20 Hrs
Source:
Sky News
Mask drives global wealth growth while tech absorbs gains
The year 2026 witnessed an unprecedented surge in the wealth of billionaires, with hundreds of assets linked to the technology sector—particularly artificial intelligence—achieving gains of $845 billion in the first nine months of the year. The total value of their wealth rose to approximately $4.6 trillion, representing 36% of the total wealth of the world’s top 500 richest individuals. American companies dominated these gains, accounting for 94%, with the ten wealthiest people all hailing from the United States. Leading the pack was Elon Musk, who added approximately $310 billion to his fortune over the year, bringing his wealth temporarily to the trillion-dollar mark. Meanwhile, wealth outside the technology sector declined, with non-technological billionaires losing $62 billion. On the other hand, the expansion of funding for AI projects helped create a new generation of billionaires, sparking concerns over wealth concentration and increased inequality. Regulatory bodies are now turning their attention toward calls for higher taxes on the wealthy to ensure a more equitable distribution of wealth.
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