The six wealthiest people in the world collectively lost $130 billion on Thursday as tech sector stocks tumbled on renewed fears about the return on investment for the hundreds of billions of dollars companies are pouring into AI infrastructure.
South Korea’s richest person, Jay Y. Lee, now boasts a net worth of $34 billion, as Samsung’s market cap blows past $1 trillion.
Shares of the world’s largest company approached another record.
Francoise Bettencourt Meyers, the second-richest woman in the world, entered the top 20 on Forbes’ real-time billionaires list on Thursday after her company’s shares rose sharply.
Luxury goods giant LVMH’s stock is down 26% this year amid declining revenue — due to Middle East conflicts and exchange rates—slashing nearly $50 billion from its billionaire owner Bernard Arnault’s fortune.
The small group of people worth a dozen digits has hit a record high, just as Elon Musk approaches trillionaire territory.
It was a record year for billionaire wealth.
Nvidia, alongside a group of other leading tech stocks, jumped Monday, sending the Nasdaq up more than 1%.
The company reported quarterly revenue that exceeded Wall Street’s expectations.
The cloud services giant reported quarterly revenue that fell short of Wall Street’s expectations.