Bussiness
Elon Musk is no longer part of the $200 billion club as Tesla’s stock continues to slide – but he’s still comfortably the richest person in the world
- Elon Musk’s wealth fell 5.4% to $193 billion on Tuesday as Tesla shares dropped 7%.
- Uncertainty over Musk’s purchase of Twitter has driven a sell-off in shares of Tesla, which have fallen 41% this year.
- Musk is no longer worth $200 billion, but he’s still $65 billion richer than Jeff Bezos.
Elon Musk is out of the $200 billion club after Tesla shares slid 7% on Tuesday.
Musk’s wealth dropped 5.4% to $193 billion as the electric carmaker’s share price fell, according to Bloomberg – which means he lost $11.1 billion in a single day.
Tesla is down 41% year-to-date, as the tech sector has sold off more broadly. It’s fallen just under 38% since Musk struck a deal to buy Twitter for $44 billion last month.
Musk has stirred controversy since the prospective takeover was announced by threatening to cut his offer based on the number of bots on the social media platform. The ongoing uncertainty appears to have dented Tesla’s value.
“This circus show has been a major overhang on Tesla’s stock,” Wedbush’s Dan Ives said in a note on Monday. “Musk is facing a fork-in-the-road situation in which he has to decide his next step in this soap opera, as Tesla investor patience is wearing very thin.”
Musk has already dropped out of the $200 billion club twice this year once in February and then again in March. Stock market rallies pushed him back over that threshold on both occasions.
Musk’s net worth is now the lowest it’s been since last August, according to the Bloomberg Billionaires Index. He’s lost just under $78 billion this year, but is still comfortably the world’s richest person.
Musk is $65 billion richer than Jeff Bezos, who has lost $65 billion this year, with Amazon down 38% year-to-date. Bill Gates, Warren Buffett, LVMH chairman Bernard Arnault and Indian industrialist Gautam Adani are also all worth over $100 billion.
Source: www.pulse.com.gh
Bussiness
Ghana to host mining and minerals convention 2025 to shape future of gold industry
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
Bussiness
Finance Minister tranfers funds to DACF, NHIS and GETFUND
The Minister for Finance Hon. Cassiel Ato Forson has disclosed that a sum of nine hundred and Eighty-Seven Million, Nine Hundred and Sixty-Five thousand and Seventy-Three Ghana Cedis (GHS987,965,073.00) from the Consolidated Fund into the District Assembly Common Fund Account, being the first quarter amount due to the DACF.
Furthermore, the Finance Minister informed the House that a total amount of Two Billion, Thirty- Three Million, Four Hundred and Sixty-Nine Thousand, Six Hundred and Seven Ghana Cedis (GHS2,033,469,607) has been disbursed to the National Health Insurance Fund.
While the Ghana Education Trust Fund has also received a total of Two Billion, Seven and Ten Million, Two Hundred and Twenty-Seven Ghana Cedis (GHS2,710,227,947.00) for the months January, February, March and April,2025.
The Finance Minister disclosed this in his statement to Parliament on the payments to statutory funds on the floor of the House.
In addition, he cautioned that the Administrator of the District Assembly Common Fund is required to ensure that 80% of this amount is transferred directly to the Assemblies without fail and expenditure returns submitted to the Ministry of Finance before subsequent releases will be made.
He added that Members are encouraged to monitor the utilization of these amounts sent to their respective Assemblies in line with the approved guidelines by Cabinet.
In his closing remark, Ato Forson said he’s going to take the concerns of the House seriously.
For his part, the Majority Leader, Mahama Ayariga made known the President’s prioritization of women in the country stating that President Mahama is “Pro-women”.
This is due to the fact that women are going to be the core beneficiaries from the expenditures going to be made by the MMDA’s, he added.
The Minority Leader Alexander Afenyo-Markin questioned the Finance Minister why road contractors have not been paid for more than five months. He said the Minister must not be applauded for since the allocation of these funds were long overdue.
