The only billionaires making money this year are in tech

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeInnovationThe only billionaires making money this year are in techNine of the world’s 10 wealthiest people owe their fortunes to American tech firmsAuthor of the article:Dylan Sloan and Jack WitzigThe world’s 500 richest people hit a peak of US$13.4 trillion in combined wealth in mid-June. Photo by Kevin Dietsch/Getty ImagesIf 2026 feels like a banner year for the world’s tech billionaires, the numbers bear it out.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe roughly 100 technology fortunes among the world’s 500 richest people gained a combined US$845 billion through Sept. 30, the most ever for the first nine months of a year, according to the Bloomberg Billionaires Index.Fuelling that surge were the same forces driving global markets: the artificial intelligence boom and soaring technology stocks, particularly in the United States. Tech billionaires are now worth a combined US$4.6 trillion, accounting for 36 per cent of the index’s wealth despite making up only about a fifth of its members.This advertisement has not loaded yet, but your article continues below.The divergence is stark. Billionaires who made their fortunes outside technology lost a combined US$62 billion over the period, while Americans accounted for 94 per cent of the index’s net gains. Since Sept. 10, all 10 of the world’s richest people have been from the U.S. — the first time that’s happened since Bloomberg began tracking billionaires in 2012.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe gains have also been heavily concentrated at the very top. Elon Musk, the world’s richest person, added US$310 billion to his fortune this year through the end of September, or roughly 40 per cent of the index’s total increase. He briefly became the world’s first trillionaire after SpaceX merged with his artificial intelligence company, xAI, and went public in June.Nine of the world’s 10 wealthiest people owe their fortunes to American tech firms. Dell Technologies Inc. founder Michael Dell saw his wealth increase 81 per cent to $254 billion as his company’s data centre sales business ballooned. Mark Zuckerberg added US$23 billion to his net worth this year as shares of Meta Platforms Inc. gained 27 per cent in September — its best month in almost four years — after rolling out its new Muse personal AI assistant.This advertisement has not loaded yet, but your article continues below.Cracks ShowingThe world’s 500 richest people hit a peak of US$13.4 trillion in combined wealth in mid-June. That’s since fallen six per cent to US$12.6 trillion amid a broader market slowdown and growing doubts about some of the biggest AI names.The historic debt binge fuelling Big Tech’s AI ambitions is making some investors uneasy. Larry Ellison briefly became the world’s richest person in September 2025, gaining US$89 billion in a single day after Oracle Corp. touted explosive growth in its AI-linked cloud infrastructure business.A year later, Ellison’s net worth has fallen US$196 billion, while Oracle’s credit-default swaps are trading near record highs as investors balk at the massive borrowing needed to fund its AI infrastructure buildout.The surge in billionaire wealth has also fuelled calls for higher taxes on the ultra-rich. California voters will decide in November whether to levy a wealth tax on the state’s billionaires, while states including Washington, New York, Illinois and Rhode Island have also discussed new taxes on wealthy residents.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.The increasingly young, tech-heavy ranks of the ultra-rich also complicate the idea that the next great wealth shift will come primarily from aging baby boomers passing fortunes to their heirs.“We talk a lot about the great wealth transfer — but for the top 100 or 1,000 richest, some may be old and own rather traditional businesses, but a lot of them are young tech entrepreneurs,” said James Mazeau, an economist at UBS Group AG’s chief investment office. “I wonder to what extent that will fuel more wealth concentration.”New MoneyWhile much of the AI boom’s wealth has accrued to the leaders of major tech firms, Bloomberg’s new entrants show how the surge is also minting fortunes among startup founders and the companies supplying AI infrastructure.All seven of Anthropic PBC’s co-founders joined the wealth list in June after the AI firm closed a funding round valuing it at US$965 billion. Founders of Chinese firms including MiniMax Group Inc.’s Yan Junjie and DeepSeek’s Liang Wenfeng also were added.The boom has also enriched the businesses supplying AI’s hardware and infrastructure.This advertisement has not loaded yet, but your article continues below.Lin Tsung-chi, founder of King Slide, a Taiwanese maker of server rails and cable management systems for data centres, emerged with a US$9.5 billion fortune this year, four decades after starting the company. Wang Xin, chair of Guangdong Dtech Technology Co., joined the wealth index as AI created demand for the specialized drill bits her company makes to assemble circuit boards.Two heirs of Samsung Electronics Co.’s Lee family — Boo-jin and Seo-hyun — also joined the list thanks to demand for the company’s memory chips. The uptick in Samsung’s stock price helped the family pay back an US$8 billion inheritance tax after former Chairman Lee Kun-hee’s death in 2020. In Taiwan, chip designer MediaTek Inc.’s Tsai Ming-kai and Morris Chang, founder of Taiwan Semiconductor Manufacturing Co., also joined the exclusive list this year.China’s push for technology independence and rivalry with the U.S. for AI dominance have resulted in several new entrants joining the list: Suzhou TFC Optical Communication Co.’s Zou Zhinong and family, as well as Suzhou Dongshan Precision Manufacturing Co.’s Yuan Fugen.—With assistance from Pui Gwen Yeung.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.