The coronavirus pandemic has whiplashed global markets this year, sending stocks on a rollercoaster ride as the world rushed to contain the spread of COVID-19.
The market meltdown that bottomed on March 23 erased trillions from US stocks, swiftly ending the longest-ever bull market and dashing nearly all gains made since President Trump took office. In addition to the market rout, extreme volatility whipped through indexes in March, setting off a number of circuit breakers sometimes more than once a day.
Since the recent lows, however, US stocks have rebounded, even amid devastating economic data showing the fallout from coronavirus-induced lockdowns.
The S&P 500 has gained roughly 36% from March 23 through Wednesday's close, and is now only about 12% from its all-time high hit on February 19. The Dow Jones industrial average is up more than 37% from its March low, and is 15% below its February high.
The rebound rally has been led by technology stocks, which many investors see as poised to outperform both amid the pandemic and through a recession. The tech-heavy Nasdaq in early May erased all year-to-date losses as strong tech earnings and investor confidence fueled a rally. In addition, much of the indexes' gains are tied to Facebook, Apple, Amazon, Microsoft, and Alphabet, which make up 38% of the composite.
That's translated into billion-dollar gains for wealthy investors with sizeable amounts of money in the market. While the net worth of many billionaires has surged, it's important to note that accessing the money in the market would mean selling the stocks held.
Here are eight mega-billionaires that've seen their net worth increase so far this year, in order of lowest gain to highest.
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