High-profile billionaires including Elon Musk, Jeff Bezos, and Bill Gates witnessed substantial gains totalling $115 billion in their stock portfolios in November.
According to a report by Forbes, the cumulative fortunes of the world’s top ten wealthiest individuals experienced an impressive uptick of nearly $115 billion, marking a remarkable 9% increase.
This surge was primarily fueled by the appreciating values of diverse stocks, encompassing notable companies like Tesla and Alphabet.
As of December 1, Forbes indicates that the combined net worth of the world’s top 10 richest individuals stands at a noteworthy $1.44 trillion, showcasing a significant rise from the $1.32 trillion recorded just a month prior.
It is worth noting that the entirety of the top ten wealthiest individuals as of December 1 is comprised of male figures, each boasting a net worth exceeding $100 billion.
What you should know
Elon Musk, the CEO of Tesla and currently the world’s wealthiest person, experienced the most significant gain in the past month, with a nearly 17% surge in Tesla’s stock price, propelling his fortune to $245 billion—a $28 billion increase.
For a significant portion of 2023, French luxury magnate Bernard Arnault held the title of the world’s richest person. However, Elon Musk reclaimed the top spot on June 8, 2023.
As of December 1, Arnault maintains the second position, with an estimated net worth of $191 billion, up from nearly $178 billion at the beginning of November. Arnault, serving as the CEO and chairman of LVMH, has cultivated the conglomerate into a powerhouse with over 70 renowned brands.
Among the top ten billionaires, software tycoon Larry Ellison of Oracle experienced the second-highest gain in November, with a $15.6 billion increase in his net worth.
This surge was propelled by a nearly 10% rise in Oracle shares. Ellison currently holds the fourth position, with a net worth of $146 billion, trailing Amazon founder Jeff Bezos by approximately $22 billion.
The fortunes of Microsoft co-founder Bill Gates (ranked No. 6) and former CEO Steve Ballmer (No. 8) were also boosted in November, thanks to a nearly 10% surge in Microsoft shares.
Gates, having diversified a significant portion of his Microsoft stock, additionally contributed tens of billions of Microsoft shares to The Bill & Melinda Gates Foundation.
Since 1987, Forbes has meticulously monitored the world’s billionaires, with this year’s annual list featuring 2,640 individuals.
