Have you ever thought about how much money the world’s top 500 billionaires make every day? Well, you will be shocked to know the latest findings in this field. According to a credible source, the top 500 billionaires worldwide have been earning $14 million every day since the beginning of 2023. They had a great start to the year thanks to a broad market rally. In addition, the source indicates that these billionaires collectively earned $852 billion in the first half of the year, which is astonishing.
It is the best figure for all billionaires on the index since the second half of 2020, when the world was hit by the COVID-19 pandemic. The stock market is doing well this year, with the S&P 500 up about 16.5%. Technology stocks in particular performed strongly, driven by the growth of generative artificial intelligence. The Nasdaq 100, which focuses on tech companies, is up 31% year to date.
This has benefited technology leaders such as Elon Musk and Mark Zuckerberg, who have seen their wealth increase. Elon Musk, the CEO of Tesla and SpaceX, and former CEO of Twitter, raised nearly $97 billion in assets at the end of June. He is now the richest person in the world, surpassing Bernard Arnault, the CEO of LVMH. Elon Musk’s net worth is currently around $237 billion. It is pertinent to mention here that Musk and Arnault have been swapping titles as the world’s richest people since late 2022.
On the other hand, Facebook CEO Mark Zuckerberg made about $60 billion this year after a nearly 80% increase in Meta’s share price.
However, 2023 was not the same for ‘all’ billionaires as the net worth of Gautam Adani (Indian businessman) fell by $60.2 billion. The drop came after US short-seller Hindenburg Research accused him in a report in January that the Adani Group had been “involved in brutal stock manipulation and accounting fraud over decades”. However, Gautam Adani rejected these allegations.
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