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Soaring AI stocks this year have led to massive wealth gains for US tech billionaires.
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Seven tech billionaires have collectively gained $230 billion thanks to their rising AI stocks.
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Jensen Huang is leading the pack with a $50 billion wealth gain so far this year.
The ongoing surge in AI stocks has led to massive wealth gains for US tech billionaires.
Just seven billionaires have gained a collective $230 billion in wealth so far this year, driven by the AI revolution which has led to record highs in the stock market.
Nvidia co-founder and CEO Jensen Huang has led the charge in wealth gains, with his company’s stock more than doubling this year after more than tripling in 2023. Huang owns about 3.5% of the company, which is now the third biggest company in the world.
Nvidia, which makes the GPU chips that power generative AI offerings like ChatGPT, Gemini, and Anthropic, has helped spark the massive wealth gains for other billionaires as the tech sector soars.
Here are the seven billionaires that have gained $230 billion in wealth so far this year, according to data from Bloomberg.
7. Steve Ballmer
YTD wealth gain: $17.7 billion
Total net worth: $148 billion
Source of wealth: Microsoft stock, which is up 14% year-to-date.
6. Jeff Bezos
YTD wealth gain: $26.6 billion
Total net worth: $203 billion
Source of wealth: Amazon stock, which is up 19% year-to-date.
5. Sergey Brin
YTD wealth gain: $26.7 billion
Total net worth: $147 billion
Source of wealth: Alphabet stock, which has surged 26% year-to-date.
4. Larry Page
YTD wealth gain: $29.0 billion
Total net worth: $155 billion
Source of wealth: Alphabet stock, which has surged 26% year-to-date.
3. Michael Dell
YTD wealth gain: $38.1 billion
Total net worth: $116 billion
Source of wealth: Dell stock, which has jumped 117% year-to-date.
2. Mark Zuckerberg
YTD wealth gain: $42.0 billion
Total net worth: $170 billion
Source of wealth: Meta Platforms stock, which has surged 35% year-to-date.
1. Jensen Huang
YTD wealth gain: $49.6 billion
Total net worth: $93.6 billion
Source of wealth: Nvidia stock, which has soared 123% year-to-date.
Read the original article on Business Insider
From: Yahoo.com
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