Key facts
- The world's 500 wealthiest individuals added a record $336 billion to their fortunes in a single day.
- The collective net worth of these individuals reached a new high of $13.3 trillion.
- Elon Musk's net worth increased by over 10% to $1.27 trillion.
- SpaceX's market value surged 20% after its public debut, driving a significant portion of Musk's gain.
- The Dow Jones Industrial Average hit a record, and the Nasdaq 100 and MSCI World Index closed near their all-time highs.
The world's 500 wealthiest individuals experienced a record-breaking day on Monday, June 15, adding a combined $336 billion to their fortunes. This surge brought their collective net worth to a new high of $13.3 trillion, according to the Bloomberg Billionaires Index.
Elon Musk, identified as the world's first trillionaire, significantly extended his lead, with his net worth rising more than 10% to $1.27 trillion. The substantial increase in Musk's wealth was largely attributed to the market's reaction to SpaceX's public debut, which saw its market value jump 20%.
This rally in wealth was fueled by buoyant global markets. The Dow Jones Industrial Average closed at a record high, while the Nasdaq 100 and the MSCI World Index also finished near their all-time peaks. Market optimism was reportedly boosted by an interim deal between the US and Iran to reopen the Strait of Hormuz.
The Bloomberg Billionaires Index also highlighted the growing concentration of wealth at the very top, with the top 50 individuals now controlling $6.5 trillion, nearly matching the $6.8 trillion held by the remaining 450 individuals on the list. The entry bar for the index also rose, with the least wealthy individuals on the list each holding $7.9 billion.