- Elon Musk, Jeff Bezos Add $7.8bn in One Day as Tech Stocks Surge
- Investor confidence in AI and innovation fuels renewed
- Tesla and Amazon shares rose sharply
By Grateful Ogunjebe
Elon Musk and Jeff Bezos recorded a massive wealth boost on Friday as Tesla and Amazon stocks jumped significantly, adding $7.8 billion to their combined fortunes in just one day.
Eko Hot Blog reports that the billionaires’ net worth soared following gains in their respective companies, driven by renewed investor enthusiasm for artificial intelligence and tech innovation.
Musk’s net worth surged by $5.8 billion, bringing his total to $413.2 billion. The rise follows a 3.21% gain in Tesla stock, which closed at $329.65. He remains the richest person globally.
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The Tesla CEO owns approximately 12% of the electric carmaker, though more than half is pledged as collateral for personal loans worth up to $3.5 billion.
Musk’s fortune is also powered by his significant holdings in SpaceX, valued at $350 billion, where he controls an estimated 42% stake.
Additionally, he is the majority owner of artificial intelligence firm xAI, recently valued at $50 billion. The company’s flagship product, Grok 4, now offers a $300 monthly subscription plan.
Despite a 2024 court ruling that voided his 2018 Tesla pay package, Musk’s wealth continues to rise on the back of market confidence in his ventures.
Meanwhile, Jeff Bezos added $2 billion to his net worth as Amazon shares gained 1.01%, closing at $226.13. His total wealth now stands at $239.2 billion.
Bezos owns roughly 9% of Amazon, which he founded in 1994. He is currently the world’s fourth-richest individual.
Since stepping down as CEO in 2021, Bezos has shifted his focus to his space firm Blue Origin and philanthropic efforts via the Bezos Earth Fund.
The Earth Fund aims to channel $10 billion into climate change by 2030, with $2 billion already committed to various initiatives globally.
Bezos has previously stated his intention to give away most of his fortune in his lifetime, aligning with other ultra-rich pledging to support global causes.
The latest surge in tech stocks highlights how closely billionaire wealth is tied to stock market movements and emerging technologies.
Investor optimism in AI is growing, with companies like Tesla and Amazon driving innovation in automation, robotics, and cloud computing.
