Elon Musk, Jeff Bezos, Mark Zuckerberg Gain Billions As US-China Tariff Truce Boosts Tech Billionaires' Fortunes

The recent relaxation of tariffs between the U.S. and China has sparked a significant market rally, with tech CEOs and founders reaping substantial benefits.

What Happened: The “magnificent seven” stocks, including Apple Inc. (NASDAQ:AAPL), Amazon.com Inc. (NASDAQ:AMZN), and Nvidia Corporation (NASDAQ:NVDA), collectively added nearly $830 billion to their market capitalization, as per a Forbes report.

Although Tesla's share price, at $318.38, remains below its all-time high of nearly $490, Elon Musk's net worth rose by $15 billion, reaching $359 billion, as per the Bloomberg Billionaire Index. The rally further solidified his position as the world's richest person.

Amazon‘s (NASDAQ:AMZN) founder, Jeff Bezos, and Meta Platforms (NASDAQ:META) CEO, Mark Zuckerberg, also saw their net worth rise by $14 billion and $16 billion, respectively. However, both still trail Musk by nearly $130 billion.

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Why It Matters: The U.S. and China agreed to reduce tariff rates, a move that could propel technology stocks to new heights, according to Wedbush’s Dan Ives. The stock of Amazon climbed 8.07%, Meta Platforms rose 7.92%, while Tesla was up 6.75% on Monday. Tesla, led by Musk, surpassed a $1 trillion valuation for the first time since late February.

The 90-day tariff pause between the U.S. and China has resulted in a market rally and positive sentiment. However, experts warn that this is not a definitive end to the trade war, leaving significant long-term uncertainty. The news triggered an immediate positive market response, with stocks and oil prices rebounding, potentially leading to lower costs for businesses and consumers.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.