Monday’s Stock Market Gains Hit $13B Ranking Elon Musk as World Richest Man

At the end of Monday’s trading session, there was a lift in some of the billionaire's rankings. A total of $13.03 billion was recorded at the close of the day giving well-known billionaires smiles as the emerging biggest winners in the stock market.

On that remark, Tesla's inventor and CEO, Elon Musk, led the group with a $5.8 billion gain, skyrocketing his net worth to a value of $256.2 billion. This development has placed him as the world's richest man, according to the Forbes billionaire index. 

According to the close of Monday’s trade, other notable gainers on the list include Mukesh Ambani, the Founder, and Chairman of Reliance Industries, who gained in stocks with $2.9 billion; Rick Cohen, the Chairman of C&S Wholesale Grocers, who gained in stocks with a $2.1 billion; and Gautam Adani, Chairman of Adani Group, who gained in stocks with a $936 million. 

Putting a keen eye on the trade gains, all five billionaires had their net worth rose by more than 1%, significantly increasing their net worth.

A Closer Look At Top Gainers From Monday’s Trading Session

1. Elon Musk (Tesla Stock) - $5.8B

Elon Musk's Tesla stocks continued to rise as the electric vehicle makers went on a straight five-day win, reaching a share price of $290.38, a 21.74% (8.09%) rise. 

Tesla's stock jumped on Monday morning as the company announced a record number of deliveries in Q2, confirming Elon Musk's strategy of boosting demand through dramatic price cuts. 

The business delivered 466,140 automobiles in Q2, which signifies a 10% rise over the previous quarter and an incredible 83% increase over the same period last year. The report stated that there were 446,915 Model 3/Y deliveries and 19,225 Model S/X deliveries.

2. Mukesh Ambani (Reliance Industries) - $2.9B

Chairman of Reliance Industries, is in charge of a massive economic empire that includes stakes in petrochemicals, oil and gas, telecommunications, and retail.

Reliance Industries, started in 1966 as a tiny textile firm by his late father Dhirubhai Ambani, has grown into a $104 billion revenue-generating multinational. Mukesh has a net worth of $100 billion. 

3. Rick Cohen (C&S Wholesale Grocers) - $2.1B

C&S Wholesale Grocers' founder and executive chairman controls the nation's largest grocery distributor, with a $25 billion revenue.

His family's fortune comes from Symbiotic, a warehouse automation startup that collaborated with retail giant Walmart to fully automate all 42 of its local distribution facilities.

The strategic decision boosted the company's growth and resulted in a successful $5.5 billion SPAC transaction sponsored by venture capital behemoth SoftBank in June 2022. He has a net worth of $22.2 billion. 

4. Warren Buffet (Berkshire Hathaway) - $1.3B

The CEO of Berkshire Hathaway, Warren Buffet, witnessed his stocks rise $523,500.00 in the last five days, representing a gain of $4,015.73 (0.77%).

Berkshire Hathaway is known as the parent company of various firms, including Geico, Duracell, and Dairy Queen.

• Buffet is also called the "Oracle of Omaha." This name was given to him for being one of the most successful investors of all time. His adventure into investing began at an early age when he bought his first stock at the age of 11 and filed his first tax return at the age of 13. Warren Buffet's net worth is now estimated to be $115.3 billion. 

5. Gautam Adani (Adani Group) - $936M

Adani Group Chairman serves over a multinational company with holdings in ports, airports, electricity generation, electricity transmission, and green energy worth $32 billion.

The organization, which began as a commodities trading concern in 1988, has grown via acquisitions and has garnered backing from Indian Prime Minister Narendra Modi. He has a net worth of $51.8 billion. 

However, this may change in the course of the next trading days because of the ups and down in the stock market.