The world's wealthiest people enjoyed an extraordinary day on Monday as a powerful market rally sent fortunes soaring across the globe. According to the Bloomberg Billionaires Index, the 500 richest people collectively added a record £247 billion to their wealth in a single day, taking their combined net worth to an unprecedented £9.8 trillion.
The rally was driven by optimism surrounding a deal between the United States and Iran aimed at ending the war, reopening the Strait of Hormuz, and helping restore global oil supplies. Investors responded enthusiastically, pushing major stock indices sharply higher. The S&P 500 rose 1.7 per cent, while the Nasdaq 100 gained 3.1 per cent. The Dow Jones Industrial Average also reached an all-time high. Amid the surge, one name stood above everyone else. Elon Musk recorded the biggest gain of the day, adding an astonishing £121 billion to his fortune and extending his lead as the richest person in the world.
