Browsing: shares

Elon Musk fortune stunning drop

Elon Musk makes it to the Guinness World Record after drop in fortune

Tech & Business
  • Elon Musk, Tesla, and SpaceX command a cult following from legions of fans worldwide.
  • Musk’s fortune tumbled by a staggering 60% in 2022 according to reports by Forbes and Guinness.
  • Forbes magazine broke the news that Musk, the Tesla boss was no long the wealthiest person on the planet. He lost this position to Bernard Arnault of LVHM.

The billionaire’s interest in electric car maker lost more than half of its value in 2022 as shares in Tesla lost over 60% according to a report by Forbes which was quickly adopted by Guinness. Amazingly, despite the substantial loss of value of Musk’s Tesla shares he is still the second wealthiest person on the planet.

This is likely attributable to the high valuation that the market still attaches to the electric car manufacturer’s shares. Shares of the EV company began to tumble when investor’s lost confidence in the billionaire’s ability to …

Zimbabwe Stock Exchange Outlook in the face of dollarization.

Zimbabwe Stock Exchange outlook in the face of dollarization

Investing
  • Zimbabwe Stock Exchange has been one of Africa's best performing stock markets during the years 2019 to 2021
  • Zimbabwe's economy officially dollarized for the second time since 2009 when it first abandoned the use of the Zimbabwe dollar.
  • The Zimbabwe Stock Exchange is home to some high quality companies that generate consistent quality returns.
  • When dollarization first occurred in 2009 companies in Zimbabwe were left poorly capitalized and in need of fresh capital in hard currency.
  • The need for fresh capital resulted in a flurry of rights issues from companies listed on the Zimbabwe Stock Exchange which for the most part were poorly subscribed leading to the dilution of existing shareholders who could not pursue their rights when dollarization initially occurred.
  • This second phase of dollarization will be like the initial phase for investors who are not prepared for it but will also be a significant opportunity for those with
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