Elon Musk 3rd world richest ranking slip post bitcoin nosedive - Tesla founder Elon Musk has been pushed down to 0.33 place in international’s richest ranking after shares in the carmaker tumbled. The plunge got here after the billionaire sent the bitcoin market into panic with a single tweet.

Musk, who as currently as March climbed to the coveted pinnacle spot inside the Bloomberg Billionaires Index earlier than being edged out by means of Amazon’s Jeff Bezos, misplaced his runner-up position to Bernard Arnaut, chairman of world’s largest luxury items conglomerate LVMH on Monday, the Bloomberg mentioned.

The drop in Musk’s fortune, that is now predicted at $160.6 billion, some 24% lower considering the fact that January, is thought to be pushed by the lukewarm performance of Tesla’s inventory, which fell by means of 2.1 percent on Monday to $576.Eighty three – a far cry from the best-ever high of $883.09 in January.

Elon Musk 3rd world richest ranking slip post bitcoin nosedive

While Tesla stocks are referred to for taking a deep plunge on Mondays simplest to get better a number of their value towards the quit of the week, it may properly be that Musk’s bitcoin-themed Twitter posts sooner or later caught up with him.

As recently as Sunday, Musk threw the arena’s largest crypto into freefall after buyers interpreted his unmarried-word tweet as a demonstration that he might have sold or considered selling Tesla’s cryptocurrency inventory. Musk tweeted “certainly” in reaction to a person who stated that “bitcoiners are going to slap themselves next area once they discover Tesla dumped the relaxation of their #bitcoin holdings,” and that “with the quantity of hate @elonmusk is getting, I wouldn’t blame him.”

Elon Musk 3rd world richest ranking slip post bitcoin nosedive

The tweet sent ripples across the cryptocurrency international, with bitcoin careening to as little as $forty two,441 at one factor in its biggest drop in three months.

Elon Musk 3rd world richest ranking slip post bitcoin nosedive: While it regained a few strength after Musk took to Twitter to clarify that Tesla had now not bought any bitcoin, it didn’t quite get better and is buying and selling at about $45,000 as of Monday night.

Last week, Musk, who has been a proponent of cryptocurrencies, dealt any other serious blow to the world’s main crypto by means of pronouncing that Tesla might not be given charge for its motors in bitcoin, mentioning environmental issues related to using fossil fuels in its mining. In February, Musk announced that the carmaker had sold $1.Five billion really worth of bitcoin, sending the fee of the token hovering.

# Elon Musk 3rd world richest ranking slip post bitcoin nosedive #

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Russian agricultural exports to China keep growing regardless of pandemic

Supplies of Russian agricultural merchandise and foodstuffs (excluding fishery merchandise) to China accelerated by way of 17.6% in the first sector of this yr, in keeping with Russia’s exchange representative to China, Alexey Dakhnovsky.

“Despite the hard epidemiological state of affairs and the imposed quarantine regulations, the deliver of some Russian agricultural and food merchandise not only did now not lower but endured to develop,” Dakhnovsky said on Tuesday on the international meals honest ‘SIAL China 2021’ in Shanghai.

According to him, supplies of fat and oils increased substantially at some stage in the duration via over 56% yr-on-year.

Despite the financial disruptions because of the coronavirus pandemic, trade among Russia and China endured to develop and passed $a hundred billion in 2020. Trade turnover reached $forty.207 billion in January-April 2021, which is 19.Eight% better than it turned into inside the equal length ultimate 12 months. The  countries intention to double the volume of trade in 2021 to $two hundred billion.

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Iran is making plans an oil export boost once US lifts sanctions

 Iran is making ready to reinforce production and exports of crude oil as talks on the nuclear deal with the US keep to progress, government officers said, as quoted via Bloomberg.

According to the record, Iran should go back to a manufacturing stage of 4 million bpd in as little as 3 months. What’s extra, it can upload to that figure tens of millions of barrels of crude presently in garage, the report stated.

At the moment, the National Iranian Oil Company is getting ready fields for more production, even though a deal isn't always certain at all. Even if signed, it will take some time for all hurdles the Trump management positioned at the way to Iranian oil to international markets to be removed.

“Our go back may be a slow technique in preference to fast and surprising -- it may’t manifest in a single day,” former NIOC legitimate and Iran OPEC envoy Mohammad Ali Khatibi told Bloomberg in an interview. That’s now not most effective because of US sanctions however due to the harm to crude oil call for resulting from the coronavirus pandemic.

Even when the sanctions are lifted, a few shoppers can be reluctant to do enterprise with Tehran, Khatibi also stated, as quoted by Bloomberg. However, oil manufacturing will nearly without a doubt develop, in keeping with analysts.

No depend how the negotiations end, and regardless of what occurs to the Iranian oil enterprise after the stop of the talks, Iran’s oil minister won’t be there to peer it as he said he will be retiring later this year after the time period of President Hassan Rouhani ends.

“If they offer me the presidency I received’t accept it, not to mention the ministry,” Bijan Zanganeh told media, as quoted by way of Bloomberg. “I will retire, I won’t take some other respectable put up. But politics is existence, you can’t separate yourself from it completely.”