Only the technology sector won on the billionaires list in the first nine months of the year
According to Bloomberg Billionaires Index data, tech billionaires experienced a massive increase in wealth in the first nine months of the year, while losses were seen in other sectors.
According to the Bloomberg Billionaires Index, approximately 100 technology billionaires among the world's 500 richest people recorded a record level of wealth increase in the first nine months of the year.
Wealth Increase in the Technology Sector
According to the Bloomberg Billionaires Index, in the period from the beginning of the year to September 30, approximately 100 technology billionaires recorded a total wealth increase of $845 billion. This figure went down in records as the highest increase ever seen for the first nine months of a year.
Factors Fueling the Rise
Among the key elements fueling this unprecedented rise were the artificial intelligence boom and technology stocks gaining value rapidly, particularly in the United States.
General Wealth Distribution
The total wealth of technology billionaires reached $4.6 trillion. Although these individuals make up one-fifth of the index members, they hold 36 percent of the total wealth.
Status of Other Sectors
Billionaires who acquired their wealth in non-technology areas lost a total of $62 billion in the same period. Meanwhile, 94 percent of the net gain in the index came directly from Americans.
Status of the Top Ten Richest People
Since September 10, all of the world's top 10 richest people being U.S. citizens occurred as a first since Bloomberg began tracking billionaires in 2012.
Elon Musk and American Technology
While Elon Musk added $310 billion to his wealth until the end of September of the year, nine out of the world's top 10 richest people owe their wealth to American technology companies.