Browsing: South African

Elon Musk fortune stunning drop
  • 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 …

Rwanda is set to construct its first powdered milk factory in an attempt to boost profit for its livestock sub-sector.

This came after a joint venture firm owned by Rwandan investors and South African in collaboration with dairy farmers in Gicumbi District agreed to invest $38 million towards the development.

The powdered milk factory will be situated in Byumba Sector of Gicumbi District in Northern Province of Rwanda. Construction of the plant is expected to start by the end of 2020 and it will take a year for the factory to be completed so it will be completed by the end of 2021.

Also Read: Rwanda I&M Bank raises the limit on unsecured loans

The planned factory is set to be the largest milk-processing factory in the country and will offer major relief to the dairy farmers, it is the first of its kind in Rwanda.

The installed capacity of …