Trump Wins, Elon Musk's Wealth Until Jeff Bezos Soars With Highest Record
JAKARTA - Wednesday is not just a good day for Donald Trump. The wealth of the 10 richest people in the world has also soared with a record high, according to Billionaire Index Bloomberg.
The biggest winner was Elon Musk, the richest person in the world and one of Trump's most vocal and dedicated supporters, whose fortune jumped 26.5 billion US dollars to 290 billion US dollars on Wednesday, November 6, according to Bloomberg.
Amazon founder Jeff Bezos' wealth rose 7.1 billion US dollars a week after defending his decision to contain Washington Post's support for Vice President Kamala Harris.
Oracle co-founder Larry Ellison, who is also a Trump supporter, has seen a net worth of 5.5 billion dollars increase.
Other profit winners include former Microsoft executives Bill Gates and Steve Ballmer, former Google executives Larry Page and Sergey Brin and Berkshire Hathaway CEO Warren Buffett.
While none of the billionaires support a candidate this year, they have supported Democratic candidates and destinations in the past.
Collectively, the 10 richest people earned 64 billion US dollars.
Bloomberg notes this is the largest daily gain seen since the index began in 2012.
The market rose on Wednesday when elections ended quickly and hopes Trump will usher in a new era of deregulation as well as other pro-business laws and policies that investors believe could benefit the stock market as a whole, especially billionaires who have most of the world's wealth.
There is a big perception of a business-friendly and tax-friendly regime, especially with their victory in the Senate, said Michael Block, chief operating officer at AgentSmyth.
Truth Social owner Trump Media & Technology Group, social media company Trump, also made a profit with skyrocketing stock value after CNN and other media projected Trump to win. Its shares rose 35% at one point before fading.
Trump is the dominant shareholder in the conservative social media company, which has little revenue and losses. Based on the initial acquisition, the elected president's 114.75 million shares were worth about 5.3 billion US dollars, up from 3.9 billion US dollars when trading ended on Election Day.