Global stock markets surged on news of a ceasefire between the US and Iran, with the Dow Jones Industrial Average soaring 1,325 points at the close on the 8th, marking its best day in a year. Fueled by the stock market rebound, the collective net worth of the world’s top 500 billionaires increased by $265 billion (1.05 trillion ringgit) in a single day.
● $265 Billion Net Worth Surge Marks Second-Largest in History
The single-day net worth gain of $265 billion among the world’s top 500 billionaires set the second-highest record in the history of the Bloomberg Billionaires Index. The largest increase occurred a year ago, when Trump announced a 90-day tariff delay, causing the top 500 billionaires' net worth to jump $304 billion (1.21 trillion ringgit) in a single day.
Driven by the stock market rebound and the announcement of the new AI model “Muse Spark,” META CEO Mark Zuckerberg saw his net worth soar by $12.8 billion (5.10 billion ringgit) in a single day, becoming the day's biggest gainer among the top 500 billionaires.
LVMH head Bernard Arnault and Google co-founder Larry Page each saw their net worth jump by $8 billion (3.19 billion ringgit) in one day. In the Bloomberg Billionaires Index, 61 billionaires saw their net worth increase by at least $1 billion (398.2 million ringgit) each.
● Annual Net Worth Losses Still Unrecovered
However, the sharp surge in net worth on Wednesday was still not enough to offset losses incurred so far this year. Since the beginning of the year, the top 500 billionaires worldwide have still lost a collective $38.8 billion (1.54 billion ringgit) in wealth.
Currently, a formal written agreement on the US-Iran ceasefire has yet to be reached. Israel has launched further attacks on Lebanon, and Iranian Foreign Minister Araghchi stated that the US must choose between “ceasefire” and “continuing the war through Israel.” Iran has also re-imposed restrictions on the passage of ships through the Strait of Hormuz. With the risk of the ceasefire collapsing, global billionaires may face another wave of net worth evaporation.