Following strong earnings reports and bullish new takes from Wall Street analysts, tech stocks soared this week, padding the fortunes of the world’s richest. The top ten gainers added a combined $74 billion to their net worth.
Tesla CEO Elon Musk was the week’s biggest gainer with $11.5 billion. Tesla shares climbed 7.4% this week after Piper Sandler analyst Alexander Potter gave it a $1,200 price target, anticipating strong growth. Tesla outperformed strong showings by the S&P 500 and Dow Jones Industrial Average, which rose 4.6% and 3.9%, respectively.
Google founders Sergey Brin and Larry Page gained $10.4 billion and $10 billion, respectively, after a strong week for Google's parent company, Alphabet. Alphabet’s stock jumped more than 14% this week after falling 3.4% last week. The company reported strong earnings on Tuesday, bolstered by a comeback in its digital advertising business, which took a serious hit during the pandemic.
HERE ARE THE BIGGEST BILLIONAIRE GAINERS THIS WEEK:
The net worth change is from the Friday, January 29 market close to the Friday, February 5 market close.
1 | ELON MUSK
NET WORTH | $184.3 BILLION, UP $11.5 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | TESLA
2 | COLIN ZHENG HUANG
NET WORTH | $69.1 BILLION, UP $10.7 BILLION
COUNTRY | CHINA
SOURCE OF WEALTH | PINDUODUO
3 | LARRY PAGE
NET WORTH | $90.8 BILLION, UP $10.4 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | GOOGLE
4 | SERGEY BRIN
NET WORTH | $88.1 BILLION, UP $10 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | GOOGLE
5 | JEFF BEZOS
NET WORTH | $194.7 BILLION, UP $7.7 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | AMAZON
6 | QIN YINGLIN
NET WORTH | $31.8 BILLION, UP $5.1 BILLION
COUNTRY | CHINA
SOURCE OF WEALTH | PIG BREEDING
6 | JIANG RENSHENG
NET WORTH | $27.3 BILLION, UP $5.1 BILLION
COUNTRY | CHINA
SOURCE OF WEALTH | VACCINES
8 | MA HUATENG
NET WORTH | $70.8 BILLION, UP $4.7 BILLION
COUNTRY | CHINA
SOURCE OF WEALTH | TENCENT
9 | ZHANG YONG
NET WORTH | $30.3 BILLION, UP $4.5 BILLION
COUNTRY | SINGAPORE
SOURCE OF WEALTH | RESTAURANTS
10 | LARRY ELLISON
NET WORTH | $89.2 BILLION, UP $4.3 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | ORACLE