Connect with us

Billionaire Watch

Technology Has the Most Millennial Billionaires; $254.5 Billion in Combined Net Worth

Published

on

Mark Zuckerberg - Investors King

The technology sector has the highest number of millennial billionaires (23 – 38 years old) with a combined net worth of $254.5 billion and 28 billionaires.

In the latest data from Forbes, finance and investments came second with $24.6 billion in combined net worth and 8 millennial billionaires as shown below.

The Industries with the Most Millennial Billionaires

Rank

Industry

No. of Millennial Billionaires

Collective Net Worth of Millennial Billionaires in Industry (USD$ – Billion)

1.

Technology

28

$254.5

2.

Finance and Investments

8

$24.6

3.

Automotive

6

$17.2

3.

Fashion & Retail

6

$27

3.

Healthcare

6

$11

3.

Media and Entertainment

6

$37

4.

Manufacturing

5

$14.1

5.

Metals and Mining

4

$6.4

5.

Property

4

$9.9

6.

Energy

2

$7.7

6.

Food and Beverage

2

$8

7.

Service

1

$1.2

8.

Construction & Engineering

0

$0

8.

Gambling and Casinos

0

$0

8.

Logistics

0

$0

8.

Sports

0

$0

8.

Telecommunications

0

$0

According to the data, there are presently 78 millennial billionaires in the world with an astonishing combined net worth of $418.6 billion.

Mark Zuckerberg, CEO and Co-founder, Facebook Inc, led with a sizeable net worth of $97 billion. Followed by Zhang Yiming, the founder of the content media platform, ByteDance, who has a net worth of $35.6 billion. See the top 10 below.

The 10 Richest Millennial Billionaires in the World:

The 10 Richest Millennial Billionaires in the World

Rank

Name

Age

Industry

Net Worth (USD$ – Billion)

1.

Mark Zuckerberg

36

Technology

$97

2.

Zhang Yiming

37

Technology

$35.6

3.

Dustin Moskovitz

36

Technology

$17.8

4.

Pavel Durov

36

Technology

$17.2

5.

Lukas Walton

34

Fashion and Retail

$15.6

6.

Cheng Yixiao

37

Media and Entertainment

$14.1

7.

Nathan Blecharczyk

37

Technology

$12.4

8.

Bobby Murphy

32

Technology

$11.9

9.

Evan Spiegel

30

Technology

$11.1

10.

Sam Bankman-Fried

29

Finance and Investments

$8.7

10.

Agnete Kirk Thinggaard

37

Manufacturing

$8.7

 

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Billionaire Watch

Elon Musk’s Net Worth Jumps by $36.2 Billion in 24 Hours

Published

on

Elon Musk's SpaceX Raised $850 million at $74 billion valuation

Just like Elon Musk is redefining inventions, modern entrepreneurial approaches and marketing in general, the world’s richest man has started redefining what it means to be a billionaire.

The net worth of Elon Musk, the co-founder and Chief Executive Officer (CEO) of Tesla Inc., jumped by $36.2 billion in the last 24 hours, according to the Bloomberg Billionaire Index, an index that tracks the wealth of billionaires.

Musk’s total net worth jumped to $289 billion after gaining $36.2 billion within 24 hours. Year-to-date, Elon Musk’s total net worth has risen by $119 billion.

The net worth of Musk rose after Hertz Global Holdings Inc. ordered 100,000 electric vehicles from Tesla Inc., in a move to switch from fuel-powered vehicles to an electric-powered rental-car fleet.

Price of Tesla stock rose by $115.18 or 12.66 percent on Monday immediately after Hertz announced that customers can now rent Tesla Model 3 cars at airports in major cities in the U.S and Europe starting from November 2021.

The increase in price pushed Tesla’s valuation to $1.01 trillion on Monday to make the company the fasted organisation to attain a trillion valuation status within two years of hitting a $100 billion valuation.

Elon Musk now leads Jeff Bezos, Amazon founder, with an astonishing $96 billion in net worth. See the table below.

Elon Musk's Net Worth

Continue Reading

Billionaire Watch

FBN Holdings Confirms Femi Otedola’s 5.07 Percent Stake in FirstBank

Published

on

Femi Otedola

FBN Holdings has finally confirmed that Mr. Femi Otedola and his nominee Calvados Global Services Limited acquired a total of 1,818,551,625 units of shares from the company’s issued capital of 35,895,292,791. The acquisition means the stake of Mr. Otedola in FBN Holdings stands at 5.07 percent as of Friday, 22 October 2021.

FBN Holdings communicated this in a disclosure signed by the company’s secretary, Mr Seyi Kosoko and filed with the Nigerian Exchange Limited on October 23, 2021.

FBN Holdings initially released a statement denying media reports of any acquisition by any individual in the company but promised to notify the appropriate agencies and authorities as soon as it receives any notice of significant shareholding by the Shareholders and the company’s registrars.

The company finally confirmed the reports as it received a notification from APT Securities and Funds that their client Mr Femi Otedola had made acquisitions.

The full statement read “We refer to our communication to the market dated October 22, 2021 on the above subject wherein we stated that we would inform the public of any substantial acquisition, upon receipt of notification from the Shareholder. 

This morning, October 23, 2021, FBN Holdings Plc received a notification from APT Securities and Funds Limited, that their client, Mr Otedola Olufemi Peter and his nominee, Calvados Global Services Limited have acquired a total of 1,818,551,625 units of shares from the Company’s issued share capital of 35,895,292,791.

Based on the foregoing, the equity stake of Mr Otedola Olufemi Peter and his nominee in the Company is now 5.07%

This move marks Mr Otedola’s entry into the banking sector having sold his 75 percent direct and indirect stake in Forte Oil, an importer of fuel products in 2019. After the sale of his stake in Forte Oil, Mr. Otedola shifted his focus to the power sector with a stake in Geregu Power Plc. He currently serves as the chairman of the company.

Geregu Power Plc is a power generation company registered in Kogi State.

Continue Reading

Billionaire Watch

Dangote Emerged As the Only Nigerian On Bloomberg’s Top Billionaires’ List

Published

on

Dangote

Africa’s richest man, Aliko Dangote, has significantly moved up in the World billionaires’ list as his fortune increased to $17.8 billion as against last year’s $14.8 billion to emerge as the only Nigerian in Bloomberg’s yearly top billionaire lists.

Other Africans on the list are three South Africans. They are Johann Rupert and his family, worth $10.1 billion; Nicky Oppenheimer with a worth of $7.80 billion and Natie Kirsh who is reputed to be worth $7.15 billion. Nassef Sawiris from Egypt is also among African billionaires with a worth of $6.93 billion.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. In calculating net worth, Bloomberg News strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person’s fortune is tallied.

The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York. Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. dollars at current exchange rates.

Dangote, who remains the richest man in Africa for the 8th year running, was the only Nigerian on the list of the top 120 billionaires, as released on Monday by Bloomberg in its yearly billionaires’ list.

Ellon Musk and Jeff Bezos are the richest in the world with $194 billion in their respective kitty while Bernard Arnault and Bill Gates followed respectively with $174 billion and $148 billion. Mark Zuckerberg was the fifth richest with $135 billion on the world’s billionaires’ chart.

Bloomberg is a global information and technology company, that connect decision makers to a dynamic network of data, people and ideas – “accurately delivering business and financial information, news and insights to customers around the world” Bloomberg L.P. provides financial software tools such as an analytics and equity trading platform, data services, and news to financial companies and organisations.

Dangote with his improved worth of $17.8 billion, controls Dangote Industries, a closely-held conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement. It also has interests in sugar, salt, fertilizer and packaged foods.

Aliko Dangote was also recently named as the sixth most charitable man in the World by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom. This recognition came after he endowed his foundation, the Aliko Dangote Foundation (ADF) to the tune of $1.25 billion.

Aliko Dangote started his Foundation in 1981, with a mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities.

Aliko Dangote Foundation was, however, incorporated in 1994 as a charity in Lagos, Nigeria. Twenty years later, the Foundation has become the largest private Foundation in sub-Saharan Africa, with the largest endowment by a single African donor. The primary focus of the Aliko Dangote Foundation is health and nutrition, supported by wrap-around interventions in education, empowerment, and humanitarian relief.

Other Nigerian billionaires, including Mike Adenuga and Abdulsamad Rabiu, were missing on the list as their net worth fell short of American billionaire Buba Cathy, who placed 500th with a net worth of $5.83bn as estimated by Bloomberg.

Continue Reading




Advertisement
Advertisement
Advertisement

Trending