Musk and Bezos are now worth almost half a trillion dollars

Under the billionaires’ tax proposal, Musk (pic) and Bezos collectively would have been hit with a US$100bil (RM415.50bil) one-time tax bill, payable over five years, if the proposal had been approved, according to the Bloomberg Billionaires Index. — Reuters

The combined net worth of Elon Musk and Jeff Bezos approached US$500bil (RM2.07 trillion) on Oct 27, fuelled by the unrelenting rally in Tesla Inc shares and a broad surge in tech stocks that sent the Nasdaq 100 to an intraday record.

The value of the two fortunes – a sum bigger than the market value of Johnson & Johnson and about equal to that of America’s biggest bank, JPMorgan Chase & Co – is yet another watershed moment in what’s shaping up to be a historic week for billionaires.