Latest news with #ForbesReal-TimeBillionairesList
Express Tribune
2 days ago
- Business
- Express Tribune
Elon Musk's net worth slumps by $27 billion after feud with Trump: report
Listen to article Elon Musk faced a significant financial setback on Thursday, losing approximately $27 billion from his net worth after a dramatic plunge in Tesla's stock, according to a report by the Wall Street Journal. Shares of Tesla (TSLA.O) dropped 14% overnight, erasing $150 billion in market value, following a public feud between Musk and Trump. Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate. — Elon Musk (@elonmusk) June 5, 2025 In the aftermath, Trump threatened to cut off government contracts to Musk's companies, escalating tensions between the two. False, this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it! — Elon Musk (@elonmusk) June 5, 2025 However, Tesla shares saw a slight rebound, bouncing 0.8% in after-hours trading. Read more: Musk accuses Trump of being named in Epstein files Despite the loss, Musk remains the world's richest individual, with an estimated net worth of $388 billion, according to the Forbes Real-Time Billionaires List. The Tesla and SpaceX CEO's wealth remains substantially ahead of the second-ranked Mark Zuckerberg, whose net worth stands at $236 billion. Meanwhile, President Donald Trump, whose net worth is estimated at $5.4 billion, is at No. 689 on the Forbes ranking. Also read: Trump, Musk feud explodes with threats of cutting contracts, backing impeachment
Time of India
25-04-2025
- Business
- Time of India
Bill Gates net worth in April 2025: Investments, philanthropy, and financial breakdown
Bill Gates Net Worth As of April 2025, Bill Gates remains one of the wealthiest individuals in the world, continuing to exert global influence through both financial investments and philanthropic initiatives. Despite stepping away from his executive role at Microsoft over a decade ago and donating tens of billions to charitable causes, Gates maintains a net worth exceeding $100 billion. The co-founder of Microsoft and current chairman of the Bill & Melinda Gates Foundation, Gates has diversified his portfolio significantly over the years. His fortune is now driven largely by strategic investments managed through Cascade Investment LLC and bolstered by his legacy in the tech sector. Bill Gates' net worth hits $104.6 billion in April 2025, ranks #14 globally According to the Forbes Real-Time Billionaires List , Bill Gates' estimated net worth as of April 2025 stands at $104.6 billion, placing him at #14 on the global wealth rankings. This valuation accounts for a decade of large-scale philanthropy, including his landmark $20 billion donation to the Gates Foundation in 2022. Gates' consistent presence in the upper echelon of the billionaire ranks is attributed to his diversified investment strategy and long-standing stake in Microsoft, even as his holdings in the company have decreased over time. Transition from Microsoft to investments by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo Microsoft holdings At his peak, Gates held a dominant stake in Microsoft. However, since resigning from the company's board in 2020, he has steadily reduced his ownership. By 2025, he owns less than 1% of Microsoft's total outstanding shares. Despite the reduction, this still represents billions of dollars in value given Microsoft's current market capitalization exceeding $2.5 trillion. Cascade Investment LLC A significant portion of Gates' wealth is now managed through Cascade Investment LLC, a private investment firm he established with the help of financial advisor Michael Larson. Cascade's portfolio spans multiple sectors, including: Waste Management (Republic Services) Industrial Equipment (Deere & Co.) Hospitality (Four Seasons Hotels and Resorts) Water and Hygiene (Ecolab) Food & Beverage (Coca-Cola FEMSA and Canadian National Railway) These diversified holdings have allowed Gates to reduce dependency on tech and ensure long-term financial stability. How Bill Gates makes money today: Investments, not salary Bill Gates no longer earns from corporate salaries or direct product revenues. Instead, his wealth is sustained through: Investment income Dividends and capital gains from Cascade's holdings Returns from real estate and equity investments Royalties from books and speaking engagements Though he spends much of his time on philanthropic work, his investments continue to generate substantial returns, ensuring his net worth remains in the multi-billion-dollar range. Bill Gates no longer #1, but still richer than Zuckerberg and Buffett While Gates was once the richest person in the world, he has since been surpassed by tech entrepreneurs such as Elon Musk and Jeff Bezos, who currently have estimated net worths between $200 billion and $300 billion. However, Gates still ranks higher than: Warren Buffett (~$119 billion) Larry Page (~$109 billion) Mark Zuckerberg (~$96 billion) Satya Nadella (~$1.4 billion) Sundar Pichai (~$1.3 billion) Gates' lower rank is largely due to his extensive charitable giving, but his wealth still surpasses many current tech executives and CEOs. Bill Gates' philanthropy and global impact Bill & Melinda Gates Foundation Gates has donated more than $59 billion to the Bill & Melinda Gates Foundation, making it the largest private philanthropic organization in the world. The foundation focuses on: Global health and vaccine development Sanitation and clean water access Educational equity and digital access Agricultural innovation in developing nations The 2022 donation of $20 billion marked a major milestone in Gates' ongoing pledge to give away the majority of his fortune. The Giving Pledge Gates is also a co-founder of The Giving Pledge, a global movement encouraging billionaires to commit at least half their wealth to charitable causes during their lifetimes. He has stated publicly that his children will inherit only a modest portion of his wealth, emphasizing values of self-reliance and service. Bill Gates' assets and lifestyle Unlike many billionaires who invest heavily in luxury items or space travel, Gates is known for a relatively modest lifestyle. His primary residence is a technologically advanced mansion known as Xanadu 2.0 in Medina, Washington, estimated to be worth over $130 million. The 66,000-square-foot estate features: An earth-sheltered design A 60-foot pool with underwater music system A 2,100-square-foot library with a Leonardo da Vinci manuscript He also owns farmland across the U.S. and a collection of classic cars, but his lifestyle reflects more practicality than extravagance. Future plans and global influence In 2025, Bill Gates continues to be a central figure in global conversations surrounding: Climate change and sustainable energy Pandemic preparedness AI regulation and tech ethics Global education equity Gates frequently publishes reports, appears at international summits, and collaborates with governments and NGOs to support large-scale initiatives. Though he no longer holds a corporate title, his influence in both philanthropy and technology remains substantial. Also read | Genshin Impact Codes | Fruit Battlegrounds Codes | Blox Fruits Codes | Peroxide Codes
Zawya
19-02-2025
- Business
- Zawya
Forbes: Nigerian entrepreneur Aliko Dangote's wealth surges by almost 100 per cent to $23.9bln, now 86th richest in the world
BILLIONAIRE Aliko Dangote has seen his wealth nearly double to $23.9 billion, according to Forbes, which ranks the Nigerian entrepreneur as the wealthiest person in Africa and 86th in the world. It would be recalled that Forbes ranked Aliko Dangote as the 144th richest person in the world in 2024 with $13.4 billion. Forbes estimates Dangote's net worth at $23.9 billion, primarily due to his 92.3 percent stake in Dangote Petroleum Refinery & Petrochemicals. At 67 years old, Dangote is once again one of the top 100 richest individuals worldwide, a position he has not held since 2018, according to the Forbes Real-Time Billionaires List. This places him significantly ahead of South African Johann Rupert, who is ranked 161st in the world with an estimated wealth of $14.4 billion and very far above Mike Adenuga, who is the second richest in Nigeria and 481, in the world, with a net worth of $6.8 billion. Dangote disrupted the government's oil monopoly by constructing the largest petroleum refinery in Africa. After 11 years, a $23 billion investment, and numerous challenges, the Dangote Refinery began operations last year. Located on a vast 6,200-acre site in the Lekki Free Zone, the refinery, at full capacity, will process a remarkable 650,000 barrels per day (b/d), making it the seventh-largest refinery in the world and the largest in Africa. Additionally, the refinery's adjacent petrochemical complex has an annual production capacity of 3 million metric tons of urea, making it Africa's largest fertiliser producer. The Dangote Refinery is already having a significant impact on global energy markets. Imports of petroleum into Nigeria are on track to reach an eight-year low, affecting European refiners that have traditionally sold to Nigeria, according to energy intelligence firm Vortexa. Furthermore, Nigeria has become a net exporter of jet fuel, naphtha (a solvent used in varnishes, laundry soaps, and cleaning fluids), and fuel oil, according to S&P Global. Related News Dangote hails Tinubu on impact of naira-for-crude swap deal Mo Abudu makes Forbes 100 Most powerful women for 3rd year Access Bank, only Nigerian company on Forbes 2024 World's best employers list Dangote sees the refinery as part of a larger vision to transform Nigeria, one of the world's largest crude oil producers, into a major producer of refined petroleum products. This would enable Nigeria to compete with European refineries and supply gasoline to Nigerian consumers. 'I want to provide a blueprint for industrialisation across Africa,' Dangote says in an interview with Forbes. 'We have to build our nation by ourselves. We have to build our continent by ourselves, not [rely on] foreign investment.' He believes Africa has long been 'a mere dumping ground for finished products,' and his refinery represents 'a pivotal step in ensuring that Africa can refine its own crude oil, thereby creating wealth and prosperity for its vast population.' Dangote said the refinery is the biggest risk of his life and without success, it would have affected him greatly. 'It was the biggest risk of my life,' says Dangote about his decision to embark on the project. 'If this didn't work, I was dead.' Zainab Usman, director of the Africa Programme at the Carnegie Endowment for International Peace, according to Forbes, said Nigerians see Dangote as a hero and a real industrialist transforming the country. 'He is seen in most parts of Nigeria as a hero. He is seen as a real industrialist who builds things,' she said. A professor of African studies at the Soka University of America, Chika Ezeanya, also corroborated this view, noting that Dangote is meeting the needs of consumers on the continent. 'I think he's believed staunchly in the fact that Nigerians need products that he has to offer,' he said while adding, 'Governments can come and go, policies can be changed, but the needs of the Nigerian consumer will only grow and expand.'
