International
Elon Musk loses World’s richest man title to Jeff Bezos as Dangote maintains top spot in Africa

Elon Musk loses World’s richest man title to Jeff Bezos as Dangote maintains top spot in Africa
Jeff Bezos has dethroned Elon Musk to reclaim his title as the world’s richest man after raking in a massive $23bn in 2024, while Musk has lost $31bn, the latest Bloomberg Billionaires Index has shown.
The Amazon founder’s net worth currently stands at $200bn, topping the Tesla chief’s $198bn, the Bloomberg Billionaires Index showed on Tuesday.
The billionaires’ wealth gains and losses closely tracked the stock market fortunes of Amazon and Tesla, who count their founders as their biggest shareholders.
Amazon’s share price has surged by more than 18 percent this year, while Tesla’s has dropped by 24 percent.
Despite selling $8.5bn worth of Amazon shares earlier this month, Bezos remains the biggest shareholder in the e-commerce giant with a 9.56 percent stake.
Musk has an equity stake in Tesla of about 20 percent.
In January, a judge in the United States struck down a Tesla pay package for Musk valued at up to $55.8bn after finding that the process for approving his remuneration was deeply flawed.
Musk, who also runs X and SpaceX, rose to the top of the rich list in May after toppling Bernard Arnault, the chairman and CEO of luxury goods company LVMH, who now ranks third with $197bn.
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Bezos, Musk and Arnault have jockeyed for the top spot in recent years in the ranking, which is based on fluctuations in the stock market and other economic data.
Meanwhile, Chairman Dangote Industries, Aliko Dangote maintained his position as Africa’s richest person.
The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement, which had revenue of 1.38 trillion naira ($3.4 billion) in 2021. It also has interests in sugar, salt, oil, fertilizer and packaged food.
As of March 5, 2024, Dangote gained $141m to keep his top spot.
The majority of Dangote’s fortune is derived from his 86% stake in publicly traded Dangote Cement. He holds the shares in the company directly and through his conglomerate, Dangote Industries.
Dangote’s other publicly traded assets include stakes in Dangote Sugar, Nascon Allied Industries and United Bank for Africa. His stakes in the publicly traded companies are held directly and through Dangote Industries, which also owns closely held businesses operating in food manufacturing, fertilizer, oil and other industries.
His most valuable closely held asset is a fertilizer plant with capacity to produce up to 2.8 million tonnes of urea annually. Its net value is based on a discounted cash flow analysis by KPMG. The valuation was confirmed by outside analysts.
A $19 billion oil refinery that is currently being developed in Nigeria isn’t included in the valuation because it’s not yet operational.
The billionaire owns six residential and commercial properties in Lagos. They are valued using the capitalization method, using rental income provided by Dangote’s spokesman, Anthony Chiejina, and capitalization rates from CBRE Broll Nigeria.
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His cash holdings are based on an analysis of dividends, taxes, insider transactions and other expenditures.
See the list of the world’s top ten richest below:
Rank Name Total net worth ($) Last change $ YTD change Country / Region Industry
1 Jeff Bezos $200B -$500M +$23.4B United States Technology
2 Elon Musk $198B -$17.6B -$31.3B United States Technology
3 Bernard Arnault $197B -$1.84B +$18.3B France Consumer
4 Mark Zuckerberg $179B -$1.42B +$50.7B United States Technology
5 Bill Gates $150B +$475M +$8.88B United States Technology
6 Steve Ballmer $143B -$125M +$12.6B United States Technology
7 Warren Buffett $133B -$1.26B +$13.4B United States Diversified
8 Larry Ellison $129B -$242M +$6.26B United States Technology
9 Larry Page $122B -$2.86B -$4.09B United States Technology
10 Sergey Brin $116B -$2.66B -$3.76B United States Technology
Elon Musk loses World’s richest man title to Jeff Bezos as Dangote maintains top spot in Africa
International
Iran warns US against attack, threatens with nuclear weapon

Iran warns US against attack, threatens with nuclear weapon
Iran would have no alternative but to acquire a nuclear weapon if attacked by the United States or its allies, an adviser to the country’s supreme leader warned on Monday, following a threat by Donald Trump.
The comments came hours after the supreme leader himself, Ayatollah Ali Khamenei, had promised to hit back if the US president made good on his threat to bomb the Islamic republic if it did not agree to a deal to curb its nuclear programme.
“We are not moving towards (nuclear) weapons, but if you do something wrong in the Iranian nuclear issue, you will force Iran to move towards that because it has to defend itself,” Khamenei’s adviser Ali Larijani said in an interview with state TV.
“Iran does not want to do this, but… (it) will have no choice,” he added.
“If at some point you (the US) move towards bombing by yourself or through Israel, you will force Iran to make a different decision.”
In an interview on Saturday, Trump had said “there will be bombing” if Iran did not agree to a new nuclear deal, according to NBC News, which said he also threatened to punish Tehran with what he called “secondary tariffs”.
Trump’s language represented a sharpening of his rhetoric, though it was not clear whether he was threatening bombing by US planes alone or perhaps in an operation coordinated with another country, possibly Iran’s nemesis Israel.
“They threaten to do mischief,” Khamenei said of the remarks during a speech on Eid al-Fitr, the holiday marking the end of the Muslim fasting month of Ramadan.
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“If it is carried out, they will definitely receive a strong counterattack.”
Iranian foreign ministry spokesman Esmaeil Baqaei, in a post on X, said the threat was “a shocking affront to the very essence of international peace and security”.
Baqaei warned of unspecified “consequences” should the United States choose a path of “violence”.
Western countries including the United States have long accused Iran of pursuing a nuclear weapon, which Tehran has denied, insisting its enrichment activities were solely for peaceful purposes.
The 2015 nuclear deal between Tehran and world powers required Iran to limit its nuclear ambitions in exchange for sanctions relief.
– ‘Indirect’ channel –
On March 7, Trump said he had written to Khamenei to call for nuclear negotiations and warn of possible military action if Tehran refused.
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The letter was delivered to Tehran on March 12 by UAE presidential adviser Anwar Gargash, Iranian news agency Fars reported at the time.
On Thursday, Iranian Foreign Minister Abbas Araghchi said the country had delivered a response via intermediary Oman, without detailing its content.
Araghchi said Iran would not engage in direct talks “under maximum pressure and the threat of military action”.
In his remarks, however, the minister left open the door for “indirect negotiations”.
According to NBC, Trump also said US and Iranian officials were “talking,” but he did not give details.
President Masoud Pezeshkian on Sunday said Khamenei, who as supreme leader has the final say in major state policies, had permitted indirect talks.
Oman has served as an intermediary in the past, in the absence of US-Iranian diplomatic relations severed after the 1979 Islamic revolution.
On Monday, Araghchi said the United States had received Iran’s letter.
“We have been informed by our friends in Oman that the letter has reached its destination and has been read.”
Beyond its nuclear programme, the West also accuses Iran of using proxy forces to expand its influence in the region, a charge Tehran rejects.
“There is only one proxy force in this region, and that is the corrupt usurper Zionist regime,” Khamenei said, calling for Israel to be “eradicated”.
Iran warns US against attack, threatens with nuclear weapon
International
‘Bitcoin could replace U.S. Dollar as global currency’

‘Bitcoin could replace U.S. Dollar as global currency’
BlackRock Chairman and CEO Larry Fink acknowledged in his 2025 annual letter that Bitcoin could challenge the U.S. dollar’s status as the global reserve currency.
“If the U.S. doesn’t get its debt under control, if deficits keep ballooning, America risks losing that position to digital assets like Bitcoin,” Fink wrote in BlackRock’s March 2025 letter.
The statement marks a significant shift from the head of the world’s largest asset manager, recognizing digital assets as potential alternatives to the dollar.
Throughout the letter, Fink mentioned Bitcoin seven times and the dollar eight times, signaling the growing relevance of digital currencies in financial discourse.
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BlackRock’s letter frames Bitcoin as both an innovation and a risk, warning that if investors view it as a more stable long-term store of value than the dollar, it could undermine U.S. financial primacy.
Fink stressed that “two things can be true at the same time,” referring to both innovation and risk in digital asset development.
Beyond Bitcoin, Fink positioned tokenization as a transformative force for capital markets, likening it to the shift from postal mail to email.
He argued that tokenized assets could bypass financial intermediaries and democratize access to investments through fractional ownership and improved voting systems.
BlackRock also highlighted India’s digital identity system as a model for secure transactions, with over 90% of Indians verifying smartphone transactions—a benchmark for future tokenized economies.
‘Bitcoin could replace U.S. Dollar as global currency’
International
Aide to Israel’s Netanyahu arrested in PM corruption probe

Aide to Israel’s Netanyahu arrested in PM corruption probe
Israeli police announced on Monday the arrest of two individuals, one of whom was confirmed by Prime Minister Benjamin Netanyahu’s ruling Likud party as a senior aide to the long-serving leader.
Israeli media identified the two men as Yonatan Urich and Eli Feldstein, both reportedly aides to the prime minister and allegedly linked to what has been dubbed locally as the “Qatargate Affair.”
The arrests ratchet up political tensions in the country, where the government is trying to fire both the domestic security chief and attorney general, while expanding the power of politicians over the appointment of judges.
The moves have reignited a protest movement in Israel, coinciding with the government’s resumption of fighting this month in the Gaza Strip.
Feldstein had separately been arrested late last year and released to house arrest on accusations of leaking a classified document related to hostage negotiations in Gaza, to shift critical media coverage of the Israeli leader.
Media reports on Monday further indicated that Netanyahu himself is expected to be questioned by police in connection with the Qatargate case .
Netanyahu is separately on trial over corruption allegations that he denies.
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“Following an investigation being conducted by the National Unit for International Investigations (YAHBAL)… two suspects were arrested today for questioning,” the police said in a statement, noting that the case remains under a court-imposed gag order.
– ‘A new low’ –
Israeli media also reported that a journalist from a prominent Israeli publication had been summoned for questioning.
AFP was unable to independently verify the identities of those arrested.
Requests for confirmation from Netanyahu’s office were not immediately answered.
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