The world’s top 10 billionaires have seen their combined fortune rise by $140 billion since the beginning of 2023, according to data from the Bloomberg billionaire index.
Reports reveal that the combined wealth of these billionaires is bigger than the market cap of some of America’s biggest companies.
These include companies such as AT$T which currently has a market cap of $135.93 billion, IBM which has a market cap of $121.54 billion, Boeing which has a market cap of $127.35 billion and Starbucks which currently has a market cap of $123.07 billion.
The fortune of these top billionaires is closely tied to the companies that they founded.
Investors King understands that funds and stocks are the bread and butter of investment portfolios which most of these billionaires use as investments to ensure their money continually grows.
It is interesting to note that the stock market started on a positive note in the first week of 2023, posting a positive market gain of 1.4%. Analysts at fundstart, an independent research boutique providing market strategy and sector research, revealed that the stock market saw a median gain of about 20% for the first week of the year.
Sitting in number one position on the list of top 10 billionaires in 2023 is Bernard Arnault, founder, and chief executive officer of LVMH Moet Hennessy Louis Vuitton, the world’s largest luxury goods company.
He currently has a net worth of $185 billion and is followed closely by Tesla and Twitter CEO Elon Musk who dropped to the second position and currently has a net worth of $179 billion.
Meanwhile, according to an insider report, the CEO of Berkshire Hathaway Warren Buffet is the only top 10 billionaire whose wealth declined after his company missed out on the stock market’s rally. Buffet’s net worth dropped by $529 million to $107 billion since the start of January. While Buffett is the only top-10 billionaire in the red this year, he’s still ranked fifth in the index.