International Business & Economy Singapore resident, an Elon Musk superfan gets on Forbes 400 list after...

Singapore resident, an Elon Musk superfan gets on Forbes 400 list after going all out on Tesla stock

“Any money I have, I spend on Tesla.” — Singapore Resident

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Elon Musk seems to be in the news all the time, not just for his money-making abilities, but also for his shenanigans. Well, a super fan of his landed in the number one spot on the Forbes 400 list just by buying all the Tesla stock available at the time.

Leo Koguan is now at number 112 on the rich list by owning more than 22,750,000 shares of TSLA.

A Singaporean resident and a United States citizen, the divorced father of two, is the founder of the IT firm SHI International. With a net worth of $7.2 billion, Koguan has accumulated more wealth than hedge fund billionaires George Soros and Melinda Gates.

In 2020, TSLA stock was valued at $30, today it is worth 10 times that amount, which is around USD$260 and $300. Those who invested in 2019 have become millionaires, better known as Teslanaires.

Koguan told Bloomberg that he began trading stocks in 2019 and started buying up shares in companies like Baidu and Nvidia. Once he started to lose money, he sold those shares but kept TSLA. He kept on buying that and by early 2020 he had $1.5 billion. Today he spends all his money investing in Tesla.

Currently, Koguan owns 22.6 million shares of Tesla and 1.23 million options, making him the company’s third-largest individual shareholder after Musk himself and Oracle founder Larry Ellison, according to Bloomberg’s Billionaires Index.

He also told Forbes that he is an “Elon’s fanboy”. He told Bloomberg, “Any money I have, I spend on Tesla”.

According to Bloomberg, Koguan spends a portion of his wealth making donations to Chinese universities. In late 2020, he is said to have paid $46 million for a Singapore penthouse owned by vacuum cleaner tycoon James Dyson.

This year, Elon Musk unseated Amazon’s Jeff Bezos, who has held the top spot for four consecutive years. Musk is an estimated $60.5 billion richer due to an 11% rise in Tesla shares.

The minimum fortune needed to make the list fell to $2.7 billion, down $200 million from last year’s $2.9 billion.


The post Elon Musk super fan gets on Forbes 400 list after going all out on Tesla stock appeared first on The Independent World News.

 

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