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World's top billionaires rake an astonishing $13.03 billion gain in traded stock by the close of Monday's trading on July 17th.
Taking the lead is Elon Musk, the Founder and CEO of Tesla, who achieved a remarkable gain of $5.8 billion, elevating his net worth to a staggering $256.2 billion and solidifying his position as the world's wealthiest person, according to the Forbes billionaire index.
Joining the ranks of top gainers are Mukesh Ambani, Founder and Chairman of Reliance Industries, with a substantial $2.9 billion increase; Rick Cohen, Chairman of C&S Wholesale Grocers, with impressive gains of $2.1 billion; and Gautam Adani, Chairman of Adani Group, who secured a notable $936 million gain.
Delving into the details of their trading performance, all five billionaires witnessed their net worth surge by over 1%, significantly bolstering their overall wealth.
Elon Musk's Triumph with Tesla Stocks ($5.8B)
Elon Musk's remarkable success story with Tesla continued as the company's stocks embarked on a five-day winning streak, reaching a share price of $290.38, representing a remarkable increase of 21.74% (8.09%).
The surge in Tesla's shares followed the company's announcement of a record-breaking number of deliveries in the second quarter, validating Musk's strategy of stimulating demand through aggressive price discounts.
In the second quarter, Elon Musk's Tesla reported an impressive delivery figure of 466,140 vehicles, marking a 10% increase from the previous quarter and a phenomenal 83% surge compared to the same period last year.
Elon Musk's company impressive delivery record consisted of 446,915 Model 3/Y vehicles and 19,225 Model S/X vehicles.
CEO of Berkshire Hathaway, Warren Buffet ($1.3B)
Warren Buffet, the CEO of Berkshire Hathaway, saw his stocks appreciate by $523,500.00, reflecting a gain of 4,015.73 (0.77%) in the last five days.
Berkshire Hathaway boasts ownership of several prominent companies, including Geico, Duracell, and Dairy Queen. Known as the "Oracle of Omaha," Buffet is renowned as one of the most successful investors in history.
Buffet's journey into investing began at a young age, purchasing his first stock at 11 and filing taxes at 13. Presently, Warren Buffet's net worth stands at an estimated $115.3 billion.
Other Top Gainers
Mukesh Ambani, Chairman of Reliance Industries, oversees a vast business empire with interests spanning petrochemicals, oil and gas, telecom, and retail.
Reliance Industries, founded by his late father Dhirubhai Ambani in 1966 as a small textile manufacturer, has transformed into a $104 billion revenue-generating conglomerate. Mukesh's net worth is currently valued at $100 billion.
Rick Cohen, the owner and executive chairman of C&S Wholesale Grocers, leads the nation's largest grocery wholesaler, with an impressive revenue of $25 billion.
His family's significant wealth comes from the warehouse automation firm, Symbiotic, which partnered with retail giant Walmart to automate all 42 of its regional distribution centres.
This strategic move led to remarkable growth and culminated in a successful $5.5 billion SPAC deal sponsored by venture-capital giant SoftBank in June 2022. Rick Cohen's net worth is estimated at $22.2 billion.
Gautam Adani, Chairman of the $32 billion revenue-generating Adani Group, presides over a diversified conglomerate with interests in ports, airports, power generation and transmission, and green energy.
The group, which started as a commodities trading firm in 1988, expanded through acquisitions and received support from Indian Prime Minister Narendra Modi. Gautam Adani's net worth is valued at $51.8 billion.
These exceptional achievements and gains in the trading market underscore the extraordinary business acumen and strategic prowess of these billionaires in navigating the ever-changing global economic landscape.
