Ronaldo, on Monday, June 14, 2021, in a clip that has since gone viral on social media, swapped a bottle of Coca-Cola for water. This happened as the soccer star sat down for a press conference at the European Championship.

Just before the media parley, he pushed aside two Coca-Cola bottles placed in front of him, after which he said “Água,” a Portuguese word. He, thereafter picked up a bottle of water and seemingly encouraged others to do the same. “No Coca-Cola,” he added.

What you should know

• Ronaldo is a renowned health fanatic; his action against Coca-Cola at the media parley was a clear indication of what he thinks of the carbonated soft drink brand.
• Coca-Cola is one of the official sponsors of the ongoing tournament, Euro 2020.
• Almost immediately after the swapping of Coca-Cola bottles for water, the beverage company’s share price dropped from $56.10 to $55.22, representing a 1.6% dip.
• In a similar fashion, the market value of Coca-Cola plummetted from $242 billion to $238 billion, representing a drop of $4 billion.

This incident, however, highlights the influence of certain individuals on a brand or business ecosystem as the case may be.

Understanding starpower

One would wonder what Elon Musk, Don Jazzy, and Wizkid all have in common with Ronaldo who by a simple gesture made one of the world’s most popular beverage drinks record billions of dollars loss, in a matter of minutes. But in all fairness, they’ve all been endorsers or spokespersons for brands or causes.

The aforementioned superstars are authorities in their fields, hence their influence and affluence on consumers. This alone is what determined investors’ confidence in any given situation.

As also seen in the case of Musk, a South-African-born American billionaire, who with a single tweet disrupted the cryptocurrency industry.

Unmask NG would recall that on Thursday, May 13, 2021, the cryptocurrency sector suffered a massive blow, after the Tesla founder suspended the purchase of his electric vehicle products with bitcoin. Following the suspension announcement, billions of dollars were wiped out from the cryptocurrency market, leaving investors and traders in panic.

As at the time Musk made the announcement, the value of the whole cryptocurrency market stood at around $2.43 trillion. This was according to data from Coinmarketcap.com.

The market capitalisation first dropped to around $2.06 trillion, wiping off around $365.85 billion.

An expert’s view

Sharing his sentiment on how starpower can disrupt a business ecosystem, Charlie Higgs, an analyst at Redburn, Europe’s largest independent equities broker, stated: “Aligning brands with celebrities is a tried and tested way of recruiting new consumers, but it comes with added risk. This risk is persistent and larger now than ever before thanks to the prevalence of social media.”

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Musk secured second place on the billionaires’ list after his net worth jumped to $128 billion. According to Bloomberg Index, Musk overtook Gates after shares in his car firm surged. Although, he (Musk) is behind Amazon’s boss, Jeff Bezos who is the richest man in the world with $182 billion net worth.

Below is a list of top ten billionaires on the Bloomberg index

• Jeff Bezos -$183 billion,
• Elon R Musk -$136 billion
• Bill Gates $129billion
• Bernard Arnault $105 billion
• Mark Zuckerberg $105 billion
• Warren Buffett $88.4 billion
• Larry Page $82.7 billion
• Sergey Brin $80.1 billion
• Steve Ballmer $77.4 billion
• Mukesh Ambani $74.9 billion

Elon Musk’s wealth portfolio

Elon Musk is a billionaire with many businesses across different chains of the global economy. Amongst his multiple businesses are -SpaceX, Tesla, OpenAI, Neuralink, and The Boring Company.

Musk’s journey to greatness however started in 1997, when he founded Zip2. After some years, he then proceeded to acquire PayPal. And having secured the PayPal acquisition in 2002, Musk advanced his acquisitions, thereby becoming the founder of SpaceX and Tesla.

Speaking on how he amassed his wealth in an interview with Bloomberg, he said he’s addicted to putting his money to work.

“I build sports cars. Use that money to build an affordable car. Use that money to build an even more affordable car. While doing above, I also provide zero-emission electric power generation options,” the billionaire was quoted as saying.

As it is, Musk doesn’t seem to be approaching peak anytime soon, as he hinted that self-driving Tesla cars will become the next big game-changer in the automaker industry.

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