The 10 Richest People In The World Are Worth $1.4 Trillion (The Same As Amazon!) — Here's Who Has Gained The Most In 2023
Portfolio Pulse from Chris Katje
The world's 10 richest people are now worth a combined $1.42 trillion, equivalent to the market capitalization of Amazon.com Inc. The S&P 500, tracked by the SPDR S&P 500 ETF Trust, fell 19.2% in 2022, marking its worst performance since 2008. However, stocks rebounded in 2023, increasing the wealth of the world's richest. Elon Musk, whose wealth is tied to Tesla Inc's valuation, regained his position as the world's richest person in 2023, adding nearly $90 billion to his net worth. The shares of Tesla and Meta Platforms, linked to Mark Zuckerberg's wealth, are up 127% and 142% year-to-date, respectively.
August 13, 2023 | 7:57 pm
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POSITIVE IMPACT
Meta Platforms' shares, which are linked to Mark Zuckerberg's wealth, have seen a strong performance in 2023, up 142% year-to-date.
The performance of Meta Platforms' shares directly affects the wealth of Mark Zuckerberg, the company's CEO. The significant increase in 2023 suggests a positive short-term impact on META.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust, which tracks the S&P 500, saw a 19.2% decline in 2022, marking the worst performance since 2008. However, stocks have rebounded in 2023.
The performance of SPY is directly tied to the S&P 500. The rebound in stocks in 2023 suggests a positive short-term impact on SPY.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Tesla Inc's valuation has a direct impact on Elon Musk's wealth. Despite a 69% fall in Tesla's stock in 2022, the shares have rebounded in 2023, up 127% year-to-date.
Tesla's stock performance directly affects the wealth of Elon Musk, the company's CEO. The significant rebound in 2023 suggests a positive short-term impact on TSLA.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
The combined wealth of the world's 10 richest people is now equivalent to the market capitalization of Amazon.com Inc.
The news mentions Amazon's market capitalization as a comparison to the combined wealth of the world's richest people. However, it does not provide any specific information about Amazon's performance or outlook, hence the neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50