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.

  • realitaetsverlust@piefed.zipEnglish
    2·
    4 hours ago

    That’s not how wealth works. Wealth is not a representation of money, but money is a representation of wealth. Printing money doesn’t create wealth, it just makes the representation of wealth worth less. The implication that wealth has to be “taken away” from something or someone is just straightup wrong because that would imply the world has not gained any wealth ever, which would be a stupid assumption. Wealth is created by work and innovation - that’s why the materials inside a smartphone are worth significantly less than the entire smartphone.