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

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.

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.

Fakoyejo Olalekan

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