Elon Musk Dazes Nigeria Billionaires With His Growing Wealth: Makes $27.3B In 3Days - SUCCESSFUL PEOPLE MAGAZINE


Friday, July 5, 2024

Elon Musk Dazes Nigeria Billionaires With His Growing Wealth: Makes $27.3B In 3Days

Successful People Gist

 Elon Musk Dazes Nigeria Billionaires With His Growing Wealth: Makes $27.3B In 3Days

...He made $27.3B in 3days, which is $1.4billion more than Dangote's total net worth $13.5B, combined with Mike Adenuga's total net worth $6.7B and Arthur Eze's $5.8B; that are all $25.9B.

By: Charles Segun Adegbite

July 5, 2024. Successful People Gist

World richest person, Elon Musk, made $27.3 billions at the stock market in just three days; between Monday July 1 and Wednesday July 3, causing his total net worth to surge to $248.7Billion.

This stunned many people and dazed Nigerian billionaires as well, because none of them has half of what this tech giant made in just three days as their total net worth.

  The total net worth of Aliko Dangote, the richest man from the North, who is also Nigeria's and Africa's richest person, was $13.4billion according to Forbes ranking as of Thursday July 4, 2024.

The richest man from the West, who is also second richest man in Nigeria and 5th in Africa, Otunba Mike Adenuga has the total net worth of $6.7billion as of Thursday July 4.

The richest man from the East according to Intel Region, Arthur Eze (who is not in Forbes list of Real Time Billionaires) has total net worth of $5.8billion.

The total net worth of the trio, who are the richest Hausa/Fulani, Yoruba and Igbo,  were $25.9billion as of Thursday, which is $1.4billion lesser than what this 53years old CEO of Tesla and Founder of SpaceX made in just three days.

Dangote who had reached $15.4B in 2016 before he slumped, was $13.9B rich as of January 22, 2024. But he further experienced gradual decline to $13.4 as his total net worth. On Tuesday July 2 Musk on the other hand made $12billion.

While Adenuga whose net worth from $4Billion in 2015 had skyrocketed to $10Billion in 2016 experienced a lot of ups and downs since then until it fell to  $6.9B at the beginning of this year (January 22) but it further slumped to $6.7billion as of Thursday July 4, 2024. Whereas Musk made $6.7Billion on Monday July 1 alone.

Musk ended the month of June with $221.4billion as his net worth. On Monday July 1 he made $6.7Billion , on Tuesday he made $12billion, and $8.5B on Wednesday July 3, such that by Thursday his total net worth has reached $248.7Billion.

With this sudden surge in his wealth increase, he maintains a huge gap in leading the second richest person in the world, Jeff Bezos, who gained $2.6B at the stock on Tuesday, July 2, but lost $2.3B on Wednesday, thereby making his(Bezos') net worth which increased to $216.5B on Tuesday to slump to $214.3B on Wednesday, and remained so as of Thursday night of July 4.

READ ALSO: Top 10 Richest People In The World Today (July 2024)

Successful People Magazine analysis shows that Musk, whose total net worth at the beginning of this year was $195 Billion, lost his first rank in the world to Bernard Arnault in 2023 and only reclaimed it at the end of May 2024.

Musk had been in the third position of world top billionaires as of April, 2024, according to Forbes rankings, before he rose to the world richest on May 31, as his net worth rose from $195Billion in 2 April to $210.7B as of May 31.

His financial rise and fall saw his net worth dwindling drastically from the $210.7B he was on Monday June 3, to $206.1Billion on Wednesday, June 12, 2024.

  Like all other Billionaires, and as he had experienced before, he faced a huge financial setback when he lost $4.6billion within 9days; but he also bounced back by gaining $7.7B within two days in the first half part of June, and still maintained his rank as world's richest person.

He however began to soar with perpetual increase in his net worth at the stock market until he gained almost $40billions between June 3 and July 3.

Musk's sources of income are the six companies he cofounded, including electric car maker Tesla and Twitter (now X) which he bought from their founders.

His rare dedication to and unequal acquisition of diverse knowledge with in-depth commitment to application of  applied science, engineering and technology towards solving all manners of human problems have increased his opportunities to make wealth tremendously.

His adequate knowledge of business and economy which he constantly apply to make his products consumers' delight and also manage his companies optimally to make them highly profitable, have given him edge over his contemporaries.

All these have constantly been translating to more dollars for him at the stock market; especially his advancement in production of Artificial Intelligence (AI), humanoids and diversed robotic products to solve ever increasing human challenges.

However looking at the harsh business environments where the likes of Dangote, Mike Adenuga and the rest are operating, with costly energy supply, lack of security, bad road network, bad government policies, among others, one has to give a lot of thumbs up for the Nigerian Billionaires, irrespective of how they are making it.

This reality makes Forbes quotes Aliko Dangote as saying, "Nigeria is one of the best-kept secrets. A lot of foreigners are not investing because they're waiting for the right time. There is no right time"

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