Financial markets are affected by economic events and news. What about people? We took a look at 10 people who could make a difference.
10 - Mark Zuckerberg
The CEO of Meta Platforms is getting a lot of attention. The investment into virtual reality headsets was a huge leap into the virtual. The stock lost 70% of its value in the year 2022.
He lost $100 billion hours after the announcement. Sentiment could continue to be driven by Zuck's enthusiasm around the Metaverse. Markets may be impacted by commentary about the economy and Meta Platforms' layoffs.
In 2021, she became the first person to head the White House Council of Economic Advisors, Federal Reserve, and US Treasury Department at the same time. The Secretary of the Treasury is named Janet. A person with a net worth of $20 million is an ardent fan of cool rocks.
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She has always been a dove in the economy. She said that high inflation wouldn't last long because it wasn't a result of the incentives.
She believes that the US won't go into a recession. Market sentiment could be lifted by the end of the Russia-Ukraine Conflict.
8 - Changpeng Zhao
The founder and CEO of the exchange wants to bridge the gap between the two currencies. The largest exchange in the world, with a daily trade volume of over $9 billion, has become free of competition after the FTX fiasco.
The Chinese-born math whiz was interested in buying FTX. He narrowly escaped the turbulence as FTX crashed. The wealthiest people in the world have a net worth of $13 billion, according to the billionaires index.
Marry Barra is the first woman to run one of the three biggest auto companies in the US. GM has invested billions of dollars in electric vehicles, self-driving cars, and the ride-share service Maven under her guidance.
The net worth of the man is $94 million. She wants to double General Motor's revenues to $280 billion by the end of the decade by selling 1 million electric cars.
6 - Christine Lagarde
The head of the International Monetary Fund and President of the European Central Bank is a woman. She assumed office in November of last year and has had a difficult time.
The energy crisis resulted in double-digit inflation in the Eurozone. The euro fell below the US dollar for the first time in two decades after Lagarde decided to curb inflation with interest rate hikes.
Despite raising interest rates and easing asset purchases, she hasn't been able to prevent a bond market crisis. Inflation in the Eurozone has not peaked out yet according to Lagarde.
5 - Jerome Powell
The Fed chief has the power to move markets whenever he announces the country's monetary policy. He has a net worth of $50 million. Recessionary fear was caused by Powell's stance on inflation.
The pace of hikes may be less aggressive in the years to come. Powell said in his last press conference that he was looking at a price-gauge across the service sectors as the labour markets hold the key to understanding inflation.
4 - Joe Biden
Biden defeated Donald Trump in the US Democratic Presidential elections in late 2020. The S&P 500 lost 20% of its value last year.
The worst year for the financial markets was during Herbert Hoover's Presidency. Biden announced the largest-ever release from the Strategic Petroleum Reserve. The price of oil fell in 2022. The aim of Biden is to lead global oil supply.
The Democratic Party is facing an unprecedented challenge of historically high inflation which could affect the US dollar and equity markets.
3 - Xi Jinping
The President of the People's Republic of China, dubbed as the "Emperor of Everything", was initially declared a prince when he first got elected.
The leader of the world's most populated country was given the power to hold the chair for the rest of his life. He is known for his slogan "Chinese Dream", which means "road to rejuvenation" in Chinese.
It seems that the Chinese Dream has come true, with a net worth of over one billion dollars. The Chinese market has lost billions of dollars due to the US-China trade war and China's zero-covid policy.
2 - Vladimir Putin
The President of the world’s 11th largest economy, Putin has been the premier of Russia since 1999 and has almost always been elected by a large majority (76% in 2018). In 2020, Putin signed an executive order for amending the Russian Constitution to allow him to run for another two six-year terms.
Putin made a full-scale invasion of Ukraine. The war resulted in sanctions against Russia and oil shortages. In the worst year since 2008, the Russian stock market crashed after the sanctions were put in place.
This caused a major energy crisis across Europe. The euro reached parity with the US dollar after Putin invaded Ukraine. Food shortages have been caused by it.
If labour shortages and import restrictions continue, the Bank of Russia could raise interest rates. Russia's central bank has kept its interest rate low. Financial markets around the world could be lifted by the end of the war with Ukraine.
1 - Elon Musk
The CEO of Musk's companies stays in the news. Musk is in charge of product design, engineering and global manufacturing.
Just a few hours after changing his bio to #bitcoin, Musk's share price went up 20%. He suggested in the middle of the year that he had fallen out of love with it. The price of the coin fell to its lowest point in more than a year. Musk had an effect on Doge coin as well.
The price of Doge coin went up more than 300% in four hours after he wrote about it. The CEO of the company grabbed the attention with his purchase of the social networking site. However, shareholders of the company were concerned that the boss was distracted by the social media site.
This sentiment pushed shares of Tesla lower by more than 50% over the past six months. Tesla’s fate could create opportunities for other EV markets in the US and China. Musk’s tweets may also continue to cause ripples in the cryptocurrencies.
We’ve had a stormy start to 2023 and it could be another turbulent year for the financial markets. Contentworks Agency is the leading content marketing agency for the finance space. Talk to us about content for your bank, forex broker or fintech.
This article was written by Charlotte Day – Creative Director, Contentworks Agency
Charlotte is a content marketing strategist heading up social media and storytelling at Contentworks Agency. A content marketing thought leader, she has 1000+ articles published, guest writes for leading social media hubs and frequently speaks at events.