These are the 8 mega-billionaires who have gotten the biggest boost to their net worth this year as the world has grappled with coronavirus

Image
Founder, Chairman, CEO and President of Amazon Jeff Bezos gives a thumbs up as he speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019. Clodagh Kilcoyne/Reuters

  • The coronavirus pandemic has roiled global markets, which have whiplashed over the last two months.
  • While the Nasdaq has recovered from the March market meltdown, the S&P 500 and Dow Jones industrial average are still in negative territory year to date.
  • Still, these eight mega-billionaires have seen their net worth increase amid the market mayhem.
  • Read more on Business Insider.

The coronavirus pandemic has whiplashed global markets this year, sending stocks on a rollercoaster ride as the world rushed to contain the spread of COVID-19.

The market meltdown that bottomed on March 23 erased trillions from US stocks, swiftly ending the longest-ever bull market and dashing nearly all gains made since President Trump took office. In addition to the market rout, extreme volatility whipped through indexes in March, setting off a number of circuit breakers sometimes more than once a day.

Since the recent lows, however, US stocks have rebounded, even amid devastating economic data showing the fallout from coronavirus-induced lockdowns.

The S&P 500 has gained roughly 36% from March 23 through Wednesday’s close, and is now only about 12% from its all-time high hit on February 19. The Dow Jones industrial average is up more than 37% from its March low, and is 15% below its February high.

The rebound rally has been led by technology stocks, which many investors see as poised to outperform both amid the pandemic and through a recession. The tech-heavy Nasdaq in early May erased all year-to-date losses as strong tech earnings and investor confidence fuelled a rally. In addition, much of the indexes’ gains are tied to Facebook, Apple, Amazon, Microsoft, and Alphabet, which make up 38% of the composite.


Read more:
GOLDMAN SACHS: These are the 20 stocks hedge funds piled into most aggressively last quarter – and history suggests they’re set for big gains

That’s translated into billion-dollar gains for wealthy investors with sizeable amounts of money in the market. While the net worth of many billionaires has surged, it’s important to note that accessing the money in the market would mean selling the stocks held.

Here are eight mega-billionaires that’ve seen their net worth increase so far this year, in order of lowest gain to highest.


8. Eric Yuan

Image

Known for: CEO and founder of Zoom video communications

Net worth gain year to date: +$US5 billion

Total net worth: $US8.5 billion

Rank on Bloomberg’s Billionaires Index: 188

Source: Bloomberg


7. Goh Cheng Liang

Image
Goh holds a a 39% stake in Nippon Paint Holdings, the world’s fourth-largest paint manufacturer. REUTERS/Kim Kyung-Hoon

Known for: Paint. Goh founded Wuthelam Holdings, a paint and coatings maker. He also holds a large stake in Japan’s Nippon Paint Holdings.

Net worth gain year to date: +$US5.3 billion

Total net worth: $US16.4 billion

Rank on Bloomberg’s Billionaires Index: 68

Source: Bloomberg


6. Steve Ballmer

Image

Known for: Former CEO of Microsoft, current owner of the Los Angeles Clippers

Net worth gain year to date: +$US7.7 billion

Total net worth: $US65.9 billion

Rank on Bloomberg’s Billionaires Index: 7

Source: Bloomberg


5. Mark Zuckerberg

Image
Facebook CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California. Justin Sullivan/Getty Images

Known for: Facebook

Net worth gain year to date: + $US9.7 billion

Total net worth: $US88.1 billion

Rank on Bloomberg’s Billionaires Index: 3

Source: Bloomberg


4. MacKenzie Bezos

Image

Known for: Amazon, ex-wife of Jeff Bezos

Net worth gain year to date: +$US10.9 billion

Total net worth: $US48.0 billion

Rank on Bloomberg’s Billionaires Index: 18

Source: Bloomberg


3. Elon Musk

Image
Elon Musk speaks during the Satellite 2020 at the Washington Convention Centre on March 9, 2020, in Washington, DC. Brendan Smialowski / AFP via Getty Images

Known for: Tesla, SpaceX

Net worth gain year to date: +$US12.8 billion

Total net worth: $US40.4 billion

Rank on Bloomberg’s Billionaires Index: 22

Source: Bloomberg


2. Colin Huang

Image

Known for: Founder and CEO of Pinduoduo, a Chinese e-commerce company

Net worth gain year to date: +$US14 billion

Total net worth: $US33.7 billion

Rank on Bloomberg’s Billionaires Index: 26

Source: Bloomberg


1. Jeff Bezos

Image

Known for: Amazon

Net worth gain year to date: +$US31.3 billion

Total net worth: $US146.2 billion

Rank on Bloomberg’s Billionaires Index: 1

Source: Bloomberg