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World’s richest man praises recession as ‘good thing’

Elon Musk, the world’s richest man, has tweeted in praise of the recession facing the US in response to a follower’s question, suggesting it’s actually a “good thing” because “it has been raining money on fools for too long.” He blamed “Covid-19 stay-at-home stuff” for “tricking” people into thinking they …

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Richest Ukrainian vows to rebuild the country

Billionaire Rinat Akhmetov, the richest man in Ukraine, has pledged to restore the damage brought to the country amid Russia’s military operation, in an interview with Reuters published on Saturday. “We will rebuild the entire Ukraine… I trust that we all will rebuild a free, European, democratic, and successful Ukraine,” …

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World’s richest man sued over Twitter share declaration

Twitter investor, Marc Rasella, has accused the SpaceX founder and the world’s richest man, Elon Musk of making him lose money through “misleading statements” about his purchase of a large stake in Twitter on Tuesday. The plaintiff, who seeks class action status for his case on behalf of investors who …

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Forbes reveals who topped list of world’s richest

The CEO of Tesla and SpaceX, Elon Musk, has become the world’s richest person, according to Forbes magazine’s latest billionaires list, published on Tuesday. Musk is atop the World’s Billionaires list for the first time ever. As of March 11, the businessman was worth an estimated $219 billion, after his …

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Ukraine sanctions lead to $80bn loss for Russia’s richest

Russia’s richest people have lost about a third of their wealth over the past week, due to Western sanctions over the war in Ukraine, according to the latest Bloomberg Billionaires Index. The impact of US and EU sanctions against Russian oligarchs and the collapse of the ruble has seen their …

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IMF urges world’s richest countries to save poorest

“Low-income countries will find it increasingly difficult to service their debts,” as the G20’s debt service suspension initiative is expiring at the end of the year and interest rates are poised to rise, IMF Managing Director Kristalina Georgieva and the head of the strategy, policy, and review department, Ceyla Pazarbasioglu, …

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As Russia recovers from economic effects of Covid-19, country’s richest have seen $40 billion growth in fortunes in 2021 – reports

That’s according to the latest data from Bloomberg’s Billionaires Index, which shows that 24 of the world’s 500 wealthiest people are Russians. Behind Severstal owner Mordashov, gas entrepreneur Leonid Mikhelson and metal producer Vladimir Lisin have also seen their coffers increase by more than $5 billion this year. Russia’s richest …

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