Elon Musk’s wealth surged by nearly $36 billion overnight from Wednesday to Thursday due to the massive leap in Tesla’s stock price on the New York Stock Exchange.
Other billionaires also saw their fortunes skyrocket thanks to significant gains in the stock markets following President Donald Trump’s temporary suspension of numerous import tariffs.
These rebounds helped mitigate some of the enormous losses that these billionaires had previously sustained due to the White House’s trade war.
Trump’s announcement on Wednesday sparked euphoria on Wall Street, with substantial increases in the three main stock indices. According to Bloomberg News calculations, the world’s richest individuals collectively gained $304 billion, marking the largest daily increase ever recorded by Bloomberg.
Tesla shares soared by 23% on Wednesday, bringing Elon Musk’s fortune to approximately $326 billion, making him the richest person on the planet.
Amazon’s founder, Jeff Bezos, saw his net worth rise by $18.5 billion to reach $210 billion. Mark Zuckerberg, CEO of Meta, the parent company of Facebook, increased his wealth by nearly $36 billion to a total of $207 billion.
Other renowned billionaires like Warren Buffett, Larry Ellison, and Bill Gates also experienced increases in their fortunes.
However, the New York stock markets appeared poised to open lower again on Thursday, which could potentially lead to a renewed decrease in these billionaires’ wealth.
