US billionaires earn 59 billion dollars in one day; Bezos, Page and Musk, the most benefited

The billionaires technology from the United States they just had their best day, adding $59 billion to their fortunes after Thursday’s stock market rally.

Jeff Bezos was the biggest gainer among those listed on the Bloomberg Billionaires Index, increasing his net worth by $10.5 billion following news that his successor at Amazon, Andy Jassy, ​​is looking at ways to cut costs. That sent Amazon shares up 12 percent, the most since February.

In the meantime, Larry Page, co-founder of Alphabet, posted a raise of $5.3 billion, while former Microsoft CEO Steve Ballmer earned nearly $6 billion. Elon Musk, which is splitting its time between newly acquired Twitter and Tesla, added $9.6bn as shares in its electric vehicle maker rose.

The S&P 500 rose 5.5 percent and the Nasdaq 100 rose 7.5 percent after the release of data showing U.S. inflation cooled in October more than expected, raising bets the Federal Reserve may back down on its aggressive interest rate hikes. Tech stocks, which have been hit hard this year, led the rally.

That’s good news for 32 US Tech Billionaires on the wealth list, they generally made their fortunes through the companies they founded. About 80 percent of the Bezos net worth of 120 billion comes from his holdings in Amazon. But even with one day’s big win, Bezos’s wealth has fallen by almost 73 billion this year amid the broader slump in tech stocks.

The Bloomberg index tracks the wealth of the world’s 500 richest people, who collectively added $168 billion to their fortunes on Thursday, the fourth-highest total on record.

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US billionaires earn 59 billion dollars in one day; Bezos, Page and Musk, the most benefited