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Today β€” 7 January 2025Main stream

Mark Zuckerberg and Jensen Huang jointly became $28 billion richer in 3 days as AI buzz reignites

7 January 2025 at 04:46
Collage of Jensen Huang on the left wearing a black leather jacket and Mark Zuckerberg on the right wearing a white t-shirt
Nvidia CEO Jensen Huang and Meta CEO Mark Zuckerberg keep adding to their net worth.

Getty Images

  • Mark Zuckerberg and Jensen Huang have jointly become $28 billion wealthier this year.
  • Meta and Nvidia shares surged during the first three trading days of 2025 on fresh AI excitement.
  • Zuckerberg and Huang's combined wealth rose by almost $150 billion in 2024.

Mark Zuckerberg and Jensen Huang have jointly grown $28 billion richer in just the first three trading days of this year, meaning they're worth $350 billion combined β€” more than Bank of America.

The Meta CEO has gained about $15 billion this year, while the Nvidia CEO's wealth has risen by about $13 billion. Their flying start has made them the biggest wealth gainers on the Bloomberg Billionaires Index so far in 2025, but other big names in tech aren't far behind.

Former Binance CEO Changpeng Zhao was up about $12 billion at Monday's close, followed by Amazon founder Jeff Bezos with an $8 billion increase, and Alphabet cofounders Larry Page and Sergey Brin, up about $6 billion each. Tesla and SpaceX CEO Elon Musk was next on the list at $5 billion in the green.

Zuckerberg and Huang's combined gain of $28 billion accounts for nearly half of the net $61 billion increase for the world's 20 richest people in 2025. The pair's wealth jump reflects a nearly 8% advance in Meta stock and an 11% rise for Nvidia this year.

Meta shares benefited from Wall Street analysts raising their price targets. Nvidia climbed on signs of strong demand for microchips and anticipation for Huang's keynote speech at the Consumer Electronics Show in Las Vegas on Monday.

The Nvidia chief revealed new chips and a $3,000 AI supercomputer named Digits. He also announced partnerships in robotics, self-driving cars, and more independent or "agentic" AI.

Zuckerberg and Huang's personal fortunes grew by about $79 billion and $70 billion respectively last year, trailing only Elon Musk's $203 billion gain by Bloomberg's estimates.

The world's 20 richest people grew a combined $702 billion wealthier last year, lifting their net worth to above $3 trillion β€” a figure that rivals Microsoft's market value of $3.2 trillion.

Tech leaders including Meta, Nvidia, Tesla, Amazon, and Alphabet have surged in recent years, supercharging the wealth of their biggest shareholders, as investors bet they'll play pivotal roles in the AI revolution and capture a big chunk of the profits generated.

Read the original article on Business Insider

Before yesterdayMain stream

Elon Musk, Jeff Bezos, and 8 other tycoons got $500 billion richer in 2024 — and are now worth more than $2 trillion

2 January 2025 at 04:09
Musk Zuckerberg Bezos
Elon Musk, Mark Zuckerberg, and Jeff Bezos all became a lot richer last year.

Scott Olson/Getty/Mark J. Terrill/AP/Drew Angerer/Business Insider Composite

  • The world's 10 wealthiest people added more than $500 billion to their combined fortunes in 2024.
  • The top 20 gained $700 billion and ended the year with a total worth above $3 trillion.
  • Elon Musk scored a huge $203 billion gain, but other tech bosses also notched up big rises.

The richest people on the planet saw their fortunes surge in 2024 as the artificial intelligence boom, the Federal Reserve's interest rate cuts, Donald Trump's election victory, and a robust economic outlook helped the stock market to roar.

The world's 10 wealthiest people grew more than $500 billion richer last year, boosting their combined net worth to just over $2 trillion β€” not far off the $2.3 trillion market values of Amazon and Google owner Alphabet.

Widen the lens to the top 20 names on the Bloomberg Billionaires Index, and the total net worth jumped $700 billion to above $3 trillion by the year's end, rivaling Microsoft's $3.1 trillion market value.

Tesla and SpaceX CEO Elon Musk led the pack with a $203 billion gain for the year, which lifted his personal fortune to $432 billion at the market close on December 31.

His net worth briefly touched $486 billion a couple of weeks earlier after Tesla stock surged to a record high and SpaceX's valuation leaped to $350 billion. At that point, his year-to-date gain of $257 billion exceeded the entire net worth of Jeff Bezos, no.2 on the rich list.

However, Musk wasn't the only one to notch huge wealth gains in 2024. Meta CEO Mark Zuckerberg, Nvidia boss Jensen Huang, Oracle cofounder Larry Ellison, and Bezos all grew between $60 billion and $80 billion wealthier as their respective companies surged in value.

Other Big Tech luminaries scored big gains too with Michael Dell, the founder of the eponymous computer maker, adding $45 billion to his fortune. Google cofounders Larry Page and Sergey Brin added $42 billion and $38 billion to their respective fortunes.

Tech leaders accounted for most of the wealth gains, but Walmart founder Sam Walton's three surviving heirs β€” Jim, Alice, and Rob β€” each grew more than $38 billion richer, thrusting the trio into the $100 billion club for the first time.

Warren Buffett, whose Berkshire Hathaway conglomerate owes scores of businesses like Geico and huge stakes in public companies like Coca-Cola, also gained $22 billion and ended the year on $142 billion.

Not everyone's a winner

There were a few wealth losers among the uber-wealthy, however. LVMH founder and CEO Bernard Arnault saw his fortune shrink from over $230 billion at its peak in March to $176 billion by the end of December, sending him from first place to fifth.

Indian industrialist Mukesh Ambani, Mexican telecoms mogul Carlos Slim, Indian infrastructure tycoon Gautam Adani, and L'Oréal heiress Françoise Bettencourt Meyers all lost money last year by Bloomberg's estimates.

Françoise Bettencourt Meyers sits on a chair in an outdoor garden.
Françoise Bettencourt Meyers pictured in 2010.

MARTIN BUREAU/AFP via Getty Images

The superrich mostly got wealthier because excited investors wagered the likes of Nvidia, Tesla, and Microsoft would post higher profits by playing key roles in the AI revolution.

The Fed also made its first cuts to rates after hiking them to curb runaway inflation in 2022 and 2023. That has benefited stocks by making them relatively more appealing versus fixed-income assets such as government bonds, and could boost corporate profits by encouraging spending and borrowing.

Trump's win in November pushed stocks higher too, as the former president had run on promises of pro-growth policies such as tax cuts and deregulation. Tesla in particular gained as investors bet Musk's close ties to the future president would benefit the automaker.

Read the original article on Business Insider

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