Thought For A Day
Archives of “January 2021” month
rssElon Musk is now the world’s richest person
Elon Musk passes Jeff Bezos
Shares of Tesla are up another 4.2% today and with that, Tesla CEO Elon Musk has passed Jeff Bezos to become the world’s richest person, according to Bloomberg calculations. His net worth is $188 billion dollars, about $1.5 billion more than Bezos.
In the past 12 months, Musk’s net worth has risen by more than $150 billion on a 750% rise in Tesla’s share price. He owns 20% of the company but also holds options that are now worth $42 billion.
The Tesla chart is breathtaking
Tesla is now the world’s sixth-largest company.
It’s not just Musk, the 500 richest people in the world added 31% to their wealth last year, according to Bloomberg.
Georgia vote: What does it mean markets
Strategy from Citi
CitiFX Strategy offers a comprehensive assessment of implications from the Georgia Senate Democrat victories.
“Bottom line: The outcome of the Georgia run-offs is very significant in two ways: i) by increasing the scope for policy changes, including even more fiscal stimulus and ii) strengthening the MMT (money-financed stimulus) theme in the US and globally,” Citi notes.
‘In markets, the outcome supports a significantly lower USD, higher and steeper US rates, higher breakevens, lower real yields, and higher prices of commodities, precious metals and cryptocurrency,” Citi adds.
US weekly initial jobless claims 787K vs 800K expected
Weekly jobless benefit claims data
- Prior was 787K
- Continuing claims vs 5200K expected
- Prior continuing claims 5219K
- PUA claims K vs 308K prior
- Total claims K vs 19.564K prior
- Full report
Who is right?
S&P500 price to sales keeps climbing
China’s Global Times refers to US insurrection as ‘karma’
The Global Times is the gutter-press tabloid version of state media in China.
Sort of Rupert Murdoch with Chinese characteristics I guess.
They have not pulled punches today:
- “chaos in the US” as revenge for what US politicians said on similar scenarios when rioters stormed HK LegCo in 2019.
- After inciting troubles around the world, US finally tasted “karma” of double standards.
On the bright side at least the GT is not kicking Australia today.
Senate rejects objection to Pennsylvania election results
As you would expect
Next on the agenda is Wisconsin. A summary of the objections so far:
- Arizona (voted down)
- Georgia (no Senator)
- Michigan (no Senator)
- Nevada (no Senator)
- Pennsylvania (voted down)
Japan coronavirus advisory panel says state-of-emergency declaration needed
For Tokyo and 3 nearby prefectures
From January 8 to February 7
Top White House officials consider resigning, led by O’Brien
Headline via Bloomberg
Bloomberg carrying it is likely to prompt a little market nervousness
Robert O’Brien is National Security Advisor. Media reports have him considering resigning, along with deputy national security adviser Matt Pottinger and deputy chief of staff Chris Liddell.
Also – US media is reporting Trump banned Pence chief of staff Marc Short from the WH today,