• The five hundred richest individuals added $852 billion to their collective fortunes within the first half of this yr, per Bloomberg.
• Tesla and SpaceX CEO Elon Musk is the highest winner as his wealth jumped by $97 billion to $233 billion.
• The billionaires’ wealth was boosted on the again of a broad market rally.

The world’s prime 500 billionaires had a bumper begin to 2023 because of a broad market rally.

These billionaires collectively added $852 billion to their fortunes within the first half of the yr — or about $14 million every day through the interval — in accordance with Bloomberg’s calculations based mostly on its Billionaires Index.

The positive aspects mark the very best half-year for all of the billionaires on the index because the second half of 2020 when the markets rebounded from the COVID-19 pandemic, per Bloomberg.

The S&P 500 — an index that tracks a broad vary of sectors equivalent to banks, manufacturing, tech, and retail — is up about 16.5% this yr.

Tech shares, specifically, had been on a tear within the first half of 2023 on the again of the generative synthetic intelligence increase. The tech-focused Nasdaq 100 is up 31% this yr. The rally benefited tech tycoons Elon Musk and Mark Zuckerberg, the largest winners within the index this yr.

Musk — the CEO of Tesla and SpaceX and lately stepped down because the CEO of Twitter — noticed his wealth soar by nearly $97 billion by June 30, per Bloomberg. Now price $237 billion, Musk is the world’s richest particular person — forward of Frenchman Bernard Arnault, the CEO, and co-founder of LVMH Moët Hennessy Louis Vuitton.

Musk and Arnault have been swapping positions because the world’s richest particular person since late 2022. 

In the meantime, Zuckerberg added almost $60 billion to his web price this yr, following a virtually 80% rise in Meta’s inventory value amid the tech large’s “yr of effectivity.” 

However not each billionaire noticed bumper returns on their wealth.

Indian tycoon Gautam Adani’s fortune tanked by $60.2 billion this yr, making him the largest loser within the Bloomberg Billionaires Index. Adani’s wealth cratered after US short-seller Hindenburg Analysis alleged in a scathing January 24 report that the Adani Group “engaged in a brazen inventory manipulation and accounting fraud scheme over the course of a long time.” Adani has denied these claims.

The S&P 500 closed 0.12% greater at 4,455.59 on Monday. The Nasdaq 100 closed 0.2% greater at 15,208.69.