The world’s richest 500 people added $1.5 trillion to their combined net worth in 2023, according to Bloomberg’s Billionaires Index.
Their fortunes recovered and more from the $1.4 trillion lost in 2022.
Entrepreneur Elon Musk, who is the CEO of Tesla Inc (NASDAQ:TSLA) and SpaceX, regained the title of “world’s richest person” from luxury goods giant Bernard Arnault, adding $95.4 billion to his net worth as of Thursday’s stock market close. Musk’s net worth now tops $50 billion.
Arnault added more than $70 billion to his net worth during the year, as did Amazon.com Inc (NASDAQ:AMZN, ETR:AMZ) founder Jeff Bezos.
The CEO of Meta Platforms Inc (NASDAQ:FB), Facebook and Instagram’s parent company, Mark Zuckerberg gained $80 billion.
French businesswoman and L’Oreal heiress Bettencourt Meyers became the first woman to amass a fortune of $100 billion.
She added 40% to her net worth this year as shares of L’Oreal hit a record high.
On the other hand, Indian billionaire Gautam Adani lost $37.3 billion this year after the Adani Group was targeted by short-seller Hindenburg Research.