World's Top 10 Richest People Gained More Wealth In 2023 Than Walmart's Total Value: How Elon Musk, Jeff Bezos And Others Fared
Portfolio Pulse from Chris Katje
The top 10 richest people in the world saw their wealth increase by $465.4 billion in 2023, surpassing Walmart's market cap. The S&P 500's strong performance, with a 24% increase, and the rise in technology stocks contributed to this wealth growth. Elon Musk regained his position as the world's richest person. The SPDR S&P 500 ETF (SPY) was up 24% in 2023. Notable billionaires like Jeff Bezos, Bill Gates, and Mark Zuckerberg also saw significant increases in their wealth.
January 02, 2024 | 4:06 pm
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NEUTRAL IMPACT
Walmart Inc (WMT) is valued at $424.4 billion, less than the combined wealth gain of the top 10 billionaires in 2023.
While Walmart's valuation is significant, the comparison to the billionaires' wealth gain does not directly impact WMT's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Jeff Bezos, founder of Amazon.com Inc (AMZN), saw his wealth increase by $69.9 billion in 2023.
Jeff Bezos' wealth increase suggests a strong performance by Amazon, which would positively impact AMZN's stock price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Warren Buffett, CEO of Berkshire Hathaway Inc (BRK-A), saw his wealth grow by $31.0 billion in 2023.
Warren Buffett's wealth increase suggests a positive performance for Berkshire Hathaway, which is favorable for BRK-A stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Larry Page and Sergey Brin, co-founders of Alphabet Inc (GOOG), saw their wealth grow by $43.5 billion and $40.6 billion respectively.
The wealth growth of Alphabet's co-founders reflects positively on the company's stock performance, which is beneficial for GOOG.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Mark Zuckerberg, CEO of Meta Platforms Inc (META), increased his wealth by $82.5 billion in 2023.
Mark Zuckerberg's significant wealth increase is likely due to Meta's stock performance, which would positively influence META's stock price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Bill Gates and Steve Ballmer, associated with Microsoft Corporation (MSFT), saw their wealth increase by $31.5 billion and $45.0 billion respectively.
The wealth gains of Bill Gates and Steve Ballmer are indicative of Microsoft's strong stock performance, which is positive for MSFT.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
NVIDIA Corporation (NVDA) was valued at $1.22 trillion, with its CEO Jensen Huang being one of the top gainers in wealth in 2023.
NVIDIA's valuation and the wealth gain of its CEO suggest a robust performance for NVDA stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Larry Ellison, co-founder of Oracle Corporation (ORCL), increased his wealth by $31.1 billion in 2023.
Larry Ellison's wealth increase is likely a result of Oracle's stock performance, which would have a positive impact on ORCL.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) experienced a 24% increase in 2023, reflecting the strong performance of the S&P 500.
The SPY ETF directly tracks the S&P 500, which had a strong year. The positive performance of the S&P 500 is a direct indicator of SPY's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Elon Musk, CEO of Tesla Inc (TSLA), became the world's richest person with his wealth increasing by $92.0 billion in 2023.
Elon Musk's wealth is closely tied to Tesla's stock performance, which likely contributed to his increase in wealth and indicates a positive performance for TSLA.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90