The Fortunes of the World's Wealthiest Individuals Surged on Wednesday Following Donald Trump's Presidential Election Victory
- Linda HamiltonOriginal
- 2024-11-08 10:22:171098browse
With high hopes for policies that could benefit corporations and the cryptocurrency sector, several billionaires saw remarkable increases in their
Several of the world’s wealthiest individuals saw their fortunes surge on Wednesday as the US presidential election results became clearer, with high hopes for policies that could benefit corporations and the cryptocurrency sector.
Elon Musk wasted no time celebrating Donald Trump’s apparent victory, even before the election results were officially announced in the former president’s favor. On Nov. 6, the CEO of Space X wrote on his social media site X that Trump had been granted a “crystal clear mandate for change.”
In a separate post on Nov. 7 after the US Department of Justice abandoned its proceedings against Donald Trump, accusing him of fraud and conspiring to reverse the 2020 election fraudulently Musk said:
The people of America have spoken and spoken with absolute clarity.
Musk, who rallied with Trump in Pennsylvania, had a lot riding on the election, having spent at least $119 million to a super PAC backing the former president, according to The New York Times.
Cryptocurrency leaders reap massive gains following Trump’s victory
Jeff Bezos, the world’s second-wealthiest person after Musk, saw his net worth increase by $7 billion to $223.5 billion after Amazon shares surged 3.8% to an all-time high of $207 by the end of trading on November 6.
Larry Ellison, co-founder of Oracle, also saw his wealth rise significantly, with his net worth growing by almost $12 billion to $220.8 billion. Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, also gained $7.6 billion, bringing his total fortune to $147.4 billion as Berkshire Hathaway shares climbed over 5%.
Investors see massive gains as Bitcoin hits All-Time High
Coinbase CEO Brian Armstrong also had a fantastic day, with a $2.6 billion boost, raising his net worth to roughly $11 billion after the company’s shares rose 31% on November 6. MicroStrategy inventor and Bitcoiner Michael Saylor’s estimated net worth increased by over $600 million to $6.6 billion after company shares rose 13%, matching its monthly high of $258.
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