The world's 500 richest people increased their wealth by $852 billion in the first half of 2023. Elon Musk earned $96.6 billion, Mark Zuckerberg - $58.9 billion.
This is reported by Bloomberg.
Each member of the Bloomberg Billionaires Index earned an average of $14 million a day over the past six months. It was the billionaires' best half-year since the second half of 2020, when the economy rebounded from the COVID-induced downturn.
The gains coincided with a broad stock market rally as investors shrugged off the effects of the central bank's interest rate hikes, Russia's war against Ukraine and the ongoing crisis in regional banks. The S&P 500 surged 16% and the Nasdaq 100 soared 39% in its best-ever first half, as investor mania over artificial intelligence boosted tech stocks.
As Elon Musk and Mark Zuckerberg plan a cage match, Tesla's CEO has come out on top in dollar terms. Musk, the world's richest man, increased his net worth by $96.6 billion this year through June 30, while CEO Meta Zuckerberg received $58.9 billion.
Losses of billionaires
Gautam Adani's net worth fell the most in six months, losing $60.2 billion. Adani, chairman of the Adani Group, also reported its biggest one-day loss, losing about $20.8 billion on January 27 after Hindenburg Research accused his conglomerate of accounting fraud and stock manipulation.
The Hindenburg company, founded by Nate Anderson, also destroyed the fortune of another billionaire: Carl Icahn. His Icahn Enterprises LP suffered a sharp one-day drop after Hindenburg said he was selling the stock, saying the stock was vastly overvalued compared to its holdings. Icahn's net worth fell $13.4 billion, or 57%, the biggest percentage drop of any member of the Bloomberg Billionaires Index over the period.
For Musk, the rise in wealth continued in July, when Tesla shares rose 6.9% in New York on Monday, adding an additional $13 billion to his fortune.
It will be recalled that in May, Elon Musk regained the title of the richest man in the world. The Tesla CEO has once again overtaken luxury goods magnate Bernard Arnault, after LVMH shares fell sharply.
