The super rich are a whole lot richer than they were two months ago. Twenty five of the wealthiest people on Forbes’ list of the world’s billionaires are worth a whopping $255 billion more than when the U.S. stock market hit a mid-pandemic low on March 23.
Together these 25 folks–Forbes looked at just those on the list with fortunes tied to public stocks–are worth nearly $1.5 trillion, which is about 16% of the total wealth held by the world’s billionaires.
Facebook CEO Mark Zuckerberg is the biggest dollar gainer among this rarified group. Facebook shares surged nearly 60% over the past two months, hitting a record high on Friday May 22. Investors responded positively to the Wednesday debut of Shops, Facebook’s effort to host digital storefronts for small business owners. Zuckerberg, now worth $86.5 billion, has become the fourth-richest person in the world, up from the No. 7 richest on Forbes’ 2020 list of the World’s Billionaires, published in early April. The 36-year-old is now richer than Warren Buffett, Inditex founder Amancio Ortega and Oracle cofounder Larry Ellison.
Categories: Economics/Class Relations