News Analysis India

Tag: Bloomberg Billionaires

  • Jack Ma Lost $11 Billion In Last Two Months Amid Increased Scrutiny By China: Report

    China’s richest man and the co-founder of Alibaba Group Jack Ma has lost $11 billion in the last two months since Beijing began scrutinising his empire and other tech giants in the country. According to Bloomberg Billionaires Index, Jack Ma now owns a fortune of $50.9 billion, which has decreased from $61.7 billion earlier this year bringing him down to the 25th position on the list of the world’s wealthiest people.

    Alibaba, like all other tech behemoths in the world, recorded a surge in stock prices in 2020 due to the sudden escalation of demand for online businesses amid the COVID-19 pandemic. However, government scrutiny on Alibaba Group and other tech companies, including Tencent Holdings Ltd. and food delivery giant Meituan, has massively impacted the confidence of the investors, bringing down the market value of these firms and their subsidiaries (if any).

  • As Elon Musk Zooms Past Bill Gates In Rich People List, Indians Google Who Is The Richest?

    Curious Indians have been googling ‘who is the richest person in the world’ since Tesla CEO Elon Musk surpassed Microsoft co-found Bill Gates earlier this week and became the world’s second-richest person with net worth soaring from $7.2 billion to $127.9 billion. As per the Bloomberg Billionaires Index, SpaceX CEO added 100.3 billion in his net worth this year after a sudden surge in Tesla’s share price. In January, among 500 richest people in the world, Musk was at number 35. 

    Since the reports emerged of Musk becoming the second-richest person in the world just after Amazon CEO Jeff Bezos and before Gates, Indians have been googling about the most wealthy person in the world with searches including ‘Elon Musk richest man’ and ‘world richest man’. Some internet users also wanted to know the richest person in Asia or Nepal or top ten richest persons across the globe. 

    The Tesla CEO himself responded to the news of overtaking Gates’ wealth and expressed astonishment on Twitter. The year 2020 has been pleasantly good for Musk with his fortunes being directly linked to Tesla of which according to Bloomberg, the last own 20% of the company’s stock. Meanwhile, this year, amid the COVID-19 pandemic, Tesla’s stock spiked almost 524% contributing to Musk adding over $100 billion to his wealth.