The biggest gainer was Elon Musk, the world’s richest man and one of Trump’s staunchest supporters
Wednesday wasn’t just a good day for Donald Trump. The wealth of the world’s 10 richest people increased by a record amount, according to Bloomberg’s Billionaire Index.
The biggest gainer was Elon Musk, the world’s richest man and one of Trump’s staunchest supporters. His fortune jumped from $26.5 billion to $290 billion on Wednesday.
Amazon founder Jeff Bezos’ fortune grew by $7.1 billion a week.
Oracle co-founder Larry Ellison, another Trump supporter, saw his net worth increase by $5.5 billion on Wednesday.
Other winners include former Microsoft executives Bill Gates and Steve Ballmer, former Google executives Larry Page and Sergey Brin and Berkshire Hathaway CEO Warren Buffett.
In total, the 10 richest people earned $64 billion.
Bloomberg notes it’s the “biggest daily increase” in wealth seen since the index began in 2012. The market rallied Wednesday as the election wrapped up quickly and on expectations that Trump will usher in a new era of deregulation and other laws and policies. in favor of businesses that investors believe could benefit the stock market overall – especially the billionaires who own much of the world’s wealth.
“There’s this huge perception of a business-friendly, tax-friendly regime that comes into play, especially when they win the Senate,” said Michael Block, managing director at AgentSmyth.
The owner of Truth Social, Trump Media & Technology Group, Trump’s social media company, also cashed in with shares soaring after CNN and other media outlets predicted Trump would win. The stock rose as much as 35%.
Source :Skai
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