BY EMMANUEL OLUKOTUN 

A big stock market rally has suddenly seen four of the world’s tech billionaires making a combined $50 billion profit, with the CEO of META Mark Zuckerberg, being the highest beneficiary.

The development was as a result of the temporary suspension of tariffs between the United States and China, which occasioned the largest single day market jump for the Magnificent 7 tech stocks since April 9.

According to Forbe’s estimates, Zuckerberg made the most gain, as his worth jumped by $16 billion (97.83% increase) to $220.9 billion, cementing his position as third world richest man.

Zuckerberg is followed by Amazon Founder, Jeff Bezos. He gained $14.2 billion, to make his total net worth $223.6 billion. Positioning him as the world’s second richest person.

In 2021, Jeff Bezos stepped down as the CEO of Amazon but remains the firm’s executive chairman and owns only 10% of its shares.

Amazon’s share rose by 8% as investors hope for  smoother imports and reduction in cost for those who depend on Chinese products.

For Elon Musk, the CEO of Tesla, SpaceX and xAI, he added $11.3 billion, as his net worth soared to $406.9 billion, again crowning him as the wealthiest man in the world.

Larry Ellison garnered $8.2 billion with his worth net at $196.1 billion. The billionaire owns about 40% shares of the company and benefits largely from the aggressive growth strategy of the company.

Other business entities who have been stretched as a result of the US-China  tariff tensions like Semiconductor, Nivida, AMD, Broadcom and Qualcomm, also experienced some boost in shares.