Managing Director William Ruto announced that the port recorded a total of 2,005,076 TEUs in 2024, a significant increase from the previous year.

Additionally, the port handled over 41 million tons of cargo, compared to 35.98 million tons in 2023.

Imports rose by 7.2%, reaching 716,000 TEUs, while exports surged by 6.6% to 732,000 TEUs. Transit cargo volumes also grew substantially, climbing 17.4% to 13.4 million tons in 2024.

Uganda remained the leading transit destination, accounting for 65.7% of transit cargo with 8.8 million tons handled.

Other regional destinations included South Sudan at 21.7%, the Democratic Republic of Congo (DRC) at 11.8%, Rwanda at 5.1%, and Tanzania at 3.1%.

Transshipment traffic also reached a notable 491,000 TEUs in 2024. In December alone, the port handled over 3.7 million tons of cargo.

“I would like to acknowledge the hard work, dedication, and commitment of our staff, the support of the board, and the enhanced operational efficiency and infrastructure upgrades that have greatly contributed to this impressive performance,” Ruto stated.

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The new Greenspan Mall branch will continue China Square’s tradition of offering a diverse selection of products, including electronics, fashion, household items, and more. Customers will enjoy competitive pricing and an extensive range of goods, ensuring a seamless shopping experience.

To celebrate the opening, China Square is offering a special promotion: 20% off on all items on January 13th and 14th, 2025. Shoppers will have the opportunity to access great deals and discounts during the first two days of the branch’s operation.

China Square’s branches, Locations & contact details

China Square Branches in Kenya

1. Unicity Mall, Thika Road, Nairobi
   • Address: Unicity Mall, Thika Road, Nairobi
   • Contact: +254 700 000 000
   • Features: Offers electronics, household items, clothing, and more.
2. The Waterfront Mall, Karen, Nairobi
   • Address: The Waterfront Mall, Karen, Nairobi
   • Contact: +254 701 000 000
   • Features: Wide range of products including tech gadgets, fashion, and home essentials.
3. Langata Hyper, Langata, Nairobi
   • Address: Langata Hyper, Langata, Nairobi
   • Contact: +254 702 000 000
   • Features: Variety of products catering to everyday needs.
4. Nyali Bazaar, Mombasa
   • Address: Nyali Bazaar, Mombasa
   • Contact: +254 703 000 000
   • Features: Extensive range of products, including fashion and technology.
5. Two Rivers Mall, Nairobi
   • Address: Two Rivers Mall, Nairobi
   • Contact: +254 704 000 000
   • Features: Offers a mix of electronics, clothing, and household items.
6. Greenspan Mall, Donholm, Nairobi
   • Address: Greenspan Mall, Donholm, Nairobi
   • Contact: +254 705 000 000
   • Features: Special promotion: 20% off on January 13th and 14th, 2025.
7. Mega City Mall, Kisumu
   • Address: Mega City Mall, Kisumu
   • Contact: +254 706 000 000
   • Features: Launched on November 23, 2024, with a wide variety of products.

China Square is renowned for its extensive product selection, competitive pricing, and commitment to customer satisfaction.

Each branch is designed to offer a seamless shopping experience, ensuring that customers find everything they need in one place.

Whether you are looking for the latest electronics, trendy fashion, or household essentials, China Square branches provide a comprehensive shopping experience tailored to meet diverse needs.

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The cuts reportedly will affect mainly employees on the business side of the storied US newspaper owned by Amazon founder Jeff Bezos.

The publication is among many news outlets struggling in the digital age as a growing number of online platforms compete for advertising revenues.

The layoffs, announced on Tuesday, come at a time of turmoil at the company after Mr Bezos broke with tradition and blocked an endorsement of Vice President Kamala Harris ahead of the US presidential election in November.

In 2023, the Washington Post reported losses of $77m (£45m) and falling readership on its website. That same year, the newspaper announced it was offering workers voluntary buyouts in a bid to cut headcount by 10%.

Mr Bezos wrote an opinion piece explaining that blocking the endorsement was necessary because of growing public perception that the “media is biased.”

Still, the newspaper said 250,000 of its readers canceled their subscriptions in protest.

Since then, several high-profile journalists, including investigative reporter Josh Dawsey, who confirmed on X that he was taking a job at The Wall Street Journal, have also left the newspaper. Managing editor Matea Gold is joining Post competitor The New York Times, the Times confirmed.

The apparent conflict between Bezos and the newspaper’s top talent took a turn for the worse on Saturday when Pulitzer Prize-winning cartoonist, Ann Telnaes, said she was resigning from the Washington Post.

That came after the newspaper refused to publish a satirical cartoon that showed Mr Bezos and other tycoons kneeling before a statue of President-elect Donald Trump.

Last month, Mr Bezos announced Amazon would donate $1m to Trump’s inauguration fund and make a $1m in-kind contribution. Mr Bezos also described Trump’s re-election victory as “an extraordinary political comeback” and dined with him at the president-elect’s Mar-a-Lago residence in Florida.

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Deputy President Kithure Kindiki made the announcement during a meeting on Tea Sub-Sector Reforms and Market Access for Tea to the Far East and China, held at his official residence in Karen on January 8, 2025.

“The government is supporting tea production through providing subsidised fertiliser, establishment of common user facilities for value addition and exploring new markets,” Kindiki said.

In 2022, Kenya earned Sh445 billion from tea exports.

The DP pointed out that favorable weather conditions, a stronger Kenyan shilling, and enhanced production strategies have all contributed to the sector’s success.

“These measures, favourable weather and a stronger currency- the shilling -has seen tea production increase from 445 million kilos in 2022 to 558 million kilos in 2023 and to 600 million kilos in 2024,” Kindiki added.

Kenya’s tea exports are spread across various international markets, with the main consumers being the UK, Pakistan, Egypt, Sudan, and emerging markets in Asia and Africa.

For several years, Pakistan has remained the largest consumer of Kenyan tea. In 2022, Pakistan accounted for nearly 30% of Kenya’s total tea exports.

Despite facing some challenges in terms of price fluctuations, Pakistan’s demand for Kenyan tea remained resilient.

The UK is another key market for Kenyan tea, particularly for the traditional black tea varieties. It also remains a significant source of Kenya’s value-added tea products, such as tea bags.

Egypt and Sudan, both North African countries, have long been important export markets for Kenyan tea. Egypt’s tea consumption has risen steadily, and the country’s preference for Kenyan tea remains strong.

Countries in the Middle East, including the UAE, have also emerged as significant markets for Kenyan tea. Kenya’s reputation for producing high-quality tea has contributed to increased demand in this region.

Kenya has also been focusing on diversifying its export base by tapping into emerging markets such as South Korea, China, and the United States. These regions are increasingly adopting Kenyan tea due to its premium quality and the rising popularity of specialty teas.

While the growth of Kenya’s tea export industry is impressive, several challenges continue to affect the sector’s long-term sustainability.

Changing weather patterns, including droughts and unpredictable rainfall, have had a negative impact on tea yields in recent years.

This has led to fluctuations in supply, which in turn affects export volumes. The cost of inputs such as fertilizers, labor, and energy has risen, impacting the profitability of tea farming.

Additionally, fluctuations in global fuel prices have affected the cost of transportation and logistics. Kenya’s tea sector faces increasing competition from other tea-producing countries like India, Sri Lanka, and China.

These countries have made significant strides in improving the quality and competitiveness of their tea exports. The volatility in global tea prices, influenced by factors such as supply chain disruptions and geopolitical tensions, can affect the earnings from Kenya’s tea exports.

The post Kenya’s Tea Export Earnings Surge To Sh211 Billion In 2024 appeared first on KahawaTungu.

This marks the third consecutive year Kenya has claimed the top spot on the continent.

The report highlights that East Africa emerged as the most funded region in Africa for the second year running, raising $725 million in total.

Kenya alone accounted for an impressive 88% of this amount, equivalent to 29% of all venture capital raised on the continent.

“Kenya is by far the market that attracted the most funding in Africa in 2024,” the report noted, citing significant investments in climate tech companies such as d.light, SunCulture, and Basigo as key drivers of this growth.

Kenya was followed in the region by Tanzania, with $53 million, ranked seventh overall, and Uganda, with $19 million, ranked 11th.

Other East African countries, including Rwanda, Sudan, and Ethiopia, recorded modest funding activity.

West Africa secured the second position in 2024, attracting $587 million, representing 27% of the continent’s total funding.

Nigeria, the region’s leader, garnered just over $400 million, matching the performance of Egypt and South Africa.

Other notable contributors from the region included Ghana ($68 million), Benin ($50 million), Côte d’Ivoire ($33 million), and Senegal ($22 million).

“Western Africa is the most balanced region, where the leading country represents the smallest share of the total, at 70%,” the report said.

Despite this balance, the region experienced only a minor drop in funding compared to 2023, declining by 3%.

North Africa, however, saw a significant decline, with funding falling by 35% to $478 million.

This was primarily driven by a sharp 37% reduction in funding in Egypt, which accounted for 84% of the region’s total.

Morocco, which raised $70 million, ranked fifth overall, but its performance was not enough to offset the decline.

Southern Africa also experienced a steep drop, with funding decreasing by 36% to $397 million. South Africa dominated the region, accounting for 99.4% of the total funding, but saw its funding fall by 34%. Other countries in the region recorded minimal activity.

Central Africa remained the least funded region, with only $5 million raised in 2024—a figure more than 10 times lower than in 2023.

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It will invest more than £300 million so it can build more highly-customised versions of its cars for its super-rich clientele.

The 120-year old British brand came under full control of German carmaker BMW in 2003 and officially opened the site in West Sussex the same year. Rolls Royce says this expansion secures its future in the UK.

Rolls-Royce sold 5,712 cars in 2024, the third highest total in its history.

While that number may seem tiny compared with the millions of cars delivered each year by mainstream manufacturers, Rolls-Royce operates in a highly rarefied market.

The brand said it “does not disclose prices” but it is understood its cheapest model, the Ghost saloon, sells from about £250,000 upwards. Its Cullinan sports utility vehicle and electric Spectre models are thought to start at around £340,000.

In comparison, the average UK house price was £297,000 last year, according to Halifax.

The price of bespoke models can vary widely. When it comes to the most elaborate creations, the final product can cost several times the base price of the car.

There are relatively few buyers who can afford to pay so much for a car. Among those who can are celebrities, who often do not mind flaunting their wealth.

Among them are US stars Kim Kardashian and Nicki Minaj, as well as British rapper Stormzy who was banned from driving after being caught using a mobile phone behind the wheel of his Wraith in London.

‘Holographic paint and one-off artworks’

For some customers, simply owning a Rolls-Royce isn’t exclusive enough. In recent years, the company has increasingly focused on building highly-customised versions of its cars, which can then be sold at even higher prices.

Rolls-Royce describes this strategy as “creating value for clients through individualised products and experiences and providing opportunities for meaningful personal expression”.

In practice, this has included cars with holographic paint, containing one-off artworks, or featuring intricate hand-stitched embroidery. One model, designed as a homage to the 1964 James Bond film Goldfinger, includes features made out of solid 18-carat gold.

Rolls-Royce is not alone in this. Other high-end manufacturers such as Bentley, McLaren and Ferrari also offer detailed customisation.

But making individually tailored cars, while profitable, is a labour-intensive process that requires time and space. At the same time, like other manufacturers the company is preparing for a future in which conventional cars will be phased out and replaced by electric models.

Rolls-Royce said the extension of its factory would “create additional space for the increasingly complex and high value bespoke and coach build projects sought by clients who define luxury as something deeply personal to them”.

It added that the plan would “also ready the manufacturing facility for the marque’s transition to an all-battery electric vehicle future”.

The carmaker has already been granted planning permission for the expansion of the Goodwood plant, which was built in 2003 and initially housed 300 workers. There are currently more than 2,500 people working on the site.

“This represents our most substantial financial commitment to Goodwood since its opening,” said the Rolls Royce chief executive, Chris Brownridge.

“It is a significant vote of confidence in the Rolls-Royce marque, securing our future in the UK,” he added.

As a luxury carmaker focused on export markets, Rolls-Royce is insulated from many of the challenges currently facing the wider European motor industry. However, it has been affected by a fall in demand in China, one of its most important markets.

Earlier this year, Mr Brownridge said rising demand for personalised vehicles was helping to offset that decline.

The announcement comes weeks after another famous British brand generated controversy while setting out its own plans for the future.

Jaguar – a part of Jaguar Land Rover – is to be relaunched as an all-electric marque and moved sharply upmarket as part of a major restructuring at the company.

In December, it unveiled a dramatically styled concept car, which together with a new logo and a divisive online advert sparked a social media storm – and generated plenty of column inches.

By BBC News

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Biden cited threats to national security in rejecting the Nippon Steel purchase, saying US ownership was important to keeping the US steel industry and its supply chains strong.

His intervention follows pressure from the United Steelworkers union, which had opposed a transaction that was a sensitive political issue in the 2024 US presidential campaign.

The Japanese government has called Biden’s decision “incomprehensible”.

Nippon Steel and US Steel said Biden’s decision showed the review of the deal had been “corrupted” for political gain.

The two companies, which had previously threatened to sue the government if the deal did not happen, on Friday said they would take “appropriate action to protect their legal rights”.

“We believe that President Biden has sacrificed the future of American steelworkers for his own political agenda,” the companies said in a statement, adding that the move sent “a chilling message to any company based in a US allied country contemplating significant investment in the United States”.

Japanese officials also said they were disappointed by the decision.

“There are strong concerns from the economic circles of both Japan and the US, and especially from Japanese industry regarding future investments between Japan and the US, and the Japanese government has no choice but to take this matter seriously,” Japanese industry and trade minister Yoji Muto said in a statement to Reuters.

Biden’s decision comes a year after Nippon Steel first announced the $14.9bn (£12bn) deal to buy its smaller Pennsylvania-based rival.

It raises significant questions about the path forward for the company, a 124-year-old name that was once a symbol of American industrial might but is now much diminished.

It spent months looking for a buyer before announcing the tie-up with Nippon Steel, the world’s fourth largest steelmaker, in December 2023.

US Steel has warned that it might have to close factories without the investment that would come with a new owner, concerns that had been echoed by some workers and local politicians.

The two companies had pledged not to cut jobs and made other concessions in an effort to win support for the deal. Just this week, they offered to fund a workforce training centre – and reportedly give the government the right to veto potential production cuts.

But the arguments failed to convince Biden, who had come out in opposition to the deal early last year, as election season heated up and with the key swing state of Pennsylvania poised to play a key role.

The transaction was also criticised by President-elect Donald Trump and the incoming vice-president, JD Vance, whose appeals to union workers formed a big part of their campaign message.

The US government panel charged with reviewing the deal for national security risks failed to reach a consensus by late December, leaving the decision to Biden, who was required to act within a 15-day deadline.

In his announcement on Friday he said foreign ownership presented a risk and ordered the companies to abandon the deal within 30 days.

“A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains,” he said.

“That is because steel powers our country: our infrastructure, our auto industry, and our defence industrial base. Without domestic steel production and domestic steel workers, our nation is less strong and less secure.”

The United Steelworkers union called the decision the “right move for our members and our national security”, saying its opposition had been driven by concerns about the long-term viability of its industry.

“We’re grateful for President Biden’s willingness to take bold action to maintain a strong domestic steel industry and for his lifelong commitment to American workers,” President David McCall said.

Prof Stephen Nagy, of the Department of Politics International Studies at the International Christian University in Tokyo, called Biden’s decision “political”, noting that the administration from its start promised a foreign policy “for the middle class”.

“This was a direct response and continuation of the Trump MAGA agenda of Making America Great Again,” he said. “The Biden administration couldn’t appear weak on foreign businesses, whether it’s an ally or adversary.”

White House spokesperson John Kirby dismissed suggestions the move could damage American relationships with allies, saying Biden had made clear the decision was not “about Japan”,

“This is about US steel-making and keeping one of the largest steel producers in the United States an American-owned company,” he said at a press conference.

Shares in US Steel fell more than 5% on Friday.

But analysts said the move might not mark the end of the deal. Biden’s order says the Committee on Foreign Investment in the United States can extend the 30-day deadline to scrap the transaction.

Prof Nagy said he thought the companies could decide to try again under Trump, potentially offering different terms that would allow the new president to claim he had negotiated a better deal.

Political analyst Terry Haines of Pangaea Policy also said Trump, despite his criticism of the deal, might have reason to revisit the decision.

“One of the things that’s difficult about this decision is that Japan is a very close US ally,” he said. “The government’s got frankly a big evidentiary burden in order to justify what they’re doing today – and it hurts bilateral relations with Japan, something Trump will want to avoid.”

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The Importance of Mailbox Location

The location of your mailbox is one of the most important factors to consider when selecting one. It should be easily accessible for both you and your mail carrier. Ideally, the mailbox should be located near the road but not too far from your front door or porch. This ensures that you can quickly gather your mail while still allowing your mail carrier to deliver efficiently. Moreover, local regulations often dictate where residential mailboxes should be placed. For example, they may require a specific distance from the curb or that they be installed at a certain height. These requirements are important to follow, as they ensure compliance and can save you from potential fines. Additionally, the security of your mailbox location is crucial. A mailbox positioned in a visible and active area is less likely to become a target for theft. Therefore, evaluate your options carefully to strike a balance between accessibility and security.

Types of Mailboxes Available

Mailboxes come in a variety of styles and functions, making it essential to understand each type’s purpose. For instance, traditional residential mailboxes offer diverse designs, from decorative posts to sleek modern styles. Then there are wall-mounted mailboxes, which are perfect for homes with limited space or where curb appeal is a priority. Parcel drop boxes serve as a secure option for receiving larger packages, especially for online shoppers. Many consumers are now opting for virtual mailbox services like ipostal1 mailbox, which provides the convenience of receiving and managing mail digitally. This innovative solution allows recipients to access their mail anytime, anywhere. As you explore your options, consider which mailbox type aligns best with your lifestyle, and preferences, and may offer you the convenience you desire.

Materials and Durability

The material of your mailbox directly impacts its durability and longevity. Mailboxes are typically made from metal, plastic, wood, or a combination of materials. Metal mailboxes, particularly those made from galvanized steel or aluminum, are usually more robust and resilient against the elements, making them ideal for harsher climates. Plastic models, while lighter and possibly cheaper, may not withstand extreme weather conditions as well as metal ones. Wooden mailboxes offer a unique charm and aesthetic appeal but tend to require more maintenance to repel moisture and pests. When selecting a mailbox, consider the local weather conditions and how much wear and tear your mailbox will endure. Opting for high-quality materials may incur a higher initial cost but can save you money in the long run by reducing the need for replacements or repairs.

Security Features to Consider

As mail theft becomes more common, it is essential to prioritize security features when selecting a mailbox. Look for units that come with secure locks to protect sensitive mail and packages. Lockable drop boxes can add a layer of security for items that might otherwise be vulnerable. Additionally, some mailboxes feature anti-theft designs, such as sealed slots that limit access to incoming mail. Technology also enhances mailbox security, with smart mailboxes incorporating alerts that notify you about deliveries or tampering. The right security features will depend on your lifestyle and how much you rely on your mailbox for deliveries.

Design and Aesthetic Considerations

The design of your mailbox should reflect your style while also complementing your home’s exterior. A mailbox is not just functional; it can serve as a decorative piece in your yard or wall. Consider the color, shape, and overall style of the mailbox to ensure it offers visual appeal. There are classic designs like Victorian or colonial styles, modern minimalistic units, and even quirky or themed options for those wanting a unique look. Additionally, coordinating the mailbox style with other exterior elements such as garden decor, house siding, and fence design can enhance curb appeal significantly.

Cost and Budgeting

The cost of mailboxes can vary widely based on material, style, and features. Setting a clear budget helps narrow down your options without feeling overwhelmed. Basic mailboxes may start at around twenty dollars, while high-end models can easily exceed several hundred. If you choose to invest in a virtual mailbox service such as iPostal1, consider ongoing monthly fees along with setup costs. Ensure to weigh the features against the price to determine the best value for your needs. Remember, spending a little extra for a durable and secure mailbox may ultimately pay off by preventing future replacements due to wear and tear.

Weather Resistance and Maintenance

Weather resistance is a vital consideration when choosing a mailbox, as it determines how well your unit will endure the elements. Consider the climate of your area, whether it’s rainy, snowy, or sunny. Mailboxes designed specifically for resilience often come with coatings or treatments that shield against rust, fading, and corrosion. Regular maintenance is also key to prolonging a mailbox’s life, such as repainting, cleaning, and securing any loose parts. Selecting a mailbox that’s easy to maintain will save you time and trouble over time, ensuring it always looks its best.

Choosing the perfect mailbox may seem like a simple task, but it can significantly impact your daily life and home aesthetics. By considering factors like location, type, materials, security, design, cost, weather resistance, and maintenance, you can make an informed decision. Assessing your unique needs and preferences will lead you to a mailbox that is not only functional but also an attractive addition to your home’s exterior. Take your time in evaluating your options, and you will find a mailbox that suits both your practical needs and personal style.

The post The Ultimate Guide to Finding the Perfect Mailbox for Your Needs appeared first on KahawaTungu.

They plays a crucial role in driving the country’s economic growth by channeling their funds into various financial projects and ventures that fuel innovation and progress. For instance, Elon Musk has recently announced the formation of an artificial intelligence startup called xAI. This new company brings together a team of talented engineers with experience at leading firms like OpenAI and Google, aiming to revolutionize the AI landscape and create groundbreaking opportunities for future financial investments.

These outstanding leaders, who are visionary and innovative, have risen to the pinnacle of success, joining the ranks of the world’s wealthiest individuals. After all, the net wealth of the top ten richest individuals exceeds the GDP of many countries. Today, their wealth is mostly concentrated in the technology, banking, and retail sectors. The widening wealth imbalance between them and the less fortunate is a major issue for people around the world.

This article reveals the identities of the world’s top ten richest people, focusing light on their astounding achievements, entrepreneurial skills, and tremendous impact on the global economy. 

Elon Musk

• Age: 53
• Residence: United States
• Co-founder and CEO: Tesla
• Net Worth: $343 billion
• Tesla Ownership Stake: 13% ($142 billion)
• X Ownership Stake: 79% ($5.62 billion)
• Other Assets: Space Exploration Technologies ($82.2 billion private asset), The Boring Company ($3.33 billion private asset), Neuralink ($2.07 billion private asset), xAI ($25 billion private asset)

Known as the world’s richest man and person, Elon Musk serves as the CEO of some well-known businesses, such as SpaceX, a space exploration corporation, and Tesla, an electric vehicle manufacturer. At the moment, he owns 12.86 percent of Tesla. Approximately two-thirds of Tesla’s wealth is dependent on his success. It made headlines when Musk paid $44 billion to acquire Twitter (now X) in October 2022.

In 2010, Tesla went public under Musk’s leadership. By September 2021, Musk was among the top 10 richest persons in the world, thanks to the company’s notable market capitalization rise in 2020 and 2021. Musk’s wealth peaked in November 2021 at an incredible $320 billion. 

Jeff Bezos

• Age: 60
• Residence: United States
• Founder and Executive Chair: Amazon (AMZN)
• Net Worth: $229 billion
• Amazon Ownership Stake: 8.8% ($189 billion)
• Other Assets: Blue Origin ($15 billion private asset), The Washington Post ($250 million private asset), Koru ($500 million private asset), and $23.7 billion in cash

Jeff Bezos, the third richest man in the world, started Amazon.com in a Seattle garage not long after leaving the massive hedge fund firm D.E. Shaw. He set out on a space journey that same month on a rocket built by Blue Origin, the private space exploration business he created and has billions of money to support. His previous supervisor, David E. Shaw, had initially rejected his proposal for an online bookstore.

Although it began as a bookseller, Amazon has evolved into a one-stop shop for everything and is predicted to surpass Walmart as the biggest retailer in the world by 2024. Some of Amazon’s unanticipated expansions, such as its 2017 acquisition of Whole Foods and entry into the pharmacy industry, demonstrate the company’s ongoing diversification pattern. Bezos, his brother Mark, aviation pioneer Wally Funk, and Dutch student Oliver Daemen successfully accomplished Blue Origin’s first crewed flight on July 20, 2021, ascending more than 66 miles before making a safe landing. In the same month, Bezos’ wealth peaked at $213 billion.

Mark Zuckerberg

• Age: 40
• Residence: United States
• CEO and Chair: Meta Platforms (META)
• Net Worth: $203 billion
• Meta Platforms Ownership Stake: 13% ($198 billion)
• Other Assets: $5.58 billion in cash

At the age of 19, Mark Zuckerberg, co-founder and CEO of Meta Platforms, founded Facebook in 2004 while enrolled at Harvard University to study psychology and computer science. Facebook was first created to let students connect by matching their names with images. In 2006, it became accessible to everyone with a working email address who was at least 13 years old.

After taking the business public in May 2012, Zuckerberg was placed 10th on Forbes’ list of the world’s most influential people by December 2016. At the moment, Zuckerberg controls roughly 13.68 percent of Meta Platforms. Zuckerberg is 39 years old, married to Priscilla Chan, and has three daughters. By working together, they are spending $3 billion to eradicate, treat, or control every illness by 2100.

Bill Gates

• Age: 69
• Residence: United States
• Co-founder: Microsoft (MSFT)
• Net Worth: $164 billion
• Microsoft Ownership Stake: 1% ($27.4 billion)
• Other Assets: Billions in multiple other companies held through a holding company, Cascade Investment, and $81.3 billion in cash

In 1975, Bill Gates traveled to Harvard University to work with Paul Allen, a buddy from his youth, on creating new software for the first microcomputers. After the success of this effort, Gates left Harvard in his junior year and joined Allen in founding Microsoft.

Microsoft, the world’s largest software corporation, also manufactures a range of personal computers, sells video game systems and related gaming devices, and offers email services via its Exchange server. It has made significant investments in cloud services lately.

Larry Page

• Age: 51
• Residence: United States
• Co-founder and Board Member: Alphabet (GOOG)
• Net Worth: $153 billion
• Alphabet Ownership Stake: 6% ($132.2 billion)
• Other Assets: $20.6 billion in cash

Larry Page started his journey to fame and money in a college dorm room, just like many other millionaires on our list. Page and his friend Sergey Brin developed the concept of enhancing Internet data extraction in 1995 while they were students at Stanford University. To evaluate links to a page, the two created a new search engine technique called Backrub. Following that, Page and Brin founded Google in 1998, and Page was the company’s CEO from 2001 to 2019 and again from 2011 to 2019.

With over 92% of global search queries, Google is the world’s most used Internet search engine. The firm acquired YouTube, the leading platform for user-submitted videos in 2006. Google released the Android mobile phone operating system in 2008 following its acquisition of Android in 2005. In 2015, Google underwent a reorganization and became a subsidiary of the holding corporation Alphabet.

Page was one of the first investors in space exploration and asteroid mining firm Planetary Resources. Amid financial difficulties, the 2009-founded business was purchased by blockchain startup ConsenSys in 2018.

Top 10 richest people in the world

Explore the top 10 richest people in the world, featuring influential entrepreneurs and business magnates with staggering net worth.

Wrapping Up

If you want to go closer to making the list of the richest billionaires, consider being a technical pioneer or a luxury retail mastermind. Alternatively, you may keep things simple and focus on value investment. It wouldn’t hurt to have been born into riches; nonetheless, the greatest fortunes on this list began with solid ideas, which people with creativity, determination, and connections utilized to develop some of the world’s largest corporations.

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The company says it sold 207,734 EVs in December, taking its annual total to 1.76 million, as subsidies and discounts helped attract customers.

It comes as Tesla is due to announce its own quarterly sales figures later on Thursday.

The US electric car maker maintained a slim lead in EV sales over BYD in the previous quarter but the Shenzhen-based firm has been narrowing the gap.

BYD’s total vehicle sales jumped more than 41% in 2024, year-on-year. The surge was powered mainly by sales of its hybrid cars.

The company has benefited from a rise in car sales in its home market, as intense competition drove down prices and government subsidies encouraged consumers to replace their old cars with EVs or other more fuel efficient options.

BYD sells 90% of its cars in China, where its been extending its lead over foreign brands like Volkswagen and Toyota.

The rise of BYD and other Chinese EV makers contrasts with the challenges faced by some legacy car makers, which have been struggling in major Western markets.

Last month, Honda and Nissan confirmed that they were holding merger talks, as the two Japanese firms seek to fight back against competition from the Chinese car industry.

Also in December, Volkswagen announced it had reached a deal with the IG Metall trade union which will avert plant closures in Germany and avoid immediate compulsory redundancies.

The German motor industry giant had previously warned it might have to shutter plants in the country for the first time in a bid to cut costs.

Earlier in the month, the boss of car making giant Stellantis, Carlos Tavares, quit with immediate effect following a boardroom clash.

His abrupt exit from the company – which owns brands including Vauxhall, Jeep, Fiat, Peugeot and Chrysler – came two months after Stellantis issued a profit warning.

In the third quarter of 2024, BYD saw its revenues soar, beating Tesla’s for the first time.

It posted more than 200bn yuan ($28.2bn, £21.8bn) in revenues between July and September – a 24% jump from the same period last year, and more than Elon Musk’s company whose quarterly revenue was $25.2bn.

However, Tesla still sold more electric vehicle (EVs) than BYD.

Chinese car makers have been trying to boost sales of their EVs outside the country but have faced pushback in some major markets.

In October, European Union tariffs of up to 45.3% on imports of Chinese-made EVs came into force across the bloc.

The US has also imposed a 100% duty on EVs from China and President-elect Donald Trump is expected to impose further tariffs on imports.

Meanwhile, BYD has been expanding its foothold in emerging economies.

Last month, it faced a setback in Brazil – its largest overseas market – with authorities halting the construction of a BYD factory, saying workers lived in conditions comparable to “slavery”.

BYD said it had cut ties with the construction firm involved and remained committed to a “full compliance with Brazilian legislation”.

By BBC News

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