The News Journal

 Elon Musk, founder and chief executive of electric vehicle maker Tesla and rocket company SpaceX, is the world’s richest person, with a current net worth of $259 billion, according to the Bloomberg Billionaires Index. Mr Musk’s enormous fortune far exceeds that of Amazon founder Jeff Bezos — the world’s second-wealthiest person, with a net worth of $180bn — by $79bn. The 50-year-old was first crowned the world’s richest person in January this year, when his net worth was valued at $273.5bn by Bloomberg, which compared his wealth with John D Rockefeller. “Mr Musk reached the level of riches, inflation-adjusted, achieved by modern history’s wealthiest person,” Bloomberg said at the time. However, a combination of volatile stock markets, the Russia-Ukraine crisis and the Covid-19 pandemic has taken a toll on Mr Musk’s net worth, which has fallen by 4.1 per cent — or $11bn — since the beginning of the year, according to Bloomberg. Just last week, Mr Musk was also declared the richest ...

 Lombard Odier, Geneva's oldest private bank and one of Switzerland's biggest private lenders, aims to double its assets under management in the Middle East in the next five years as regional economies recover strongly from the pandemic on the back of higher oil prices and a rapid vaccination programme. The 226-year old bank, which had $383 billion in total assets globally at the end of 2021, up 13 per cent on the previous year, has been active in the wealth management business in the Middle East for more than 50 years, with offices in Dubai and Abu Dhabi. “The Middle East [has been] one of the fastest-growth businesses for Lombard Odier for the last 10 years,” Arnaud Leclercq, group managing director of Lombard Odier, told The National . “We want even more because we have reached a certain level of recognition and we believe we have the opportunity to double what we have today.” Arnaud Leclercq, group managing director of Lombard Odier. The bank with total assets of $393 billi...