Led by Musk, world’s ultrawealthy gained $1.5 trillion in 2023
1 year ago

Led by Musk, world’s ultrawealthy gained $1.5 trillion in 2023

LA Times  

It was a comeback year for the world’s wealthiest. The combined net worth of the 500 richest people surged by $1.5 trillion in 2023, fully rebounding from the $1.4 trillion lost the year prior, according to the Bloomberg Billionaires Index. His net worth is now more than $50 billion above Arnault’s after a global slowdown in demand for luxury goods dented shares of LVMH Moet Hennessy Louis Vuitton. Amazon.com Inc. founder Jeff Bezos added more than $70 billion to his wallet this year and is now neck and neck with Arnault for second place, and Meta Platforms Inc. CEO Mark Zuckerberg’s fortune jumped by more than $80 billion. Indian billionaire Gautam Adani lost $21 billion on Jan. 27 alone — and $37.3 billion across the whole year — after short seller Hindenburg Research tanked the value of Adani Group.

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