diocese, Most Rev Ignatius Kaigama has called on the Federal Government to address the challenges of insecurity, revive the economy, and restore the dignity of human lives because Nigeria is bleeding, people are hungry, unsafe and disillusioned.

According to him, as a people, the citizens must rise above despair, division, and violence and commit themselves to peace, justice, and truth.

“Our country is bleeding – our people are hungry, unsafe, and disillusioned. It is therefore imperative that politicians in government focus more on addressing the real challenges before us: ending insecurity, reviving the economy, and restoring the dignity of Nigerian lives”, he said

While describing the political tensions and institutional breakdown that led to the declaration of a state of emergency in Rivers State as “deeply troubling”, the cleric said that although government intervention in moments of crisis is sometimes necessary to restore order and protect democratic institutions, the government must be cautious in its reactions and avoid actions that could further polarize an already tense environment.

Kaigama said these in his Easter Message titled, “The Light Shines in the Darkness, and the Darkness Cannot Overcome It”, taken from John 1:5 and sent to Arise News in Abuja.

He said Easter is not just a Christian ritual—but a powerful reminder that light always follows darkness, and life prevails over death.

Kaigama said, “Yet, even as we celebrate, our hearts are heavy with grief and concern over the senseless bloodshed and insecurity that continue to plague our land.
We mourn the tragic and reckless killing of innocent travellers in Uromi, Edo State—lives cut short without reason or mercy.

ALSO READ:  NDLEA Nabs South African Smuggler At Abuja Airport

“We grieve the repeated violence and massacres in Bokkos and Bassa Local Government Areas of Plateau State, where entire communities are being decimated. These attacks have left families shattered and dreams destroyed, and they underscore the urgent need for a sincere and coordinated response to insecurity across Nigeria.
We are also alarmed by the continual hunger and economic hardship gripping our people. Families struggle daily to put food on the table, and children go to bed hungry in a nation so richly blessed.

“The desperation in the land is palpable, and it calls for immediate action from all levels of government, faith-based institutions, and citizens. As Jesus fed the multitudes with compassion, so must we work together to ensure that no Nigerian goes hungry in the midst of plenty.

“Equally distressing is the increasing trend of kidnapping and targeted attacks on clergy, especially priests who dedicate their lives to serving others. These brutal acts not only rob families of their loved ones but also strike at the heart of our moral and spiritual fabric. Every priest kidnapped or murdered is a blow to the conscience of our nation.

“In addition, the recent political tensions and institutional breakdown that led to the declaration of a state of emergency in Rivers State are deeply troubling. While government intervention in moments of crisis is sometimes necessary to restore order and protect democratic institutions, we must be cautious in our reactions and avoid actions that could further polarize an already tense environment.

“Let this moment serve as a call to all stakeholders – political leaders, traditional authorities, civil society, and citizens – to embrace dialogue over division. No democracy can thrive without the culture of give and take, live and let live.
Power, like life, is transient. Therefore, we must strive to build bridges and not burn them, to prioritize the welfare of the people over personal or party interests. Let us resist the temptation of inflammatory rhetoric and embrace peace, understanding, and mutual respect as the pathway to lasting stability.

ALSO READ:  Ondo Govt. reacts to judgment nullifying 33 LCDAs

“We must also be deeply concerned about the rising tide of acrimonious political rhetoric that is spreading across the nation. Words are powerful, and when used carelessly, they can inflame tensions and deepen our divisions. This is not yet the time for political campaigns or endless jostling for power.
Let us demand accountability and protection for every Nigerian, regardless of tribe, faith, or region.

He said since leadership is a sacred responsibility, not a contest of noise, Nigerian leaders should “prioritize governance over politics, solutions over slogans, and unity over personal ambition. Nigeria needs healing, not hostility.”

Kaigama said that in the face of the darkness that seems to surround Nigeria and envelop her lands, “we must not lose hope” as Easter teaches that even the tomb cannot hold back the power of resurrection.

“As a people, we must rise above despair, division, and violence. Let us commit ourselves to peace, justice, and truth. Let us demand accountability and protection for every Nigerian, regardless of tribe, faith, or region.

“This Easter, may the risen Christ ignite in us the courage to speak up against evil, the strength to support one another, and the wisdom to build a Nigeria where dignity and life are sacred once again. Let our celebration not just be of Christ’s resurrection, but of the renewal of our national spirit. May God bless Nigeria, and may peace reign in our hearts and across our land”, the cleric emphasized.

ENDS***

Continue Reading

National

Easter:Nigerian Church Donates Food, Others To Uganda Orphanage

Published

on

Zion Flames Prophetic and Intercessory Ministries, a Nigerian church, has extended its charitable outreach to Uganda, donating food items, diapers, and clothes to an orphanage in Kampala during Good Friday.

The gesture, aimed at sharing love with vulnerable children, underscores the church’s ongoing commitment to supporting disadvantaged communities across Africa.

Glory Momo, the church’s Director of Protocol and Communication Strategy, presented the items to the orphanage, emphasising the ministry’s five-year legacy of philanthropy.

“Our ministry has been known for charity work across Africa,” Momo said during the event.

In a statement issued to journalists on Sunday, he added, “We have reached out to less privileged communities, refugee communities, and provided scholarships to students in Nigeria and across Africa.”

The church’s mission, according to Momo, is divinely inspired.

“This is what God has called us to do as a church, and we will not relent. What you see us do here in Uganda is simply sharing love with those who need it most—children who have been abandoned.

“We will continue, as the Lord enables us, to show love across the continent and the world.”

This is not the first time Zion Flames Ministries International has supported vulnerable groups.

The church has a history of aiding disadvantaged communities in Nigeria, including hosting celebrations with orphans during the Christmas season.

The donation comes as part of the church’s broader efforts to uplift marginalised groups, with its leadership pledging to sustain such initiatives in Uganda and beyond.

ALSO READ:  Laguda Secures Commanding Victory In Lagos By-Election
Continue Reading