Elon Musk and Jeff Bezos saw their combined net worth swell by $7.8 billion (£6 billion) on Friday, as shares in Tesla and Amazon rallied, lifting both billionaires higher on the global rich list.
Musk, chief executive of Tesla and founder of ventures including SpaceX and the artificial intelligence start-up xAI, gained $5.8 billion, bringing his total fortune to $413.2 billion, according to Forbes’ real-time billionaire tracker. The 1.41% jump in his wealth firmly cements his position as the richest person on Earth.
The gain followed a 3.21% rise in Tesla shares, which closed at $329.65. Musk owns roughly 12% of the electric vehicle manufacturer, though more than half of that stake has been pledged as collateral for personal loans reportedly worth up to $3.5 billion.
In addition to Tesla, Musk’s wealth is bolstered by his 42% stake in SpaceX, now valued at $350 billion following a private share sale in December. He also maintains majority ownership of xAI, which was valued at $50 billion by investors late last year.
Despite facing legal challenges, including a 2024 Delaware court ruling that voided his multibillion-dollar 2018 Tesla pay package, now under appeal, Musk continues to dominate headlines with his influence across tech, transport, space, and AI.
Meanwhile, Jeff Bezos, founder and executive chairman of Amazon, added $2 billion to his fortune as Amazon shares rose by 1.01% to $226.13. Bezos, who started Amazon from his garage in Seattle in 1994, still owns about 9% of the e-commerce behemoth. His net worth now stands at $239.2 billion, making him the fourth wealthiest person in the world.
Since stepping down as Amazon CEO in 2021, Bezos has shifted focus to other ventures, including space company Blue Origin and The Washington Post. He has also advanced his philanthropic agenda through the Bezos Earth Fund, which has pledged $10 billion towards climate change efforts by 2030 with $2 billion already disbursed.
Bezos stated in a 2022 interview that he plans to give away the majority of his fortune during his lifetime.
Friday’s wealth surge underscores renewed investor confidence in major tech firms, with developments in artificial intelligence serving as a key driver of optimism. Tesla’s AI initiatives and Amazon’s continued innovation in cloud computing have reignited market enthusiasm, once again linking the fortunes of tech’s leading figures to the industry’s ever-accelerating pace.
