Donald Trump’s victory in the U.S. presidential election has already brought financial gains for the world’s wealthiest.
According to Bloomberg, the fortunes of the world’s ten richest individuals surged by a record $64 billion in a single day following Trump’s win, marking the largest daily wealth increase since Bloomberg began tracking billionaire data in 2012.
Leading the gains was Elon Musk, a close Trump ally who received praise in Trump’s victory speech. Musk’s wealth rose by $26.5 billion, bringing his total net worth to $290.3 billion, as shares of his electric car company, Tesla, jumped 14.8%.
Others benefiting included Jeff Bezos, who saw his net worth increase by $3.2 billion to $228.3 billion after Amazon stock rose 3.8%. Bezos had blocked The Washington Post, which he owns, from supporting Trump’s rival, Kamala Harris.
Oracle founder Larry Ellison’s wealth grew by $5.4 billion to $193.5 billion, as Oracle shares climbed 5.5%.
The surge in billionaire wealth was largely attributed to a stock market rally on expectations that Trump will advocate for tax cuts and reduced regulation. The S&P 500 index rose by 2.5%, achieving its best-ever performance on the day after a U.S. presidential election.
Crypto industry leaders also saw significant gains. Coinbase CEO Brian Armstrong’s wealth jumped by over 30% to $11 billion, with Coinbase shares rising 31.1%. Similarly, Binance founder Changpeng Zhao, recently released from prison, added $12.1 billion to his fortune, now totaling $52.7 billion.
Among the top ten, only two saw no increase. Mark Zuckerberg’s net worth remained steady at $202.5 billion as Meta shares dipped 0.1%. Bernard Arnault, CEO of luxury giant LVMH and the only non-U.S.-focused billionaire on the list, lost $1.6 billion, lowering his net worth to $173.2 billion.
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