LATEST TECH NEWS: Elon Musk displaces Zuckerberg as world’s third richest person. 2 other things and a trivia you need to know today, September 3, 2020
These latest stories from the tech space will keep you updated with trends today.
1. Elon Musk displaces Zuckerberg as world’s third richest person
As Elon Musk’s net worth jumps to $115 billion, pushing him past Facebook CEO Mark Zuckerberg on the list of the world’s richest people; the Tesla CEO now ranks as the third richest in the world. Financial experts who converted the sum to Naira estimated it to about N44,434,850,000,000. Today, the two other people leading the billionaires club are Jeff Bezos and Bill Gates who have $202 billion (N78,050,780,000,000) and $125 (N48,298,750,000,000) billion, according to the latest Bloomberg Billionaires Index.
Recall Tesla’s shares had been seeing positive rise since last year’s October when it first had a very big bump. In early 2020, it further rose to $935 per share, a price that rose even higher at $2,213 on Friday, August 28. Tesla, in a communique, published on Tuesday, September 1, announced that it was working on calling for fundraising so as to get a total amount of $5 billion via stock sales. The Elon Musk’s displacement of Mark Zuckerberg comes on the heels of a similar incident (some weeks ago) when Tesla co-founder overtook Bernard Arnault, sweeping off the fourth-richest person position after the shares of Tesla Inc. bumped up by 11% on Monday, August 17.
Tech Trivia:
Who is the richest tech genius?
A. Mark Zuckerberg
B. Jeff Bezos
C. Bill Gates
D. Michael Dell
Answer: See end of post.
2. African startups wins Circles’ $75,000 investment
After concluding a pitch contest, Startup Circles has announced 13 of the top emerging startups from around Africa and four of the selected winners being offered deals totalling $75,000. According to the organising firm, four selected winners were offered investment deals worth $75,000. Reports, covering the pitch, noted that the selected finalists had pitched their business concept and solution to a panel of judges comprising of experienced entrepreneurs, investors, and mentors.
Following the contest, the top 13 selected startups go on to become graduates of the Startup Circles’ Startup Launch and Investor Readiness programmes. Speaking on the contest, Chief Executive Officer, Inonge Kampamba, overseeing Mangwee, one of the selected startups noted that courtesy of the contest and its leverage, her team plans to roll out their solution to 50 higher learning institutions in Zambia and Tanzania and 15 in Namibia.
3. Kenya-based music startup Mdundo looks to list entity on Danish exchange
After raising $6.4m in pre-sale, Kenya-based music service Mdundo has gone ahead with plans to list its shares on the Nasdaq First North Growth Market Denmark. According to analysts familiar with the company’s milestone, the new feat has been linked to the company’s bid to solidify its leading position in the pan-African music market. Reviews on the company revealed that the 7 year old Mdundo provides access to all the continent’s favourite music to over five million monthly active users in 15 countries in Sub-Saharan Africa.
More so, the music company boost of over 20 million monthly downloads and streams via its website and app. However, the company’s main markets are Kenya, Tanzania, Uganda, Nigeria and Ghana, with an increasing focus on Zambia, Zimbabwe, Mozambique, Angola, Rwanda, Cameroon, Congo, Malawi, South Africa and Namibia. Recently, as the company records bigger milestones, it is now on the race to list its shares following the initiation of an IPO in Denmark, where it is headquartered.
Tech Trivia Answer: Jeff Bezos ($113 billion)
In 1994, Jeff Bezos launched Amazon.com Inc. (AMZN) after leaving a well-paying job at a Wall Street hedge fund. By starting Amazon as a simple online bookseller, Bezos was hoping to cash in on the rapid growth of Internet businesses in the 90s. Yet, through the years, both he and Amazon have proved to be transformative. Today, he leads the pack with the Microsoft genius Bill Gates ($98 billion) coming next.