This article first appeared on GuruFocus.
The world’s 500 richest people saw their fortunes rise by $336 billion on Monday, June 15, marking the biggest one-day gain ever recorded by the Bloomberg Billionaires Index. Their combined net worth reached a record $13.3 trillion, as global markets moved higher following an interim US-Iran deal to reopen the Strait of Hormuz.
Elon Musk extended his lead at the top of the wealth rankings, with his net worth rising more than 10% to $1.27 trillion. The biggest driver was Space Exploration Technologies Corp. (NASDAQ:SPCX), whose market value surged 20% after its blockbuster public debut the previous week, adding $164 billion to Musk’s fortune.
The broader rally helped push the Dow Jones Industrial Average to a record, while the Nasdaq 100 and MSCI World Index ended near all-time highs. The wealth gap within the ultra-rich also widened, with the top 50 billionaires controlling $6.5 trillion, nearly matching the $6.8 trillion held by the remaining 450 people on Bloomberg’s index.
