Donald Trump Person of the Year | Elon Musk Worth $400b | Indonesia Billionaire Boom

December 12, 2024

Market Update

  • Nasdaq Composite Index breaks through 20,000 points, setting a new all-time high.

  • Alphabet stock hits record high on Google’s new AI model; options pop.

  • Tesla hits new all-time high as upward trend continues in overnight trading.

  • Adobe expects lower revenue for fiscal year 2025 due to slowing subscription sales.

  • The EBC lowers its main interest rate by 25 basis points as expected to 3%.

  • China signals further stimulus measures, including raising its budget deficit in 2025, at key economic meeting.

Donald Trump is Time magazine’s Person of the Year

Time's Person of the Year: Trump also received the title in 2016, after his first presidential election victory, and now joins a select group of people who have been chosen twice.

Economic Impact: The recognition highlights Trump's influence on the economy, particularly his policies on trade and deregulation.

Political Comeback: The magazine highlighted Trump's unprecedented political comeback and his influence on American politics.

Public Opinion: The article discusses the mixed reactions from the public and political analysts regarding Trump's selection. [Learn more]

Elon Musk’s net worth tops US$400 billion, a historic first

Record Net Worth: Elon Musk's net worth has surpassed $400 billion, making him the first person to reach this milestone.

SpaceX Share Sale: An insider share sale of SpaceX boosted Musk's net worth by roughly $50 billion.

Tesla's Performance: Tesla shares rallied to an all-time high, contributing significantly to Musk's wealth.

Wealth Grown: Elon Musk has added about US$218 billion to his net worth since the start of 2024, more than any other member of the group. [Learn more]

Indonesia’s billionaire boom: record wealth, new entrants and rising fortunes

Record Wealth: The collective wealth of Indonesia's tycoons has soared by US$11 billion this year, reaching a record-breaking total of US$263 billion.

New Entrants: The minimum net worth to make the Forbes Indonesia's 50 Richest list has crossed $1 billion for the first time.

Sector Growth: Booming sectors like mining, agribusiness, and digital ventures, especially data centers, are driving this wealth surge.

Top Tycoons: The Hartono brothers lead with $50.3 billion, followed by Prajogo Pangestu, Low Tuck Kwong, the Widjaja family, and Anthoni Salim. [Learn more]

Joke of the Day!

Why didn’t koala bear get the job?

Because he wasn’t koalafied.

(Send me your favorite jokes to be highlighted in the next edition)

Generative AI Photo of the Day!

Credit: DALL-E 3

Prompt: A stylish koala dressed in a sharp, tailored suit, sitting at a modern office desk. The koala has a confident and focused expression, wearing sleek glasses. Surround it with high-tech gadgets, like a laptop, smartphone, and a sleek coffee mug. The office environment is chic and contemporary, featuring floor-to-ceiling windows with a city skyline view. Add a touch of greenery with potted plants and a motivational poster on the wall. The lighting is warm and professional, casting a sophisticated ambiance over the scene.

Thanks for reading.

If you enjoyed today’s edition, consider sharing this newsletter with a friend or colleague who might find it valuable. I’d also love to hear your thoughts—feel free to reply with any feedback or ideas.

If this email was forwarded to you, don’t miss out on future editions - subscribe here.