World’s Richest People Experience $852bn Wealth Boost Amidst Stock Market Rally

  • The 500 richest people globally saw an addition of $852bn to their fortunes in H1 2023, with Bloomberg Billionaire Index members making an average of $14m per day.
  • This wealth surge, the best since H2 2020, coincided with a broad stock market rally despite interest rate hikes, the Ukraine war, and regional banking crises. The S&P 500 rose 16%, and the Nasdaq 100 surged 39%.
  • While Elon Musk’s wealth grew with Tesla shares rising 6.9%, Gautam Adani lost $60.2bn, and Carl Icahn lost $13.4bn due to stock manipulation and overvaluation accusations respectively.
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