Elon Musk, Warren Buffet, other billionaires gain $13B in traded stocks

A group of renowned billionaires emerged as the top winners in the trading game, amassing an impressive $13.03 billion by the end of Monday’s trade on July 17. 

Leading the pack, Tesla’s founder and CEO, Elon Musk, enjoyed a remarkable $5.8 billion in gains, propelling him to a valuation of $256.2 billion, securing his position as the world’s richest man, as reported by the Forbes billionaire index. 

Other prominent gainers on the list include Mukesh Ambani, Founder and Chairman of Reliance Industries, with $2.9 billion in gains; Rick Cohen, Chairman of C&S Wholesale Grocers, with $2.1 billion; and Gautam Adani, Chairman of Adani Group, with $936 million. 

In a closer look at their earnings during the trade, all five billionaires saw their net worth increase by over 1%, substantially boosting their overall wealth. 

Elon Musk’s Triumph with Tesla Stocks($5.8B)

Elon Musk’s success story with Tesla continued as the electric vehicle maker’s stocks embarked on a five-day winning streak, reaching a share price of $290.38, a remarkable increase of 21.74% (8.09%). 

Tesla’s shares soared on Monday morning following the company’s announcement of a record number of deliveries in the second quarter, validating Elon Musk’s strategy of stimulating demand through aggressive price discounts. 

 The company reported a remarkable delivery of 466,140 vehicles in the second quarter, indicating a 10% increase from the previous quarter and an astounding 83% surge compared to the same period last year. The deliveries comprised 446,915 Model 3/Y and 19,225 Model S/X. 

CEO, Berkshire Hathaway, Warren Buffet($1.3B)

Warren Buffet, the CEO of Berkshire Hathaway, observed his stocks appreciating $523,500.00, indicating a gain of 4,015.73 (0.77%) in the last five days.

Berkshire Hathaway owns several companies, including Geico, Duracell, and Dairy Queen. Known as the “Oracle of Omaha,” Buffet is renowned as one of the most successful investors of all time.

His journey into investing began at a young age, purchasing his first stock at 11 and filing taxes at 13. Warren Buffet’s net worth currently stands at an estimated $115.3 billion. 

Other top gainers

Mukesh Ambani, Chairman of Reliance Industries, is at the helm of a colossal business empire with interests spanning petrochemicals, oil and gas, telecom, and retail.

Reliance Industries, founded by his late father Dhirubhai Ambani in 1966 as a small textile manufacturer, has transformed into a $104 billion revenue-generating conglomerate. Mukesh is worth $100 billion 

 Rick Cohen, the owner and executive chairman of C&S Wholesale Grocers, commands the nation’s largest grocery wholesaler, raking in $25 billion in revenue.

His family’s substantial wealth comes from the warehouse automation firm, Symbiotic, which partnered with retail giant Walmart to automate all 42 of its regional distribution centres.

The strategic move significantly boosted the company’s growth and culminated in a successful $5.5 billion SPAC deal sponsored by venture-capital giant SoftBank in June 2022. He is worth $22.2 billion. 

Gautam Adani, Chairman of the $32 billion revenue-generating Adani Group, presides over a diversified conglomerate with interests in ports, airports, power generation and transmission, and green energy.

The group, which initially started as a commodities trading firm in 1988, expanded through acquisitions and received support from Indian Prime Minister Narendra Modi. He is worth $51.8 billion 

These billionaires’ remarkable achievements and gains in the trading market underscore their exceptional business acumen and strategic prowess in navigating the ever-changing global economic landscape.