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

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Elon Musk, Jeff Bezos

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

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Israel ejects Gaza hospital, detains medical personnel

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A wounded Palestinian man evacuated from Kamal Adwan Hospital in northern Gaza is brought to Al-Ahli al-Arabi Hospital

Israel ejects Gaza hospital, detains medical personnel

The last major functioning hospital in northern Gaza was forcibly evacuated by the Israeli military on Friday after dozens of people were reportedly killed in Israeli strikes targeting the area.

Medical staff, including the director of the Kamal Adwan Hospital, have also been detained, Gaza health officials said on Saturday.

The hospital director, Dr Hussam Abu Safiya, was among the first to report that about 50 people had been killed in Israeli air strikes targeting the vicinity of the hospital on Friday.

The IDF had said it was carrying out an operation in the area, alleging the hospital was a “Hamas terrorist stronghold”.

On Friday, patients at the hospital were forcibly moved to the nearby Indonesian Hospital which doctors warn is damaged and unsuitable due to a lack of power generators and water.

Eid Sabbah, head of the nursing department at Kamal Adwan, told the BBC the military had ordered the evacuation around 07:00 on Friday, giving the hospital about 15 minutes to move patients and staff into the courtyard.

Israeli troops then entered the hospital and removed the remaining patients, he said.

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The IDF said it had “facilitated the secure evacuation of civilians, patients and medical personnel” before beginning the operation.

Seriously ill patients were moved to the nearby Indonesian Hospital, itself evacuated earlier in the week, which medics have described as non-functional.

“You can’t call it a hospital, it’s more of a shelter. It’s not equipped for patients,” Gaza’s deputy minister of health, Dr Abu-Al Rish, told the BBC on Friday.

Dr Sabbah, from Kamal Adwan Hospital, said: “It’s dangerous because there are patients in the ICU department in a coma and in need of ventilation machines and moving them will put them in danger.”

He had said critically ill patients needed to be moved in specialised vehicles.

The World Health Organization said the raid “has put this last major health facility in north Gaza out of service”.

“Initial reports indicate that some key departments were severely burnt and destroyed during the raid,” it posted on X on Friday.

Nadav Shoshani, international spokesman for the Israel Defense Forces (IDF), said in a post on Friday evening on X that a “small fire broke out in an empty building inside the hospital that is under control”.

This was when IDF troops were not inside the hospital, he said, adding that “after preliminary examination, no connection was found between IDF activity to the fire”.

The director of Kamal Adwan hospital had said on Friday that approximately 50 people had been killed, including five medical staff, in a series of Israeli air strikes targeting the vicinity of the hospital.

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The statement from Dr Hussam Abu Safiya said a building opposite the hospital was targeted by Israeli warplanes, leading to the death of a paediatrician and a lab technician, as well as their families.

He said a third staff member who worked as a maintenance technician was targeted and killed as he rushed to the scene of the first strike.

Two of the hospital’s paramedics were 500m (1,640ft) away from the hospital when they were targeted and killed by another strike, the statement continued, with their bodies remaining in the street with no-one able to reach them.

The Israeli military said on Friday morning that it was “unaware of strikes in the area of Kamal Adwan hospital” and was looking into the reports that staff had been killed.

Kamal Adwan hospital in Beit Lahia has been under a tightening Israeli blockade imposed on parts of northern Gaza since October, when the military said it had launched an offensive to stop Hamas from regrouping there.

The UN has said the area is under a “near-total siege” as the Israeli military heavily restricts access of aid deliveries to an area where an estimated 10,000 to 15,000 people remain.

In recent days, the hospital’s administrators have issued desperate pleas appealing to be protected, as they say the facility has become a regular target for Israeli shelling and explosives.

Oxfam said that attempts by aid agencies to deliver supplies to the area since October had been unsuccessful because of “deliberate delays and systematic obstructions” by the Israeli military.

Additional reporting by Shaimaa Khalil

Israel ejects Gaza hospital, detains medical personnel

BBC

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Trump asks Supreme Court to suspend law for TikTok ban

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President-elect Donald Trump

Trump asks Supreme Court to suspend law for TikTok ban

US President-elect Donald Trump filed a brief Friday urging the Supreme Court to pause a law that would ban TikTok the day before his January 20 inauguration if it is not sold by its Chinese owner ByteDance.

“In light of the novelty and difficulty of this case, the court should consider staying the statutory deadline to grant more breathing space to address these issues,” Trump’s legal team wrote, to give him “the opportunity to pursue a political resolution.”

Trump was fiercely opposed to TikTok during his 2017-21 first term, and tried in vain to ban the video app on national security grounds.

The Republican voiced concerns — echoed by political rivals — that the Chinese government might tap into US TikTok users’ data or manipulate what they see on the platform.

US officials had also voiced alarm over the popularity of the video-sharing app with young people, alleging that its parent company is subservient to Beijing and that the app is used to spread propaganda, claims denied by the company and the Chinese government.

Trump called for a US company to buy TikTok, with the government sharing in the sale price, and his successor Joe Biden went one stage further — signing a law to ban the app for the same reasons.

– Reversing course –

Trump has now, however, reversed course.

At a press conference last week, Trump said he has “a warm spot” for TikTok and that his administration would take a look at the app and the potential ban.

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Earlier this month, the president-elect met with TikTok CEO Shou Zi Chew at his Mar-a-Lago residence in Florida.

Recently, Trump told Bloomberg he had changed his mind about the app: “Now (that) I’m thinking about it, I’m for TikTok, because you need competition.”

“If you don’t have TikTok, you have Facebook and Instagram — and that’s, you know, that’s Zuckerberg.”

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Romeo and Juliet actress Olivia Hussey dies at 73

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Actress Olivia Hussey

Romeo and Juliet actress Olivia Hussey dies at 73

Actress Olivia Hussey, who shot to international prominence as a teenager for her role in the acclaimed 1968 film version of Romeo and Juliet, has died aged 73.

The Argentinian-born actress, who grew up in London, died on Friday surrounded by her loved ones, a statement posted on her Instagram said.

Hussey won the best new actress Golden Globe for her part as Juliet, but decades later she sued Paramount Pictures for sexual abuse as she was aged just 15 when she filmed the movie’s nude scene.

Her other most notable screen role was as Mary, mother of Jesus, in 1977 TV miniseries Jesus of Nazareth.

“As we grieve this immense loss, we also celebrate Olivia’s enduring impact on our lives and the industry,” the statement said.

Hussey was born in Buenos Aires, Argentina, in 1951, before moving to London aged seven and studying at the Italia Conti Academy drama school.

1968’s Romeo and Juliet was nominated for best picture and director Oscars

She was 15 when Romeo and Juliet director Franco Zeffirelli discovered her onstage, playing opposite Vanessa Redgrave in the play The Prime of Miss Joan Brodie

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Zeffirelli was looking for someone who was young enough to be a convincing Juliet in what he intended to be the definitive cinematic version of the Shakespeare play.

He cast Hussey alongisde British 16-year-old Leonard Whiting as Romeo in the film.

The film was nominated for an Oscar for best picture and director. Hussey missed out on an Oscar nomination herself in a strong year in which Barbra Streisand won the main award for Funny Girl.

But at that year’s Golden Globes Hussey won the award for best new star.

Decades later, she and Whiting sued Paramount Pictures alleging Zeffirelli – who died in 2019 – had encouraged them to film nude scenes despite previous assurances they would not have to.

The pair sought damages of more than $500m (£417m), based on suffering they said they had experienced and the revenue brought in by the film since its release.

But last year a judge dismissed the case, finding the scene was not “sufficiently sexually suggestive”.

In 1977, Hussey had reunited with Zeffirelli for Jesus of Nazareth to play the Virgin Mary, before appearing in Death on the Nile a year later based on Agatha Christie’s novel.

Her roles in early slasher film Black Christmas (1974) and TV film Psycho IV: The Beginning earned her recognition as a scream queen. In the latter, she p[layed Norman Bates’s mother in a prequel storyline.

In later years she also took on work as a voice actress, appearing frequently in video games.

But she did have one final reunion with her former Romeo – as she and Whiting appeared together in the 2015 British film Social Suicide, which was loosely based on Romeo and Juliet, albeit set in the social media era.

 

Romeo and Juliet actress Olivia Hussey dies at 73

BBC

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