Bloomberg Billionaires Index

[ad_1] It was a comeback year for the world's wealthiest. The combined net worth of the 500 richest people surged by $1.5 trillion in 2023, fully rebounding from the $1.4 trillion lost the year prior, according to the Bloomberg Billionaires Index. Once again, their fortunes were closely correlated to the performance of tech stocks, which rose to fresh records this year despite recession fears, lingering inflation, lofty interest rates, and geopolitical turmoil. Tech billionaires saw their wealth grow by 48% or $658 billion, propelled by intense hype around artificial intelligence. No one did better than Elon Musk, who recaptured the title of world's richest person from French luxury tycoon Bernard Arnault. The Tesla Inc. chief executive officer netted an additional $95.4 billion through...

[ad_1] Here's a question few of us will ever have to answer. Would you rather have $23 billion living in the United Arab Emirates with no US extradition treaty, or sacrifice a chunk of your wealth and perhaps spend 18 months behind bars to resolve all your issues with the US Department of Justice and Securities and Exchange Commission?Binance Holdings Ltd. CEO Changpeng Zhao appears to have chosen the latter. We don't know all the details of the deal — most importantly the length of time, if any, Zhao must spend in prison — but it appears to clear the way for Binance to continue as the world's largest crypto exchange and for Zhao to keep his top-100 status on the Bloomberg Billionaires Index. I see a major risk that the deal itself, as well as the strengthened controls it will require, ...

Tag: Bloomberg Billionaires Index

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