Business

10 Most Richest People in the world.

Published

6 months ago

March 8, 2024

Spread the love

1. Elon Musk – $201 billion (as of October 2021) – Source of Wealth: Tesla, SpaceX, and other ventures
Elon Musk is a South African-born American entrepreneur and businessman who is best known as the founder, CEO, and lead designer of SpaceX and Tesla. In addition to these ventures, Musk has also founded companies such as PayPal and Neuralink, which have been instrumental in advancing technology in various fields.

2. Jeff Bezos – $191 billion (as of October 2021) – Source of Wealth: Amazon
Jeff Bezos is an American entrepreneur and businessman who is the founder and CEO of Amazon, the world’s largest online retailer. Bezos has also invested in other ventures, including Blue Origin, a space exploration company.

3. Bernard Arnault – $155 billion (as of October 2021) – Source of Wealth: LVMH
Bernard Arnault is a French businessman and the CEO of LVMH, a multinational luxury goods conglomerate. LVMH owns some of the world’s most iconic fashion brands, including Louis Vuitton, Dior, and Fendi.

4. Bill Gates – $135 billion (as of October 2021) – Source of Wealth: Microsoft
Bill Gates is an American entrepreneur, software developer, and philanthropist who co-founded Microsoft, one of the world’s largest software companies. Gates has also become a prominent philanthropist, donating billions of dollars through the Bill and Melinda Gates Foundation to support education, healthcare, and poverty alleviation.

5. Mark Zuckerberg – $124 billion (as of October 2021) – Source of Wealth: Facebook
Mark Zuckerberg is an American entrepreneur and the co-founder and CEO of Facebook, the world’s largest social media platform. Zuckerberg has also invested in other ventures, including the Chan Zuckerberg Initiative, a philanthropic organization that focuses on education and healthcare.

6. Larry Ellison – $100 billion (as of October 2021) – Source of Wealth: Oracle
Larry Ellison is an American entrepreneur and businessman who co-founded Oracle Corporation, a multinational computer technology corporation that specializes in developing and marketing software and hardware systems.

7. Larry Page – $97 billion (as of October 2021) – Source of Wealth: Google
Larry Page is an American entrepreneur and computer scientist who co-founded Google, the world’s largest search engine. Page has also invested in other ventures, including flying car company Kitty Hawk and autonomous vehicle company Waymo.

8. Sergey Brin – $95 billion (as of October 2021) – Source of Wealth: Google
Sergey Brin is a Russian-American entrepreneur and computer scientist who co-founded Google with Larry Page. In addition to Google, Brin has invested in other ventures, including biotech company 23andMe.

9. Steve Ballmer – $91.5 billion (as of October 2021) – Source of Wealth: Microsoft
Steve Ballmer is an American businessman and the former CEO of Microsoft. Ballmer is also the owner of the Los Angeles Clippers, a professional basketball team in the NBA.

10. Warren Buffett – $90 billion (as of October 2021) – Source of Wealth: Berkshire Hathaway
Warren Buffett is an American investor, business magnate, and philanthropist who is the CEO of Berkshire Hathaway, a multinational conglomerate holding company. Buffett is widely regarded as one of the most successful investors of all time.

Business

DANGOTE REFINERY WILL NOT SELL FUEL BELOW MARKET PRICE —TINUBU PRESIDENCY

Published

1 day ago

September 6, 2024

Ekwutos Blog

Spread the love

The Nigerian Presidency has said that Dangote Refinery will not sell its product including Premium Motor Spirit (PMS) below the official market price.

On Tuesday, Aliko Dangote, the Chairman of the Dangote Group, formally declared the commencement of petroleum production at his highly anticipated refinery. This significant milestone marks a major breakthrough in Nigeria’s energy landscape.

During the announcement, Mr. Dangote revealed that the pricing strategy for the refined petroleum products would be determined through collaborative efforts between the Federal Executive Council (FEC) and the Nigerian National Petroleum Company (NNPC) Limited.

Business

FG to allow Dangote Refinery fix petrol price – Report

Published

2 days ago

September 5, 2024

Ekwutos Blog

Spread the love

The Federal Government is reportedly set to allow Aliko Dangote’s refinery to fix petrol prices.

This is according to a report from Bloomberg.

Recall that the Dangote Refinery on Tuesday began the production of long-awaited petrol, a development that is a major milestone in Nigeria’s energy sector.

Since then, many Nigerians have been keen to find out the price at which the businessman will sell his petrol.

However, Aliko Dangote has stated that it is not his role to set petrol prices; he will leave that responsibility to the Federal Government.

His primary focus is to ensure that petrol is available.

But Bloomberg reports that the Dangote Refinery, located in Ibeju Lekki, Lagos, with the approval of the Nigerian Government, will begin setting prices for petroleum marketers starting next month (October).

This marks a significant departure from the current practice where the state-owned NNPC Ltd. has been the sole price setter.

Previously, NNPC sold gasoline below market value to mitigate price increases, but it recently raised the price to align more closely with market rates.

Government officials have indicated that Dangote’s refinery will determine its own pricing strategy, and oversight will be limited to ensuring product quality and preventing exploitation.

“Dangote Refinery will certainly not sell their products below market value as a business that was set up to make profit,” a government spokesman Temitope Ajayi told Bloomberg.

“I don’t see how NNPC or the federal government will control price for a private business,” he said.

“Going forward, petrol marketers will be allowed to buy products directly from the Dangote Refinery.” another source said.

The shift comes amid widespread gasoline shortages and substantial debts incurred by NNPC, which has disrupted supply.

The Dangote Refinery is projected to produce around 330,000 barrels of gasoline daily, surpassing 1% of global demand, potentially stabilizing the local market and reducing Nigeria’s dependency on imports.

Business

Federal Government Will Determine Price Of Our Petrol- Dangote

Published

4 days ago

September 4, 2024

Ekwutos Blog

Aliko Dangote

Spread the love

Federal Government Will Determine Price Of Our Petrol.

“On PMS price, it is an arrangement that is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu.

As soon as it is finalized, which is what he is pushing once he finishes with FEC meeting, it can be today or Tomorrow we are ready to roll out in the market”

ALIKO DANGOTE