Elon Musk’s net worth increased by nearly 50% to $645bn with founders of Google and Amazon also seeing huge wealth gains

A stock market boom in artificial intelligence companies has added more than half a trillion dollars to the wealth of America’s tech barons in the past year, data shows.

The top 10 US founders and bosses of some of the world’s largest technology companies saw their finances swell to nearly $2.5tn, up from $1.9tn, in the year to Christmas Eve, according to figures from Bloomberg.

Elon Musk, already the world’s richest man, has again proved to be one of biggest winners as the AI gold-rush has pushed US stock markets to record highs.

Musk’s net worth increased by nearly 50% year-on-year to $645bn. The tycoon, whose business interests include xAI, an artificial intelligence company, became the first person to have a net-worth of more than $500bn in October this year. He could become the world’s first trillionaire if he hits targets set by Tesla, the electric car company he runs.

Musk sits ahead of Google co-founder Larry Page and Amazon founder Jeff Bezos in the overall rankings of the world’s wealthiest billionaires. Page is estimated to be worth $270bn, and Bezos $255bn.

  • givesomefucks@lemmy.worldEnglish
    12·
    15 hours ago

    Someone will pay more for a calzone than for its ingredients. More value, when distributed, becomes wealth.

    Bro…

    Do you have a magic pocket that makes money whenever you want a calzone?

    Because that’s pretty cool.

    In the real world no wealth is created. Some was moved from the calzone maker to the store for ingredients, then some other people paid more for a calzone than ingredients cost.

    No wealth was created, it was redistributed.

    If you spent $2 on ingredients and sold a calzone for $5, somebody just paid you $3 of their own dollars for you to do it.

    How the fuck did sonmany people up otw you for just completly missing the point?