Elon Musk, Jeff Bezos have N7.4 Trillion Wiped Off Their Assets Amid Russia-Ukraine War

Elon Musk, Jeff Bezos have N7.4 Trillion Wiped Off Their Assets Amid Russia-Ukraine War

  • Two of the world's richest men, Elon Musk and Jeff Bezos have had N7.4 trillion drained out of their worth due to the prevailing situation in Ukraine
  • Elon Musk had $13.3 billion shaved off his assets while, Amazon founder Jeff Bezos lost about $4.41 billion
  • The global stock market had a knee-jack reaction to the escalating tension in Ukraine as investors became very cautious

Two of the world’s richest men, Elon Musk and Jeff Bezos both lost about N7.4 trillion in a single day amid the raging Russia-Ukraine crisis.

Big loss for big men

Tesla CEO, Elon Musk had his net worth drop to $199 billion after he lost $13.3 billion that his total year-to-date to $71.7 billion, according to the Bloomberg index.

Elon Musk and Jeff Bezos
Elon Musk and Jeff Bezos Credit: Alberto Rodriguez
Source: Getty Images

PAY ATTENTION: Install our latest app for Android, read best news on Nigeria’s #1 news app

Read also

Bitcoin trades below N124 million amid Russia invasion of Ukraine

Jeff Bezos, the world’s second-richest man and owner of Amazon recorded a $5.41 billion drop from his net worth, bringing his wealth to $169 billion and his year-to-date loss to $22.0 billion.

The drop in both their assets came during the announcement that Russian troops have started bombing some parts of Ukraine, which caused panic in the markets.

The crypto market dipped greatly in the early on Thursday, February 24, 2022.

Oil price rebounded to about $100 per barrel at the heels of the tension between Russia and Ukraine.

Oil roars in the international market

Brent sold at $95 per barrel at some point during intra-day trading on Thursday, 24, 2022.

Tesla stock traded at $764.04 per share, representing a 7% decrease from the last trading session. However, the stock has rallied as of press time with a 2.91% gain to trade at $787.27 and a further decline in one year.

Read also

Dangote sugar share price slides by over N11 billion in market value

There are projections that stocks may dip further as the tension escalates between Russia and Ukraine.

Dangote makes more money than Elon Musk, Bill Gates in 24 hours

Legit.ng has reported that Africa's richest man, Aliko Dangote’s net worth in the last 24 hours has increased by N28.86 billion ($69.4 million).

According to Bloomberg, Dangote is now worth $20 billion, making him the 83rd wealthiest man alive as he rebounds from loses recorded last week.

Since the start of 2022, Dangote's wealth has increased by $934 million(N388.5bn) thanks to the impressive performance of his cement company.

Source: Legit.ng

Online view pixel