Why billionaire Bill Gates could hugely benefit from $1,500,000,000,000 'white gold' discovery found in supervolcano
One of the richest men in the world could be set to get a whole lot richer after an incredible discovery was made in a supervolcano.
A whopping $1.5 trillion worth of ‘white gold’ was uncovered in the McDermitt Caldera, which is located on the border between southeastern Oregon and northern Nevada.
The spot in the volcano has been dubbed as the world’s biggest lithium reservoir.
Researchers suggest that 20 million metric tons of lithium could be lurking beneath, and if fully developed, it could massively reduce the USA’s reliance on lithium imports.
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And it looks like some people could stand to profit from the discovery, with one possible person being the co-founder of Microsoft.
Bill Gates is also worth an estimated $115.9 billion but that figure could be set to go up with the new influx of lithium.
How will Bill Gates benefit from the $1.5 trillion lithium deposit?
A boom in electric vehicles
Lithium is a vital element of the batteries used for electric vehicles, which are increasing in demand as people make the switch from gas to electric.
As the EV industry continues to boom, so does the growing demand for lithium.
This could prove to be financially beneficial to Gates as he is known to have invested in companies that are focused on extracting and refining lithium.
Sustainability
The billionaire also invests in energy ventures that are focused on clean energy, which is something that would benefit from more electric vehicles on the road.
Who else will benefit?
Gates isn’t the only person who stands to gain from this incredible discovery - mogul Elon Musk will make a pretty penny too.
As the head of EV manufacturer Tesla, Musk could benefit from the lithium find because of the use of the material in Tesla batteries.
Musk’s position as the CEO of the firm has caused quite a bit of controversy in recent months after there was a reported huge 70% drop in profits.
This means that the lithium deposit might have arrived just in the nick of time for the billionaire.
Tesla currently relies on a multi-faceted lithium supply chain, although it boasts its own in-house lithium refinery based in Texas and hopes to produce 50 GWh of battery-grade lithium per year.
It’s thought that the McDermitt Caldera could have enough lithium to create up to 600 million electric vehicles, which is a big deal for American EV manufacturers, especially considering President Trump’s trade war and soaring import tariffs.