Japan’s richest person, Masayoshi Son, has added nearly $19 billion to his wealth in just nine days as investors continue betting on artificial intelligence.
The SoftBank founder’s fortune reached $81.4 billion, rising about 30 per cent since the end of August, according to Forbes.
The increase followed a strong rally in SoftBank shares, driven by investor confidence in the company’s artificial intelligence strategy, including its investment in OpenAI and its stake in British chip designer Arm Holdings.
The Dell Technologies founder became the world’s second-richest person after his fortune reached $273.2 billion on September 9, rising by about $132 billion since the beginning of the year, according to Forbes.
During the recent market rally, Dell’s wealth jumped by about $6.3 billion on September 9 alone after Dell Technologies shares rose 4 per cent to an intraday record high.
Dell Technologies shares have gained more than 300 per cent this year as companies increase spending on AI, with the company recording $60.9 billion in AI server orders in its latest quarter.
Europe’s luxury king loses billionaire status
While technology fortunes have surged, Europe’s luxury sector has faced growing pressure, affecting one of the world’s most established billionaire families.
Europe’s richest businessman, Bernard Arnault, fell out of the world’s top 10 wealthiest people on September 10 after his fortune dropped to about $143 billion, according to the Bloomberg Billionaires Index, pushing him below Warren Buffett.
Arnault’s wealth has fallen by about $65 billion this year, the biggest decline among the world’s 500 richest people.
The decline has been linked to weaker luxury demand in China and the Middle East, which has affected LVMH brands such as Louis Vuitton, Dior and Tiffany.
Dangote’s refinery IPO could reshape Africa’s richest man’s fortune
Beyond technology and luxury markets, Africa’s richest man, Aliko Dangote, could emerge as another major mover in the global billionaire rankings through a landmark industrial listing.
Dangote’s fortune has gained momentum as investors turn their attention to the planned initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
Forbes’ real-time billionaire tracker showed his wealth rising from about $31.5 billion to $32.5 billion in recent days, adding roughly $1 billion in about two weeks.
The listing could provide a public valuation for the refinery, potentially increasing the value of Dangote’s stake and strengthening his position among the world’s richest people.
A strong valuation after the IPO could push Dangote’s net worth closer to the $40 billion mark before the end of the year, further strengthening his position among the world’s richest people.
