New Delhi (04/07/2023): In the first half of 2023, the world’s 500 wealthiest people added $852 billion to their fortunes.
According to Bloomberg data, each member of the Bloomberg Billionaires Index earned an average of $14 million each day over the last six months. It was the strongest half-year for billionaires since the second half of 2020, when the economy recovered from the effects of Covid.
The gains occurred in tandem with a global stock market surge, as investors ignored the effects of central bank interest rate hikes, the ongoing war in Ukraine, and a regional bank crisis. The S&P 500 gained 16%, while the Nasdaq 100 gained 39% for its best-ever first half, thanks to investor enthusiasm for artificial intelligence.
While Elon Musk and Mark Zuckerberg debate organising a cage bout, Tesla Inc.’s CEO came out on top in dollar terms. Musk, the world’s richest individual, increased his net worth by $96.6 billion this year through June 30, while Meta Platforms Inc. CEO Zuckerberg increased his net value by $58.9 billion.
Gautam Adani’s net worth dropped the most in the last six months, losing $60.2 billion. Adani, the chairman of Adani Group, also suffered the largest one-day loss of any billionaire, losing almost $20.8 billion on Jan. 27, after short seller Hindenburg Research accused his conglomerate of accounting fraud and stock manipulation, which Adani disputes and strongly negates.
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