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Table of Contents
1. Elon Musk 2. Mark Zuckerberg 3. Jeff Bezos 4. Prajogo Pangestu 5. Larry Page 6. Amancio Ortega 7. Sergei Brin 8. Steve Ballmer 9. Larry Ellison 10. Jensen Huang

As stock markets around the world recovered, more than half of the world's 2,568 billionaires became richer than at the beginning of the year. Some billionaires even earn billions, tens of billions and even more than hundreds of billions of dollars.

According to Forbes estimates, the 10 billionaires who saw their wealth increase the most over the past year gained an additional 490 billion USD as of December 15. Notably, only two of these ten people are not from the US.

Which billionaires earned the most money last year?

1. Elon Musk

Tesla, an electric car manufacturer, and SpaceX, an aerospace company, account for the majority of Elon Musk's assets. The richest billionaire on the planet as of mid-December 2023 had assets of 254.9 billion USD, up 108.4 billion USD from the start of the year.

The value of Tesla's stock has risen by over 100%. Tesla makes electric cars. In the meantime, SpaceX has launched more than 90 times successfully so far this year. The business is reportedly in the process of selling internal shares, which would increase its valuation to $180 billion. In July, the company's valuation surged to $150 billion.

2. Mark Zuckerberg

The primary source of Mark Zuckerberg's wealth is the social media platform Facebook. Following a particularly challenging year in 2022 marked by falling stock prices, profits, and workforce reductions, Facebook's CEO has made a remarkable comeback, earning roughly 75 billion USD more in the year and raising his net worth to 118.6 billion USD. As of December 15, shares of Facebook's parent company Meta had risen 178%.

3. Jeff Bezos

The American billionaire's wealth comes from e-commerce giant Amazon as the company's stock price increased 79% this year. Jeff Bezos saw his net worth increase by $65 billion and reach $172.3 billion as of mid-December.

4. Prajogo Pangestu

Prajogo Pangestu, an Indonesian tycoon, has amassed an enormous fortune in the wood and petrochemical industries, totaling 52.8 billion USD, up 47.9 billion USD from the start of the year. In March, he went public with a coal mining company, and in October, he listed a renewable energy company on the Indonesia Stock Exchange, which holds the largest geothermal producer in the nation. It has risen by more than 200% since then.

5. Larry Page

The assets of Larry Page, one of the Google co-founders, stood at $111.7 billion as of December 15, up $34.4 billion from the start of the year. Alphabet, the parent company of Google, has seen a 50% increase in share prices this year as investors anticipate the release of Gemini AI software in 2024. In March, Alphabet, which Page and Sergey Brin co-founded in 1998, introduced Bard, an AI chatbot.

6. Amancio Ortega

Fast fashion tycoon from Spain Amancio Ortega saw his net worth increase by 33.2 billion USD and reach 97.4 billion USD as of the middle of this month. Shares of Inditex - the giant behind the fast fashion chain Zara - have increased 57% in 2023 and reached a record high.

7. Sergei Brin

Sergey Brin, a co-founder of Google, has a net worth of 107.3 billion USD, up $33 billion from the start of the year. In order to focus on artificial intelligence, Brin and Page left Google's daily operations in 2019 but came back in 2023.

8. Steve Ballmer

As of December 15, this year, Steve Ballmer, the former CEO of Microsoft, has a net worth of $110.9 billion, an increase of $32.4 billion. Ballmer is doing well with his two major investments in 2023. The billionaire profited handsomely from Microsoft's 55% stock price increase as a shareholder, primarily because of Microsoft's $10 billion investment in OpenAI, the company that created GPT Chat.

9. Larry Ellison

The co-founder of software giant Oracle saw his net assets increase by $30.8 billion compared to the beginning of this year and reach $133.2 billion. Rising demand for data center services thanks to the AI boom has helped push Oracle's stock price up 26% this year.

10. Jensen Huang

The co-founder of Nvidia, the biggest chip design company in the world, has amassed $43.6 billion in assets as of mid-December, up $29.8 billion since the year's beginning. By 2023, Nvidia's market capitalization had risen to $1.2 trillion, with shares up more than 230%. This put Jensen Huang among the country's 20 richest individuals.

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