"Elon Musk, already the world's richest man, has again proved to be one of biggest winners as the AI gold-rush has pushed US stock markets to record highs. Musk's net worth increased by nearly 50% year-on-year to $645bn. The tycoon, whose business interests include xAI, an artificial intelligence company, became the first person to have a net-worth of more than $500bn in October this year. He could become the world's first trillionaire if he hits targets set by Tesla, the electric car company he runs."
"A stock market boom in artificial intelligence companies has added more than half a trillion dollars to the wealth of America's tech barons in the past year, data shows. The top 10 US founders and bosses of some of the world's largest technology companies saw their finances swell to nearly $2.5tn, up from $1.9tn, in the year to Christmas Eve, according to figures from Bloomberg."
"The chief executive of the chipmaker Nvidia, Jensen Huang, was also one of the biggest gainers. The value of his investments, equity and other assets rose $41.8bn, taking his personal fortune to $159bn. This puts him ninth in the overall Bloomberg Billionaire Index, and eighth among the top 10 US tech billionaires, according to a separate report from the Financial Times."
A stock market boom in artificial intelligence companies added more than $500bn to the wealth of America's top tech founders over the year to Christmas Eve. The top 10 US founders and bosses saw combined wealth rise from $1.9tn to nearly $2.5tn. Elon Musk's net worth rose nearly 50% to $645bn, with xAI interests and potential Tesla targets positioning him to become the first trillionaire. Larry Page is estimated at $270bn and Jeff Bezos at $255bn. Nvidia chief Jensen Huang gained $41.8bn to $159bn and sold nearly $1bn in shares. Nvidia reached a $5tn market value, driven by chips critical for advanced AI processing. Growing wealth concentration has renewed calls for more effective wealth taxes to rebalance economies.
Read at www.theguardian.com
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