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Home People Billionaire Watch

US Tech Boom: 7% increase in valuation as 2 fresh billionaires cross the $100bn mark

Michael Ndu-Okeke by Michael Ndu-Okeke
May 5, 2021
in Billionaire Watch
US Billionaires earn $1.3 trn during the pandemic while 80 million lost their jobs

Google Founders, Sergey Brian and Larry Page

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The Tech world witnessed a recent boom, sending two new members into the 100bn elite club. The Tech billionaires are smiling to the bank as the American economy shows early signs of recovering from the pandemic.

As of this morning, the Bloomberg Billionaires Index features 8 billionaires with a net worth of over $100bn. The latest additions are Google founders Sergei Brin and Larry Page who according to Bloomberg are the biggest earners in the Tech niche since last year.

The duo added a whopping $20bn to their wealth each since last year making them the biggest gainers on the list. The total number of billionaires in the $100bn club has now risen to 8.

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READ: How Kanye West became the richest black American with $6.6 billion net worth

Reason for wealth explosion 

Optimism has returned to the US stock markets as the world economy slowly eases into the post-pandemic era. The tech department of the NASDAQ witnessed a 7% increase according to Bloomberg due to the online surge caused by the pandemic.

READ: Google founders earn $42 billion in 100 days

What you should know 

  • 8 of the current top 10 richest men in the World are all United States Tech billionaires.
  • The combined wealth of the world’s richest eight people has crossed the $1 trillion mark and they collectively added about $110bn to their wealth in a single year.

Follow us for Breaking News and Market Intelligence.
Tags: GoogleLarry PageSergei Brin
Michael Ndu-Okeke

Michael Ndu-Okeke

I am Michael Ndu-Okeke, a crypto reporter and analyst covering the intriguing world of Cryptocurrencies and its market. My work focuses on informative news, industry trends and research explaining the crypto industry to a wide range of readers.

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