Trilion-dollar fortunes of the world's top three wealthiest people consolidated
The world of technology has seen a significant shake-up in wealth distribution, with Elon Musk, Larry Ellison, and Mark Zuckerberg leading the pack as the three wealthiest individuals. According to recent reports, their combined net worth stands at an impressive $1.03 trillion.
Elon Musk, the visionary behind companies such as Tesla, SpaceX, and Twitter, holds a net worth of $419 billion. His portfolio also includes a substantial 13% stake in Tesla and a controlling 42% of SpaceX. Musk's fortune has been on the rise, largely due to investor optimism surrounding artificial intelligence's potential to reduce corporate costs and enhance profitability. In fact, Tesla shares rebounded in premarket trading, as reported by "our publication Daily".
Musk's vision for the future economy extends beyond traditional business models, with a focus on the use of humanoid robots.
Larry Ellison, co-founder of Oracle, has seen his wealth surge by nearly double this year, reaching $349 billion. The surge can be attributed to Oracle's stock soaring over 75% since January 1, and a further 43% climb in a single day last week, driven by projected rapid revenue growth fueled by AI demand.
Meanwhile, Mark Zuckerberg's net worth stands at $265 billion. His wealth has increased thanks to Meta's 29% gain, which has fueled his growth. Zuckerberg holds a 13% stake in Meta, the parent company of Facebook and Instagram.
The 17 members of the $100 billion club have collectively added a net $434 billion to their joint fortunes this year, boosting their combined wealth to $3.2 trillion. Despite Musk's fortune decreasing by $14 billion year-to-date, he remains a formidable force in the tech industry, with his vision for the future shaping the trajectory of innovation.
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