Ten billionaires, led by Elon Musk, Dan Gilbert and Jeff Bezos, raised $ 53 billion this week

THE RICHEST CHANGING FORTUNES IN THE WORLD

^TAlthough the Dow Jones and S&P 500 were virtually flat from week to Friday, the fortunes of 10 billionaires increased by an astonishing $ 53.4 billion during the same period, which saw a symbolic milestone on Tuesday. : S&P 500 hit record high, marking complete reversal of losses after March stock market crash.

The biggest winner of the week is Tesla founder and CEO Elon Musk, who reclaimed the title of the world’s fifth richest person on Monday after an upgrade from an analyst citing the surge in demand for electric vehicles. in China. Over the past week, Tesla stock has jumped more than 24%, increasing Musk’s net worth by $ 15 billion. He finished Friday with a fortune of $ 91.7 billion, a record for Musk. His company based in Palo Alto, Calif., Became the world’s most valuable automaker earlier this summer and even surpassed Walmart in market capitalization on Friday.

Mortgage tycoon Dan Gilbert is the biggest winner of the week in terms of percentage. Just two weeks after a monster public market debut that drove Gilbert’s net worth six-fold, shares of Rocket Companies – the parent company of the nation’s largest mortgage lender, Quicken Loans – continued their upward tear , climbing 37% this week and adding $ 13 billion to Gilbert’s fortune, including $ 4 billion on Friday alone. The Detroit resident, who founded Rocket Companies (then called Rock Financial) in 1985, is now worth $ 53.5 billion; he finished as the 20th richest person in the world on Friday, overtaking Mexican telecommunications mogul Carlos Slim Helú, who was the richest person on the planet for several years before being officially overtaken by Bill Gates in 2013 .

All of the week’s 10 biggest winners owe their fortunes to booming tech stocks, most of which are constituents of the S&P 500. Jeff Bezos and his ex-wife MacKenzie Scott, for example, were the third and seventh gains the largest, up $ 7.6 billion and $ 2.6 billion, respectively. Although Amazon stock stabilized on Friday, stocks ended the week up 4% and even hit a new all-time high on Tuesday. Shares rose more than 70% in 2020 and Bezos’ fortune now stands at $ 196.3 billion.

Only two non-US billionaires are among the top winners this week. One is Richard Liu, the Chinese e-commerce leader often referred to as “China’s Jeff Bezos”. Beijing-based JD.com CEO Liu has added $ 2.6 billion to his fortune since last Friday. Shares of his Nasdaq-listed company soared 21% this week after a report on Monday’s results revealed that revenues had jumped more than 33% globally. $ 28.5 billion in the second quarter. The company attributed some of its excellent performance to the success of its 618 shopping vacation, which spanned the first 18 days of June. This year, the company processed nearly $ 40 billion in transactions, up 30% from last year. JD.com shares closed at an all-time high on Friday, and Liu is now worth $ 16.1 billion. Lei Jun, co-founder and chairman of famous Chinese smartphone maker Xiaomi, is the only other big winner from outside the United States. -year-year is worth $ 17.2 billion, up from $ 2.6 billion this week.

HERE ARE THE 10 MILLIONAIRES WHOSE FORTUNES HAPPENED THE MOST THIS WEEK.

The change in net worth is from Friday August 14 to Friday August 21.

NET VALUE | $ 91.7 BILLION, UP BY $ 15 BILLION

COUNTRY | UNITED STATES

WEALTH SOURCE | TESLA, SPACEX ENGINES