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Automaker CEO Elon Musk becomes world richest man

Chief Executive Officer of electric car company, Tesla, Elon Musk, has become the world’s richest man, with a net worth of more than $185 billion.
The South Africa-born American overtook Jeff Bezos, Amazon CEO, on Thursday, following a 4.8 per cent surge in Tesla’s share price, US media said on Thursday. Bezos had been the richest person since 2017 and is currently worth about $184 billion.
Musk is a major shareholder of the electric car company and has benefited from Tesla’s surging share price over the last year. CNBC estimated Musk’s wealth at $185 billion.
Musk, who also leads the aerospace venture SpaceX in addition to Tesla, has become a pacesetter for the car industry as conventional automakers try to catch up with Tesla’s lead in electric autos.
Tesla recorded tremendous success in 2020 as it ramped up auto production, broke ground on new factories and reported a series of profitable quarters.
This enabled its shares to rise more than 700 per cent during the year as it was added to the prestigious S&P 500 index.
According to CNBC, Musk started 2020 with about $27 billion, and was barely in the top 50 richest people.
Tesla’s rocketing share price — which has increased more than nine fold over the past year — along with his generous pay package has added more than $150 billion to his net worth.
Musk passed Warren Buffett in July to become the seventh-richest person. In November, Musk raced past Bill Gates to become the second-richest person. Musk has gained more wealth over the past 12 months than Bill Gates’ entire net worth of $132 billion.
Shares of Tesla on Thursday surged 5.9 per cent to $800.43 in late morning trading, lifting the company’s market capitalisation above $750 billion.
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Exciting moment as Mikano Motors presents Changan Eado Plus to reigning Miss Nigeria

Exciting moment as Mikano Motors presents Changan Eado Plus to reigning Miss Nigeria
Mikano Motors has presented a brand new car, Changan Eado Plus, to the newly crowned 45th Miss Nigeria, Doris Ogah, a lawyer and model.
The auto firm said the handover of the luxury sedan held in Lagos on Monday officially marked the beginning of the partnership between Mikano Motors and the Miss Nigeria pageant, exemplifying Nigerian women’s beauty, strength and resilience.
The Eado Plus, known for its stylish design and advanced features, according to Mikano, symbolises the values of innovation and excellence that is synonymous with the Changan brand, an ideal match for the current Miss Nigeria.
Executive Director of Mikano International, Joelle Haykal, said at the pre-handover press briefing, “This partnership represents our commitment to empowering women and supporting local talent within our communities, in line with Miss Nigeria’s theme for this year, ‘Cultural Heritage and Community Engagement’.
“This has always been a mainstay for the Mikano Group and is evident in much of our efforts to give back to the society.”
“We are very excited to present the Eado Plus to Ms Ogah, who embodies the spirit of Miss Nigeria.”
In his speech at the event, Executive Director of Mikano International Limited, Omar Karameh, emphasized the company’s broader commitment to Nigeria’s cultural and creative sectors.
He said, “The Miss Nigeria pageant is more than a beauty contest—it is a launchpad for future female leaders. Mikano is proud to support platforms that celebrate intelligence, leadership, and resilience.
“We trust that these values will continue to inspire generations of Nigerian women.”
The reigning queen expressed excitement at winning the pageant and receiving the Eado Plus.
“Winning the Miss Nigeria title has been a life-changing experience, and I am deeply grateful to Mikano Motors for this incredible gift.
“This car is not just a means of transportation; it represents the journey ahead—one filled with purpose, advocacy, and impact.
“I am excited for all that is to come and look forward to using my reign to inspire and empower young girls across Nigeria. Thank you, Mikano, for this generous support.”
Legendary Nollywood queen and Chairman of the Miss Nigeria board, Mrs Rita Dominic Anosike, said, “Reviving the Miss Nigeria franchise has never just been about a pageant—it’s about building a platform that celebrates the brilliance, ambition, and cultural pride of the Nigerian woman.
“With partners like Mikano, we are not just crowning queens—we are empowering a generation and ensuring that Miss Nigeria is a title and a platform for real impact. We are excited about this new chapter and the journey ahead.”
Vice General Manager of Changan, Middle East and Africa, Tom Yin, celebrated the growing partnership with Mikano and reaffirmed the company’s commitment to the Nigerian market.
He said, “Changan has been dedicated to enriching human life and leading automotive civilization for over 163 years. Our collaboration with Mikano International allows us to connect deeply with Nigeria’s dynamic culture and invest in sustainable growth.
“Our support for Miss Nigeria aligns perfectly with our global ‘Her Power’ initiative, which aims to inspire women to pursue their dreams and lead with confidence across all fields.”
Chairman of Mikano International, Mofid Karameh, in his address reaffirmed the company’s unwavering support Nigeria’s cultural, creative, and entertainment sectors, highlighting the Miss Nigeria pageant as a powerful platform for celebrating and empowering the next generation of female leaders.
He emphasised that the Miss Nigeria brand extends far beyond pageantry, serving as a launchpad for women who embody strength, intelligence, leadership, and cultural heritage.
“The legacy of Miss Nigeria is not just about beauty; it’s about strength, intelligence, and leadership,” Karameh said.
“We believe that this platform can mould the future female leaders of our country. By celebrating these remarkable women, we pave the way for a brighter and more empowered Nigeria.”
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Parents hail Toyota (Nigeria) Limited at 18th Toyota Dream Car Art Contest Award ceremony

Parents hail Toyota (Nigeria) Limited at 18th Toyota Dream Car Art Contest Award ceremony
Parents whose children recently won prizes at the 18th Toyota Dream Car Art Contest award ceremony have expressed profound gratitude to Toyota (Nigeria) Limited for giving the young stars the platform to show their talents and excel.
The presentation of awards by the TNL to the latest winners of the Toyota Dream Car Art Contest will remain memorable in the minds of the beneficiaries, parents and teachers of the pupils.
The event held specifically on March 8, 2025 at the corporate headquarters of the company in Lekki, Lagos, was indeed a day of celebration and glitz for all.
It was exciting not only for all the winners but their parents, siblings, well-wishers and staff of Toyota (Nigeria) Limited that graced the occasion.
Mr Shoniran, who spoke on behalf of all parents present, he expressed a deep appreciation for what Toyota had done for the children.
He said, “The exposure would further help to boost the confidence of the budding artists.”
He added that TNL had given all winners a strong pedestal to showcase their talent while thanking the company for this life-time opportunity and the valuable gifts presented to them.
Three (3) children emerged national winners from each category, making it nine (9) winners altogether at the national level and were properly celebrated and given awards.
The award was keenly contested in three categories vis: 7 years and under; 8 – 11 years and 12 -15 years.
A total of 680 (Six hundred and eighty) children were recorded to have taken part in the contest at the competition centres in Lagos, Abuja and Port Harcourt.
Entries (drawings) of winners from over 92 countries (including Nigeria) around the world are sent to Japan to compete at the global level.
Managing Director of Toyota (Nigeria) Limited, Mr Kunle Ade-Ojo, in his welcome address, congratulated all winners, saying, “The annual Toyota Dream Car Art Contest is a keenly contested competition by children from all over Nigeria and it is one of the Corporate Social responsibility activities of the company that has won the heart of many children in the nation.
“TNL is happy to organise this annual event as it presents the opportunity for budding artists to express their ideas in living colours.
“It is a medium to help them build their confidence in the expression of arts and to create lasting memories with and for them; sweet memories and a lasting relationship with the brand.”
He commended all winners for earning a place in the keenly contested and coveted competition.
Dai Zi Wen came first in the Age 7 and under category; Ethan Oluwafolahanmi Enilolobo emerged second, while Oritsetsemaye Eguando came third.
Nina Adanna Nwamuo came first in the 8 – 11 years category; Precious Chidera Aroh came second while Gabrielle Silver Oludayo came third.
In the 12 –15 years category, Shalom Jesujuwon Shoniran came first; Samuel Chima Okonkwo came second, while Jasmine Xiaoli Deng came third.
All winners made a detailed presentation of their artwork which typified futuristic and ingenious ideas, geared towards making the world a better place to live in.
All the winners were presented with a high-quality personal computer laptop and loads of corporate gifts. Responding on behalf of all the winners, Nina Nwamuo thanked Toyota (Nigeria) Limited for providing all contestants such a veritable platform to express their God-given talent.
She also thanked their Art teachers and parents for their guidance, support and encouragement.
She expressed gratitude for the laptop gifts and other corporate goodies that the TNL gave them.
Nwamuo prayed that TNL would “grow from strength to strength”.
Some Art teachers that have consistently over the years helped to shape the style, quality of artwork and guided the children in actualizing their ideas on paper were also recognized. One of such Art teachers is Mr. Oserogho Ojeagbega who also tutored Oluwademilade David Odumuboni, the gifted boy artist that won on the global stage at the 16th Toyota Dream Car Art Contest.
Some other art teachers that were similarly recognized were Mrs. Oluwafunmilayo Arabambi Daramola, Mr. Oluwatobi Famuyiwa, Mrs. Edith Odedokun and Mr. Samuel Allen-Taylor. Each of the five teachers went home with a commendation plaque and N250,000 (Two Hundred and Fifty Thousand naira) for their commitment to the contest over the years.
The event also featured a special celebration of the birthday of one of the winners, Samuel Okonkwo, whose birthday it was on the Awards ceremony day, 8th March, 2025.
TNL presented him with a birthday cake which he cut with glee and the support of his happy parents, joined by Mr. Kunle Ade-Ojo, MD, TNL, while the birthday song was sung for him by all attendees.
He said, “Toyota made my birthday extra special for me and I will never forget today as long as I live. Thank you, Toyota Nigeria. You are simply the best.”
The ceremony ended with an elaborate entertainment for all that attended, and everyone went home with a corporate gift.
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Toyota corporation taps on Winpart by CFAO to distribute CWorks batteries in Nigeria

Toyota corporation taps on Winpart by CFAO to distribute CWorks batteries in Nigeria
Leading distributor and importer of high-quality automotive spare parts and lubricants in Nigeria, Winpart by CFAO, has commenced the distribution of Cworks batteries in Nigeria.
Cworks is a premium automotive battery brand from Toyota Tsusho Corporation.
The battery introduction, the company says, marks a new era of reliability, durability, and high performance for Nigerian motorists and businesses.
The firm in a statement obtained by Newstrends says as an official distributor and importer of top-quality automotive spare parts, Winpart by CFAO has continued to bring globally trusted brands to Nigeria, ensuring that vehicle owners and businesses have access to world-class solutions.
Developed under the renowned Toyota Tsusho Corporation, Cworks batteries are engineered to deliver superior power, a longer lifespan, and consistent performance in all driving conditions.
Winpart by CFAO says CWorks is a product of “renowned Toyota Tsusho excellence, designed to meet global automotive standards; long-lasting performance, built for durability and resilience on Nigerian roads and weather conditions.”
The company disclosing that the batteries are now available through Winpart by CFAO outlets added that the product would facilitate “reliable power supply, ensuring smooth engine starts and sustained power for all vehicle types”.
General Manager of Winpart by CFAO, Mohamed TALEB, said, “We are excited to introduce Cworks batteries to Nigerian motorists. As a brand from Toyota Tsusho Corporation, Cworks battery reflects the same commitment to quality and performance that Toyota is known for worldwide.
“With Winpart by CFAO, Nigerians can now enjoy a battery that delivers reliability, longevity, and value.”
According to the firm, through Winpart by CFAO, Cworks batteries will be available across Nigeria via authorized dealers and service centres, ensuring easy access to high-quality battery solutions.
The company added that more information on CWORKS Batteries, can be obtained from its website- www.winpart.com.ng.
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