World’s 500 richest add record $336B to fortunes in single day

Elon Musk’s net worth rises more than 10% to $1.27T after SpaceX shares surge 20%

The world's 500 richest people added a record $336 billion to their combined fortunes in a single day, driven by a sharp rally in global markets and a surge in SpaceX shares, according to the Bloomberg Billionaires Index. The gains, recorded at the close of trading in New York on Monday, lifted the combined net worth of the world's 500 wealthiest people to a record $13.3 trillion. Elon Musk, already the world's first trillionaire, extended his lead at the top of the list as his fortune rose more than 10% to $1.27 trillion. The increase was mainly driven by Space Exploration Technologies Corp., commonly known as SpaceX, which made its public market debut last week. The company’s market value jumped 20% on Monday as retail investors rushed to buy its shares. The rally added $164 billion to Musk's net worth in a single day, nearly matching the combined gains of the other 499 people on Bloomberg's index. Markets were supported by optimism after the US and Iran reached an interim agreement to reopen the Strait of Hormuz, easing concerns over global energy supplies and trade flows. The Dow Jones Industrial Average climbed to a record high, while the Nasdaq 100 and MSCI World Index also closed near all-time highs. The Bloomberg index also showed a widening gap among the world's wealthiest individuals. The top 50 billionaires now control $6.5 trillion, almost equal to the $6.8 trillion held by the remaining 450 people on the list. The threshold to enter the Bloomberg Billionaires Index also reached a record level, with the bottom 12 people on the list each holding fortunes of $7.9 billion.