The combined net worth of the world’s richest people has risen by a record $304 billion, as stock markets surged after US President Donald Trump put a hold on massive tariffs on some countries, Bloomberg reported.
The S&P 500 index rose by its most since 2008 after Trump’s decision, boosting the fortunes of the world’s 500 richest people by an average of 3.5%. The Nasdaq Composite index also rebounded, posting its biggest gain in more than 24 years.
The total wealth gain for billionaires surpassed the previous record of $233 billion set in March 2022.
Tesla Inc. CEO Elon Musk had the biggest individual gain, adding $36 billion as the electric carmaker’s shares rose 23%.
Mark Zuckerberg (Meta)’s fortune increased by almost $26 billion, Jensen Huang (Nvidia Corp.) – by $15.5 billion.
