THE CHANGING FORTUNES OF THE WORLD’S RICHEST
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ollowing strong earnings reports and bullish new takes from Wall Street analysts, tech stocks soared this week, padding the fortunes of world’s richest. The top ten gainers added a combined $74 billion to their net worths.
Tesla CEO Elon Musk was the week’s biggest gainer with $11.5 billion. Tesla shares climbed 7.4% this week after Piper Sandler analyst Alexander Potter gave it a $1,200 price target, anticipating strong growth. Tesla outperformed strong showings by the S&P 500 and Dow Jones Industrial Average, which rose 4.6% and 3.9%, respectively.
Google founders Sergey Brin and Larry Page gained $10.4 billion and $10 billion, respectively, after a strong week for Google parent company, Alphabet. Alphabet’s stock jumped more than 14% this week after falling 3.4% last week. The company reported strong earnings on Tuesday, bolstered by a comeback in its digital advertising business, which took a serious hit during the…