AI Bubble Theory Gets a Reality Check: Tech Giants' Wealth Doubles, Stock Prices Soar

Last year, artificial intelligence became a global focus, causing dramatic changes in the wealth landscape of the tech industry. Some skeptics, including Michael Burry, famous for the movie “The Big Short,” warned that the tech sector was falling into an AI bubble. He believed that these tech companies were over-investing in chips, data centers, and other infrastructure to win in the AI race, which could eventually lead to a bubble burst. However, in stark contrast to these concerns, the wealth of tech giants not only did not shrink but continued to double, and AI and related tech stocks are soaring.

Tech Tycoons Amass New Highs Thanks to the AI Boom

According to the latest data, Amazon founder Jeff Bezos, and Alphabet co-founders Larry Page and Sergey Brin are approaching the $300 billion mark in personal wealth. Over the past few years, they have all been members of the $200 billion club. Now, with the AI boom reignited, this threshold is likely to be surpassed soon.

As of last Friday’s close, according to the Bloomberg Billionaires Index, Larry Page’s net worth is $281 billion, and Sergey Brin’s is $261 billion. Analysts predict that their wealth will increase by $101 billion and $92 billion respectively this year. This growth will make them the fastest-growing tech billionaires of the year, following Tesla and SpaceX CEO Elon Musk.

The surge in Larry Page and Sergey Brin’s wealth is mainly due to Alphabet’s strong stock performance. In 2025, Alphabet’s stock soared 65%, and since 2026, it has increased by another 4.5%. Investors are highly interested in the company’s AI business, believing its investments in AI and enterprise solutions will yield substantial returns. Additionally, the positive reception of Gemini 3 after its launch has further boosted confidence. Compared to Google co-founders, Bezos’s wealth growth has been relatively “slow,” increasing from $239 billion at the beginning of 2025 to $268 billion last Friday. This is mainly due to Amazon’s stock rising about 5% last year and approximately 6% so far this year, reflecting market expectations for returns on its AI investments.

Furthermore, Tesla founder Elon Musk’s net worth has reached $639 billion. Last year, Musk’s wealth increased by $165 billion, mainly driven by an 11% rise in Tesla’s stock price and SpaceX’s valuation skyrocketing from $350 billion to $800 billion. Since 2026, Musk’s wealth has increased by another $19 billion.

There are exceptions, such as Oracle founder Larry Ellison, whose wealth rapidly shrank after a brief surge

Notably, Oracle founder Larry Ellison set a record last September by adding $89 billion to his wealth in a single day, reaching a peak of $388 billion, even surpassing Musk at one point. However, as investor enthusiasm for Oracle’s AI prospects waned, his net worth fell back to $251 billion by last Friday’s close.

Currently, there are 18 “centibillionaires” worldwide, individuals with a net worth of at least $100 billion. Last year, their combined wealth increased by $708 billion, reaching $3.6 trillion, equivalent to the total market value of Microsoft. Among this elite group, eight have net assets exceeding $200 billion: Musk, Page, Bezos, Brin, Ellison, Zuckerberg, Huang Renxun, and LVMH CEO Bernard Arnault. Notably, except for Arnault, who comes from a traditional industry, the other seven hold substantial shares in leading global AI companies.

Investor enthusiasm for these AI-related tech companies continues to drive up stock prices, partly due to large cooperation contracts and high growth expectations. Investors Ross Goppert and Kevin O’Leary point out that AI could not only boost productivity but also increase corporate profits. For billionaires, this means their wealth may continue to grow at an astonishing rate in the future.

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