A Trade Agreement Between Washington and Beijing Quickly Boosts Billionaires’ Wealth

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 A Trade Agreement Between Washington and Beijing Quickly Boosts Billionaires’ Wealth

Two days ago, the United States and China revealed that they had reached a trade agreement, which the two economic powerhouses considered a major victory. However, the immediate triumph was most visible in the fortunes of billionaires, as Bloomberg's Billionaires Index recorded a notable surge in the wealth of its top members.

With stock markets rallying due to easing trade tensions, ten billionaires collectively gained more than $83.7 billion in wealth.

Topping the list of gainers was Meta (formerly Facebook) co-founder Mark Zuckerberg, whose net worth jumped by $16.1 billion, narrowing the gap with second-place Jeff Bezos, founder of Amazon, who added $14.3 billion.

Naturally, even small movements in the stock market significantly affect the wealth of the world's richest person, Elon Musk, founder of Tesla, whose net worth increased by $14.5 billion.

Technology billionaires dominated the list, with the exception of three non-tech figures. Most notably, Bernard Arnault, the French luxury goods tycoon and Europe’s richest person, gained $7.1 billion on Tuesday, according to the Bloomberg list seen by Al Arabiya Business.

Indian billionaires Mukesh Ambani and Gautam Adani also featured prominently, benefiting from a ceasefire between India and Pakistan. Ambani's wealth rose by $4.42 billion, while Adani added $5.31 billion.

The list also included billionaires from tech giants such as Dell, Nvidia, Oracle, and Alphabet.