The top richest people in the world accumulated around $852 billion to their collective fortunes till the first half of 2023. The 500 of the world’s top billionaires had a bumper start to 2023, thanks to a broad market rally. The top richest people in the world as per the Bloomberg Billionaires Index made an average of $14 million per day over the past six months. It was the best half-year for world’s top billionaires since the second half of 2020, when the economy rebounded from a COVID-induced slump.
Best ever first half 2023
The gains coincided with a broad stock market rally, as investors brushed off the effects of central bank interest rate hikes, the ongoing war in Ukraine and a crisis in regional banks. Tech stocks, in particular, were on a tear in the first half of 2023 on the back of the generative artificial intelligence boom. The tech focused Nasdaq 100 is up 31% this year. The rally benefited tech tycoons Elon Musk and Mark Zuckerberg, the biggest winners in the index this year. The S&P 500 rose 16% and the Nasdaq 100 surged 39% for its best-ever first half as investor mania over artificial intelligence boosted tech stocks.
The top richest people in the world made an average of $14 million each day in the first half of 2023 as markets rallied adding $852 billion to their collective fortunes in the first half of this year, per Bloomberg.
Tesla Inc.’s CEO, came out on top becoming the world’s richest person will a fantastic rally of his Tesla stock. Musk, added $96.6 billion to his net worth making him the world’s richest man in 2023, while Meta Platforms Inc. CEO Zuckerberg gained $58.9 billion also one of the world’s richest man in 2023.
Tesla and SpaceX CEO, Elon Musk is the top winner as his wealth jumped by $97 billion to $233 billion. The world’s top billionaires’ wealth was boosted on the back of a broad market rally.
World’s richest person
One of the top richest people in the world Musk, the CEO of Tesla and SpaceX saw his wealth soar by almost $97 billion through June 30, per Bloomberg. Now worth $237 billion, Musk is the world’s richest person ahead of Frenchman Bernard Arnault, the CEO, and co-founder of LVMH Moët Hennessy Louis Vuitton.
Musk and Arnault have been swapping positions as the world’s richest person since late 2022.
Meanwhile, Zuckerberg added nearly $60 billion to his net worth this year, following a nearly 80% rise in Meta’s stock price amid the tech giant’s “year of efficiency” making him one of the world’s richest man in 2023.
Fortune tanked for few
Not every of the world’s top billionaires saw bumper returns on their wealth, though being in the top richest people in the world.
Indian tycoon Gautam Adani’s fortune tanked by $60.2 billion this year, making him the biggest loser in the Bloomberg Billionaires Index. On January 24, Adani’s wealth depreciated after U.S. short-seller Hindenburg Research alleged in a savage report that the Adani Group “engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.” Adani has denied those claims.
Hindenburg, founded by Nate Anderson, also knocked down the net worth of another billionaire: Carl Icahn. His Icahn Enterprises LP had its steepest one-day drop after Hindenburg disclosed it was shorting the shares, saying the stock was significantly overvalued relative to its holdings. Icahn’s net worth fell $13.4 billion, or 57%, the largest percentage drop of any member of the Bloomberg Billionaires Index in the period.
Stock gains
Elon Musk’s wealth gains spilled over into July as Tesla shares climbed 6.9% on Monday in New York, tacking on an additional $13 billion to his fortune, solidifying his position as the world’s richest person.
The S&P 500 closed 0.12% higher at 4,455.59 on Monday. The Nasdaq 100 closed 0.2% higher at 15,208.69.
