Elon Musk Makes Abdulsamad Rabiu’s Total Wealth In One Day, As Tesla Boss Gains N3.51 trillion

August 15, 2022
1 min read

In one day, the world’s richest man, Elon Musk, made more than the entire wealth of Nigerian billionaire, Abdulsamad Rabiu, as his networth grew 3.09% during trading hours on Monday.

Prime Business Africa gathered Musk made a whopping $8.2 trillion (which is N3.51 trillion based on N428.75 forex rate) as demand for stocks of his company, Tesla, skyrocket on the New York Stock Exchange today.

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Tesla stock had appreciated by 4.06% on high demands, driving the share price up to $936.62, as at the time of filing this report, as investors were willing to pay more than the $900.9 it sold for last week Friday.

With Tesla’s share rising through the roof, Musk’s networth was positively impacted, resulting to his wealth rising to $273.9 billion, after gaining $8.2 billion from the stock appreciation.

Musk gain from one trading day is $2.6 billion more than Rabiu’s total networth, according to data obtained from Forbes Billionaire Index. The Nigerian billionaire is worth $5.6 billion.

Rabiu, who owns BUA Cement and BUA Foods, had also gained $15 million (N6.43 billion) on Monday, after his investment in BUA Cement grew by 0.47%, after the firm’s share rose to N53.2kobo from N52.95kobo per share. But that of BUA Foods traded flat at N59.95kobo per share.

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