This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/520045-energy-billionaires-earn-oil-rally/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Energy billionaires became $51 billion richer from 2021 oil rally | Energy billionaires became $51 billion richer from 2021 oil rally |
| (5 months later) | |
| The world’s oil billionaires became even richer in the first quarter of 2021, adding a combined net worth of $51 billion to their fortunes as oil prices rallied and investor confidence in excessively punished oil stocks returned. | The world’s oil billionaires became even richer in the first quarter of 2021, adding a combined net worth of $51 billion to their fortunes as oil prices rallied and investor confidence in excessively punished oil stocks returned. |
| According to the Bloomberg Billionaires Index, a daily ranking of the world’s richest people, US oil tycoon Harold Hamm saw his net worth jump by $3.3 billion year to date to stand at $8.4 billion as of April 2. | According to the Bloomberg Billionaires Index, a daily ranking of the world’s richest people, US oil tycoon Harold Hamm saw his net worth jump by $3.3 billion year to date to stand at $8.4 billion as of April 2. |
| Shares in Continental Resources that Hamm has founded have jumped by 59% year to date. | Shares in Continental Resources that Hamm has founded have jumped by 59% year to date. |
| Indian billionaire Gautam Adani with interests in ports, commodities, and power generation saw his net worth surge by $23.3 billion to $57.1 billion in the first quarter. This was the largest increase in a billionaire’s wealth so far this year anywhere in the world, according to the Bloomberg Billionaires Index. | Indian billionaire Gautam Adani with interests in ports, commodities, and power generation saw his net worth surge by $23.3 billion to $57.1 billion in the first quarter. This was the largest increase in a billionaire’s wealth so far this year anywhere in the world, according to the Bloomberg Billionaires Index. |
| In total, the energy billionaires globally saw their combined net worth jump by around 10% in the first quarter, the highest growth in wealth of any group of billionaires in the index compiled by Bloomberg. | In total, the energy billionaires globally saw their combined net worth jump by around 10% in the first quarter, the highest growth in wealth of any group of billionaires in the index compiled by Bloomberg. |
| Investors have warmed up in recent months to the energy sector, which bore the brunt of last year’s shock of crashing oil prices and oil demand. The energy sector has been the top performer in the S&P 500 index year to date. Some exchange-traded funds (EFTs) tracking oil prices have surged since the start of 2021 as investors turned their attention to industries expected to benefit the most from the economic recovery. Energy is one of those, and analysts still see upsides for energy stocks and ETFs. | Investors have warmed up in recent months to the energy sector, which bore the brunt of last year’s shock of crashing oil prices and oil demand. The energy sector has been the top performer in the S&P 500 index year to date. Some exchange-traded funds (EFTs) tracking oil prices have surged since the start of 2021 as investors turned their attention to industries expected to benefit the most from the economic recovery. Energy is one of those, and analysts still see upsides for energy stocks and ETFs. |
| Some banks, including JP Morgan and Goldman Sachs, said in February that they expected a new supercycle in oil, with economies rebounding from last year’s pandemic shock. | Some banks, including JP Morgan and Goldman Sachs, said in February that they expected a new supercycle in oil, with economies rebounding from last year’s pandemic shock. |
| The International Energy Agency (IEA), however, does not see a supercycle in oil on the horizon amid plentiful supply and a large global spare capacity. | The International Energy Agency (IEA), however, does not see a supercycle in oil on the horizon amid plentiful supply and a large global spare capacity. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |