World’s 25 richest billionaires gain nearly $255 billion in just two months

Forbes

24th May, 2020 10:29:36 printer

World’s 25 richest billionaires gain nearly $255 billion in just two months

The super rich are a whole lot richer than they were two months ago. Twenty five of the wealthiest people on Forbes’ list of the world’s billionaires are worth a whopping $255 billion more than when the US stock market hit a mid-pandemic low on March 23.

Together these 25 folks, Forbes looked at just those on the list with fortunes tied to public stocks–are worth nearly $1.5 trillion, which is about 16 percent of the total wealth held by the world's billionaires.

Facebook CEO Mark Zuckerberg is the biggest dollar gainer among this rarified group. Facebook shares surged nearly 60 percent over the past two months, hitting a record high on Friday May 22.  Investors responded positively to the Wednesday debut of Shops, Facebook's effort to host digital storefronts for small business owners. Zuckerberg, now worth $86.5 billion, has become the fourth-richest person in the world, up from the No. 7 richest on Forbes’ 2020 list of the World’s Billionaires, published in early April. The 36-year-old is now richer than Warren Buffett, Inditex founder Amancio Ortega and Oracle cofounder Larry Ellison.

The second-largest gainer in dollar terms is also the world's richest man, Amazon founder and CEO Jeff Bezos. Shares of the ecommerce giant have continued on a tear amid increased demand since coronavirus shuttered physical retailers. Amazon stock is up 29 percent since March 23. As of the end of the day Friday, Bezos was worth $146.9 billion, up $30 billion and 26 percent since March 23.

The biggest percentage gainer is Colin Zheng Huang, the founder of China's second largest online marketplace (behind Alibaba), Pinduoduo. Boosted by the firm's social shopping model, in which users share purchases with friends and family, and an aggressive campaign offering subsidized deals to consumers, Pinduoduo's shares have nearly doubled since March 23, and Huang, its 40-year-old founder and CEO, has added $17.9 billion to his fortune; he's now China's third-richest person, worth $35.6 billion.

Another notable gainer: Mukesh Ambani, who became Asia's richest person in April after Facebook announced a $5.7 billion investment into Mumbai-based Reliance Jio, a telecom subsidiary of the sprawling conglomerate founded by Ambani's late father. The company has since raised loads more, including $1.5 billion from private equity giant KKR on Friday and $750 million from investment firm Silver Lake earlier this month. All told, the firm has raked in $10 billion of fresh capital in less than one month. Ambani is now worth $52.7 billion, up nearly $20 billion since the market trough.

Billionaires with net worths tied to stakes in technology companies have led the way for gains amid the pandemic. The tech-heavy Nasdaq composite index turned positive for the year earlier this month, and it's up 37 percent since March 23. The S&P 500 and Dow Jones, meanwhile, are up about 31 percent each–still down roughly 10 percent and 15 percent for the year, respectively.

Not a single top 25 fortune has fallen since March 23. The fortunes of Jim, Alice and Robert Walton, for example, grew the least percentage-wise, but they're still up $3.6 billion each. Walmart shares hit an all-time high in mid-April after the first round of stimulus checks made their way to American bank accounts, and they've managed to stay near their peak. On Tuesday, the firm reported quarterly revenue that surged almost 10% to $134.6 billion, boosted by a 74 percent increase in online sales. Combined, the three billionaire Walmart heirs are worth close to $165 billion.

The figures stand in stark contrast to those at the other end of the wealth spectrum. In the US total unemployment claims have risen to 39 million since mid-March, affecting about a quarter of the US labor force.

Here’s how much the world’s 25 richest billionaires have gained over the past two months.

The net worth change is from Monday, March 23, to Friday, May 22.

1 | Jeff Bezos

Net Worth | $146.9 Billion, Up $29.9 Billion

Country | united states

Source of wealth | amazon

Bezos stores

2 | Bill Gates

Net worth | $106.5 billion, up $11.9 billion

Country | United States

Source of wealth | Microsoft

3 | Bernard Arnault

Net worth | $94.1 billion, up $12.8 billion

Country | France

Source of Wealth | Lvmh

4 | Mark Zuckerberg

Net worth | $86.5 billion, up $31.4 billion

Country | United States

Source of Wealth | Facebook

5 | Warren Buffett

Net worth | $69.2 billion, up $6 billion

Country | United States

Source of Wealth | Berkshire Hathaway

6 | Larry Ellison

Net worth | $66.4 billion, up $10.4 billion

Country | United States

Source of Wealth | Software

7 | Steve Ballmer

Net worth | $65.4 billion, up $14 billion

Country | United States

Source of Wealth | Microsoft

8 | Larry Page

Net worth | $63.6 billion, up $14.2 billion

Country | United States

Source of wealth | Google

9 | Sergey Brin

Net worth | $61.3 billion, up $13.7 billion

Country | United States

Source of wealth | Google

10 | Amancio Ortega

Net worth | $60.5 billion, up $5.2 billion

Country | Spain

Source of wealth | Zara

11 | Jim Walton

Net worth | $55.2 billion, up $3.6 billion

Country | United States

Source of wealth | Walmart

12 | Alice Walton

Net worth | $55 billion, up $3.6 billion

Country | United States

Source of wealth | Walmart

13 | Rob Walton

Net worth | $54.8 billion, up $3.6 billion

Country | United States

Source of wealth | Walmart

14 | Francoise Bettencourt Meyers

Net worth | $54.2 billion, up $6.4 billion

Country | France

Source of wealth | L’oreal

15 | Mukesh Ambani

Net worth | $52.7 billion, up $19.9 billion

Country | India

Source of Wealth | Oil & Gas, Petrochemicals

16 | Carlos Slim Helu

Net worth | $51.2 billion, up $4.2 billion

Country | Mexico

Source of wealth | Telecom

17 | Mackenzie Bezos

Net worth | $47.8 billion, up $10.4 billion

Country | United States

Source of Wealth | Amazon

18 | Ma Huateng

Net Worth | $46.4 Billion, Up $6.8 Billion

Country | China

Source of Wealth | Internet Media

19 | Jack Ma

Net Worth | $41.3 Billion, Up $3 Billion

Country | China

Source of Wealth | E-Commerce

20 | Phil Knight

Net Worth | $37.7 Billion, Up $9.9 Billion

Country | United States

Source of Wealth | Nike

21 | Elon Musk

Net Worth | $36.7 Billion, Up $9.5 Billion

Country | United States

Source of Wealth | Tesla Motors, Spacex

22 | Colin Zheng Huang

Net Worth | $35.6 Billion, Up $17.9 Billion

Country | China

Source of Wealth | E-Commerce

23 | Francois Pinault

Net Worth | $31.8 Billion, Up $2.1 Billion

Country | France

Source of Wealth | Luxury Goods

24 | Sheldon Adelson

Net Worth | $30.7 Billion, Up $1.4 Billion

Country | United States

Source of Wealth | Casinos

25 | Michael Dell

Net Worth | $28.3 Billion, Up $3.5 Billion

Country | United States

Source of Wealth | Dell Computers


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