{"id":1244,"date":"2020-04-19T07:26:42","date_gmt":"2020-04-19T06:26:42","guid":{"rendered":"http:\/\/towncryyers.com\/?p=1244"},"modified":"2020-04-19T07:26:46","modified_gmt":"2020-04-19T06:26:46","slug":"these-10-billionaires-gained-55-billion-this-week-as-retail-and-tech-stocks-surged","status":"publish","type":"post","link":"https:\/\/towncryyers.com\/index.php\/2020\/04\/19\/these-10-billionaires-gained-55-billion-this-week-as-retail-and-tech-stocks-surged\/","title":{"rendered":"These 10 Billionaires Gained $55 Billion This Week As Retail And Tech Stocks Surged"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By Jonathan Ponciano (Forbes)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Weeks into the coronavirus-induced market rout, the first round\nof economic stimulus relief in the United States coincided with lofty stock\ngains for companies reaping the benefits of changing consumer habits. A\ntestament to the new normal, shares of quarantine staples like Amazon and\nNetflix reached record highs this past week, as millions remain indoors amid\nstatewide shutdowns. Though the Dow Jones Industrial Average and the S&amp;P\n500 edged up less than 2% from Thursday April 9 through Thursday April 16, the\nfortunes of the top 10 billionaire gainers\u2014all of whom derive their wealth from\nretail or technology stocks\u2014jumped a combined $55 billion, or 11%, over the\nsame period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The world&#8217;s richest person, Jeff Bezos, and his ex-wife\nMacKenzie Bezos were the biggest dollar gainers in the week through April 16,\nas Amazon shares surged 18% and nabbed their highest close ever on Thursday.\nThe stock first popped on Tuesday after the Seattle-based e-commerce giant said\nit would hire 75,000 workers as a result of booming demand from consumers urged\nto stay at home. Jeff and MacKenzie Bezos are now worth $145 billion and $47\nbillion, up $20.3 billion and $7.1 billion for the week, respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Stocks of some of retail&#8217;s legacy players also spiked over\nthe week. Walmart shares hit an all-time high on Thursday after millions of\nAmericans received up to $1,200 per person to combat the coronavirus pandemic&#8217;s\neconomic toll. Shares rose 9% in the week through April 16, and the fortunes of\nAlice, Jim and Rob Walton, the children of Walmart founder Sam Walton, are each\nup roughly $3.8 billion. Combined, the siblings are worth close to $174\nbillion, or about $58 billion each.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" data-attachment-id=\"1246\" data-permalink=\"https:\/\/towncryyers.com\/index.php\/2020\/04\/19\/these-10-billionaires-gained-55-billion-this-week-as-retail-and-tech-stocks-surged\/the-walton-family\/\" data-orig-file=\"https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?fit=1920%2C1080&amp;ssl=1\" data-orig-size=\"1920,1080\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The-Walton-Family\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?fit=300%2C169&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?fit=1024%2C576&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?fit=1024%2C576&amp;ssl=1\" alt=\"\" class=\"wp-image-1246\" srcset=\"https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?w=1920&amp;ssl=1 1920w, https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?resize=300%2C169&amp;ssl=1 300w, https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?resize=1024%2C576&amp;ssl=1 1024w, https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?resize=768%2C432&amp;ssl=1 768w, https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?resize=1536%2C864&amp;ssl=1 1536w, https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?resize=777%2C437&amp;ssl=1 777w, https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?resize=260%2C146&amp;ssl=1 260w, https:\/\/i0.wp.com\/towncryyers.com\/wp-content\/uploads\/2020\/04\/The-Walton-Family.jpg?resize=120%2C67&amp;ssl=1 120w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><figcaption> Alice, Jim and Rob Walton, the children of Walmart founder Sam Walton, <\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Two Chinese billionaires are among the top gainers as the\ncountry continues to recover from the pandemic. Colin Zheng Huang, the founder\nand CEO of online discount retailer Pinduoduo, is now worth $21.4 billion after\na $2.1 billion bump. Shares of his Shanghai-based e-commerce platform climbed\n10% over the week and are back near their record high from November. The firm&#8217;s\nstock has steadily risen since it announced on March 31 it had raised $1.1\nbillion in a private placement to continue its expansion, despite\nbelow-expected revenue growth and expected losses due to the coronavirus\noutbreak.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, William Lei Ding of Nasdaq-listed internet and\ngaming company NetEase added $2 billion to his fortune while gaming firms\nworldwide rally thanks to more people staying at home with free time to burn.\nNetEase&#8217;s stock surged 11% over the past week, lifting Ding\u2019s net worth to\n$22.4 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are the world\u2019s 10 biggest billionaire gainers this\nweek:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jeff Bezos<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: Amazon<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: U.S.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $145 billion, up $20.3 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MacKenzie Bezos<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: Amazon<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: U.S.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $47.2 billion, up $7.1 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Elon Musk<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: Tesla<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: U.S.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $38.1 billion, up $6.1 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Alice Walton<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: Walmart<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: U.S.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $57.9 billion, up $3.8 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jim Walton<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: Walmart<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: U.S.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $58.1 billion, up $3.8 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Rob Walton<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: Walmart<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: U.S.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $57.6 billion, up $3.8 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Steve Ballmer<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: Microsoft<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: U.S.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $63.5 billion, $3.5 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Colin Zheng Huang<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: e-commerce<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: China<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $23.4 billion, up $2.1 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Larry Page<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: Alphabet\/Google<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: U.S.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $57.6 billion, up $2.1 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">William Lei Ding<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source of wealth: Online games<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Country: China<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net worth: $22.4 billion, up $2 billion<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Follow Jonathan Ponciano on Twitter. Send me a secure tip. <\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Jonathan Ponciano is a reporter at Forbes focusing on wealth and finance. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jonathan Ponciano (Forbes) Weeks into the coronavirus-induced market rout, the first round of economic stimulus relief in the United States coincided with lofty stock gains for companies reaping the benefits of changing consumer habits&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":1245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[316,317],"class_list":["post-1244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-billionaires","tag-stocks"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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