He is the generation’s finest innovator and markets have rewarded Elon Musk, anointing him the richest man on earth. In 2021, I wrote ‘… SpaceX Starlink would in near future develop a “special phone” which would make it possible for users to connect directly to SpaceX satellites without an “intermediary” or downlink station.’ Here, many challenged the impossibility on form factor, cost, etc.

Good People, “e don happen” because Elon Musk happens to the world: “TMobile has announced that SpaceX’s Falcon 9 rocket has launched the first Starlink satellites with direct to cell capabilities…Starlink would begin offering SMS solutions in partnership with TMobile in 2024, with voice, data and IoT services to follow in 2025.” Yes, in the near future, you can get a phone hooked to Starlink sats with no need of any GSM, CDMA, etc signals. What that means is clear: you have a global phone, untethered to the national geographies and roaming cost paralysis.

Now, what needs to happen is something similar to Moore’s law to make the cost come down. Because it is electronics, that is guaranteed! Please check your telco holdings in the stock market. Shine your eyes because the kid from South Africa is hungry for more disruptions.

SpaceX is taking a big step into a new arena: cellphones. Elon Musk’s space-exploration outfit launched a rocket with the first satellites that can bring mobile phone service to more remote areas, T-Mobile announced Wednesday. The Starlink satellites will act like cell towers, but in space; they’ll first enable text messaging, and ultimately voice and data, too. In the U.S., SpaceX has partnered with T-Mobilefor the “Direct to Cell” initiative, and in Canada, with Rogers Communications. It’s also planning to offer the service in Australia, Switzerland, New Zealand, Chile, Peru and Japan.

Starlink is projected to hit about $10 billion in sales this year, with Musk reportedly mulling spinning it off in a separate IPO, perhaps within months, per Bloomberg.

SpaceX Sets New Record and Unveils Starlink Satellite Phone Future

Elon Musk’s SpaceX has shattered its own record for annual orbital rocket launches, achieving an astonishing 96 successful missions in 2023, a feat accomplished at an unprecedented pace, averaging a remarkable launch every four days.

Throughout the year, SpaceX executed 91 launches utilizing its Falcon 9 rocket and an additional five missions with the Falcon Heavy, surpassing the company’s earlier annual record of 61 orbital launches in 2022.

This monumental achievement underlines SpaceX’s rapid acceleration in space launch capabilities, evident in the fact that the Falcon 9 was launched more times in 2023 than in the entire first decade following its debut.

In tandem with these milestones, SpaceX reached significant technological feats. Among them, the landing of the 250th orbital rocket booster stands out, showcasing the company’s commitment to reusability in rocket technology.

Additionally, SpaceX achieved a groundbreaking milestone by launching and landing a single rocket 19 times, further pushing the boundaries of reusable rocket systems.

Notably, the company also set a new internal record for the shortest time between orbital launches, at just under three hours, a feat unmatched since NASA’s Gemini 11 mission in 1966.

Of note, SpaceX’s impressive launch count for the year excludes its pair of Starship test flights, which were not intended to carry commercial payloads bound for orbit.

Jon Edwards, SpaceX’s vice president of Falcon launch vehicles, took to social media to highlight Elon Musk’s previous hypothetical goal of 100 launches. Edwards expressed immense pride in SpaceX’s exceptional team, recognizing their monumental achievements and expressing anticipation for the upcoming year.

“Here we are. I’m so incredibly proud to work with the best team on earth, and so excited to see what we achieve next year,” Edwards wrote in his social media post, encapsulating the team’s achievements and setting sights on the future.

Looking ahead, SpaceX officials have unveiled ambitious plans to further expand their performance, aiming for as many as 144 Falcon missions in 2024. This fervent pursuit aligns with the company’s ongoing deployment of satellites for the Starlink system, a pivotal driver contributing to SpaceX’s valuation of $180 billion.

The remarkable advancements made by SpaceX in 2023, marked by unprecedented launch successes and reusability milestones, firmly position the company at the vanguard of space exploration and commercial satellite deployment.

With their sights set on ambitious targets for the upcoming year, SpaceX continues to fortify its standing as a trailblazing force in the aerospace industry, propelling humanity further into the realms of space exploration.

SpaceX is taking a big step into a new arena: cellphones. Elon Musk’s space-exploration outfit launched a rocket with the first satellites that can bring mobile phone service to more remote areas, T-Mobile announced Wednesday. The Starlink satellites will act like cell towers, but in space; they’ll first enable text messaging, and ultimately voice and data, too. In the U.S., SpaceX has partnered with T-Mobilefor the “Direct to Cell” initiative, and in Canada, with Rogers Communications. It’s also planning to offer the service in Australia, Switzerland, New Zealand, Chile, Peru and Japan.

• Starlink is projected to hit about $10 billion in sales this year, with Musk reportedly mulling spinning it off in a separate IPO, perhaps within months, per Bloomberg.

• (LinkedIn News)

In Nigeria right now, everyone is a victim. Mike Adenuga lost the budget of some geopolitical zones in Nigeria as his wealth decreased from $6.3 billion in 2023 to $3.1 billion. As that was happening, Rabiu of BUA Cement decreased from  $7.6 billion to $5.7 billion in networt.

Of course, not to be accused of cheating others, Aliko Dangote made sure he lost money: “This saw Aliko Dangote move down to second position after his wealth declined from $13.5 billion in 2023 to $9.5 billion at the start of 2024”. This is a clear equal opportunity loss.

So, Dangote has lost his throne as Africa’s richest man to South Africa’s  Johann Rupert & Family. This poses a huge risk to Nigeria. If Dangote and others’ networts continue to drop, some of the loans they personally guaranteed may be in trouble. So, you are likely going to see some of their major projects punted.

Yet, Dangote, Rabiu, Adenuga, etc will be fine. My concern remains that corn seller who has become homeless because Nigeria happened to her. Good People, good luck to everyone in this age of mindless economic own-goals . May you NOT decline in 2024.

South African Billionaire Johann Rupert Dethrones Aliko Dangote to Emerge as Africa’s Richest Man

According to a recent list released by Forbes Magazine, South African Business Mogul, John Rupert has dethroned Nigerian Aliko Dangote to emerge as the richest man in Africa.

In the ranking, Johann Rupert & family’s wealth went from $10.7 billion to $10.3 billion to emerge as Africa’s richest man.

This saw Aliko Dangote move down to second position after his wealth declined from $13.5 billion in 2023 to $9.5 billion at the start of 2024.

The decline in Dangote’s wealth was attributed to several factors which include unfriendly economic policies, and naira devaluation, amongst others.

The Forbes Daily billionaires ranking platform, which monitors daily changes in the net worth of high-net-worth individuals globally, highlighting additional shifts in the billionaire rankings.

On the list, South Africa’s Nicky Oppenheimer experienced a marginal decrease, maintaining their third position with a wealth of $8,400,000,000.

While Nassif Sawiris moved up to the fourth position, displacing Rabiu Abdulsamad, whose wealth decreased.

A newcomer to the list, Nathan Kirsh from Eswatini, entered the sixth position with a net worth of $5,800,000,000, and Mike Adenuga, who held a prominent position in 2023, moved down four positions to become the tenth richest man in Africa.

Here is an updated list of Africa’s richest men for 2024

1. Johann Rupert & Family $10.3 billion

2. Aliko Dangote $9.5 billion

3. Nicky Oppenheimer & Family $8.3 billion

4. Nassef Sawiris $7.4 billion

5. Abdulsamad Rabiu $5.9 billion

6. Nathan Kirsh $5.8 billion

7. Issad Rebrab & Family $4.6 billion

8. Mohamed Mansour $3.6 billion

9. Naguib Sawiris $3.3 billion

10. Mike Adenuga $3.1 billion

Profile of Johann Rupert, Africa’s current richest man

Johann Peter Rupert (born 1 June 1950) is a South African billionaire businessman, who is the eldest son of business tycoon Anton Rupert and his wife Huberte. He is the chairman of the Swiss-based luxury goods company Richemont and the South Africa-based company Remgro.

Credited with having spearheaded Richemont’s prominence within the luxury sector since joining in 1984, Rupert holds the majority shareholding of parent company Compagnie Financière Richemont and also administers the activities of the investment company division Remgro.

The South African businessman founded Richemont in 1988 as a spin-off of Rembrandt Group Limited, a company established by his father Anton Rupert in the early ‘40s. In 1993 Rupert split the group’s tobacco and luxury goods activities between two subsidiary companies, with Vendôme Luxury Group overseeing the operations of the group’s watch, leather goods, and apparel interests.

In 1998 Rupert realigned Vendôme into the Richemont group with a buyout of the minority interest shareholders and set it on a steady growth strategy that saw the acquisition of brands such as Azzedine Alaïa, Roger Dubuis and Van Cleef & Arpels. In 2007 Rupert also entered into a 50/50 joint venture with Polo Ralph Lauren to form the Ralph Lauren Watch and Jewelry Company.

Since April 2010, he has been the CEO of Compagnie Financiere Richemont. He alsoowns part of the Saracens English rugby team and Anthonij Rupert Wines, named after his deceased brother.

The year 2023 marked a significant turnaround for the tech sector, a phoenix rising from the ashes of the challenges faced in 2022, which saw several tech giants drop significant amounts of gains.

An analysis by CNBC unveiled a staggering performance by the Nasdaq, known for its heavy concentration of technology stocks. Following a daunting 33% decline the previous year, the Nasdaq defied the odds, concluding 2023 with an impressive surge of 43%, marking its most robust performance since 2020, a year that narrowly edged past this triumph.

What’s more striking is that this surge falls just short of the index’s outstanding showing in 2009, making these two years the standout performers since the aftermath of the dot-com crash in 2003. Currently, the Nasdaq sits a mere 6.5% below its record high set in November 2021.

Various factors contributed to the tech industry’s resurgence. The Federal Reserve’s decision to halt interest rate hikes, coupled with a stabilized outlook on inflation, reinvigorated risk appetites. Companies strategically leveraged cost-cutting measures initiated in late 2022, laser-focused on boosting efficiency and widening profit margins.

Kevin Simpson, founder of Capital Wealth Planning, underlined this shift, stating, “Once you have a Fed that’s backing off, no mas, in terms of rate hikes, you can get back to the business of pricing companies properly — how much money do they make, what kind of multiple do you put on it. It can continue into 2024.”

This resurgence in tech stocks was further amplified by the emergence of generative artificial intelligence, a disruptive force compelling companies to invest in what’s hailed as the next technological frontier.

Nvidia emerged as a frontrunner in the AI industry, experiencing an astonishing 239% surge in its stock price throughout 2023. The company’s graphics processing units (GPUs), essential for training and operating advanced AI models, witnessed soaring demand from large cloud vendors and well-funded startups. Recording a sixfold increase in net income, soaring to $17.5 billion in the first three quarters of 2023, Nvidia’s revenue tripled in the latest quarter.

Jensen Huang, Nvidia’s CEO, described March as the onset of AI’s “iPhone moment,” expressing, “Startups are racing to build disruptive products and business models, while incumbents are looking to respond. Generative AI has triggered a sense of urgency in enterprises worldwide to develop AI strategies.”

Generative AI gained substantial traction post the late 2022 launch of OpenAI’s ChatGPT, allowing users to engage in sophisticated conversations through minimal text inputs. The technology’s applications expanded rapidly, spanning from travel bookings to customer service enhancements and software development.

Major tech titans, including Microsoft, Google, Meta (formerly Facebook), and Amazon, heavily invested in generative AI, integrating it extensively across their product suites. Andy Jassy, Amazon’s CEO, forecasted generative AI’s revenue potential for Amazon Web Services in the tens of billions, revolutionizing inventory forecasting, transportation routes, product pages for third-party sellers, and image generation for advertisers.

Microsoft, leveraging its integration of generative AI into Bing, Office, and Windows, witnessed a stock rally reminiscent of 2009, with shares escalating by 58%. Michael Turrin, a Wells Fargo analyst, accentuated Microsoft’s leadership in AI, dubbing the company as “the outright leader in the early AI wars.”

Concurrently, Microsoft reported historic profitability in its latest earnings report, showcasing a gross margin exceeding 71% for the first time since 2013. The company’s focus on efficient data center management and reduced hardware reliance translated into higher margins for its Windows, Xbox, and search segment.

This tech sector’s extraordinary recovery and the escalating influence of generative AI highlight a seismic shift in the industry, positioning these advancements as the driving forces behind the Nasdaq’s resurgence and the revitalization of major tech conglomerates.

The year 2023 undoubtedly witnessed a technological renaissance, heralding an epoch of innovation and profitability propelled by cutting-edge technologies and strategic investments in artificial intelligence. But as these advancements evolve, the industry’s growth hangs greatly on the transformative changes they bring.