The world’s 500 richest people saw their fortunes explode by $2.2 trillion last year, a gain Oxfam claims could lift 3.8 billion people out of poverty.
The collective fortune of the world’s 500 wealthiest individuals has reached an unprecedented $11.9 trillion, following a year in which their combined net worth surged by a record $2.2 trillion.
According to the latest data from the Bloomberg Billionaires Index, the primary catalyst for this historic accumulation was the “Trump Trade.”
Donald Trump’s 2024 election victory triggered a massive rally across global equity markets, cryptocurrencies, and precious metals, providing a vast windfall for those with high-exposure portfolios.
The data reveals a stark concentration of capital at the very summit of the index. Approximately one-quarter of the total $2.2 trillion increase was captured by just eight individuals.
Elon Musk: Cemented his position as the world’s richest man, with his assets soaring by $190 billion to reach a staggering $622 billion.
Larry Ellison: The Oracle founder saw his wealth climb by $57.7 billion to a total of $249 billion.
Gina Rinehart: The Australian mining magnate proved a major winner outside of tech, nearly tripling her fortune to $37.7 billion through a strategic pivot into rare-earth metals.