Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Top AI billionaires’ wealth surges to almost $1.5 trillion in 2024, led by Musk and Ellison

Source Cryptopolitan

AI moguls’ fortunes have soared, with their combined assets reaching almost $1.49 trillion. The wealth rise for these tycoons could be tied to the persistent artificial intelligence craze and the growing focus of their parent companies on more development projects.

AI capitalists profit massively from the ongoing artificial intelligence craze

The AI craze has yet to slow down in 2024, boosting the fortunes of many big players in the industry. The overall net worth of the top 8 AI billionaires stands at $1.49 trillion today, up from around $745 billion a year ago — nearly double the amount.

Tesla CEO Elon Musk has the highest cumulative assets, valued at $304 billion. Some analysts have even speculated that Tesla could soon be the top artificial intelligence firm in the next few years.

Top AI billionaires' wealth surges to almost $1.5 trillion in 2024, led by Musk and Ellison — *Source: Forbes*

This month, Tesla even acquired an AI patent for developing a system that could adapt a neural network model on a hardware platform. With the new patent, the company may soon license its autonomous driving technology to third parties. Besides, Tesla is still refining its Optimus robot design, which Musk has predicted will be the “most popular product of any kind” due to its outstanding capabilities.

Following Musk is Oracle’s cofounder, Larry Ellison, who’s accumulated roughly $230.7 billion. Like Tesla, Oracle has expanded its market reach, earning support from generative AI applications for its cloud services.

The two top billionaires cumulatively account for 36% of the $1.486 trillion, while Jeff Bezos, Mark Zuckerberg, Larry Page, Sanjay Brin, Jensen Huang, and Bill Gates make up for the rest.

Most of these CEOs added billions to their wealth in 2024

By April 2024, Meta was considered the most significant gainer among major AI corporations, almost tripling its value. This came after it slashed about 25% of its workforce and still had multiple AI and metaverse developments lined up.

CEO Meta Mark Zuckerberg has added around $138.6 billion to his wealth since March 2023 and is currently valued at $203.8 billion. Moreover, according to Forbes’ real-time billionaires’ list, Amazon’s founder Jeff Bezos is almost hitting the $225 billion mark, roughly wealthier by $110.5 billion since March 2023.

Google co-founders Sergey Brin and Larry Page have also each added over $65 billion to their wealth in the past year, while Nvidia’s CEO Jensen Huang augmented his wealth pool by over $106 billion.

Commenting at the World Economic Forum’s Annual Meeting in Davos, Alexandre Fasel, State Secretary, Switzerland, said:

AI is amongst the key technologies of our time and will have a lasting impact on society, economies and politics and an important role to play in tackling the global challenges we face.
~Alexandre Fasel

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Brent tests $108 as a key export pipeline stays shut — can the rally clear $110?Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Author Irene Q.

Sep 14, Mon

Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Gold falls below $4,300 as higher US yields bolster Fed rate hike bets Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

Author FXStreet

Yesterday 01: 23

Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

Yesterday 08: 16

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Author Suzie

4 hours ago

Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Popular Symbols