Edited by maklukpenggoda at 8-11-2024 12:35 PM
1 Elon Musk $290B +$26.5B +$61.3B United States
2 Jeff Bezos $228B +$7.14B +$51.5B United States
3 Mark Zuckerberg $202B -$80.9M +$74.4B United States
4 Larry Ellison $193B +$9.88B +$70.5B United States
5 Bernard Arnault $173B -$2.85B -$34.3B France
6 Bill Gates $159B +$1.82B +$18.8B United States
7 Larry Page $158B +$5.53B +$31.9B United States
8 Sergey Brin $149B +$5.17B +$29.1B United States
9 Warren Buffett $148B +$7.58B +$28.0B United States
10 Steve Ballmer $146B +$2.81B +$15.1B United States
The biggest gainer was Elon Musk, the world’s richest person and one of Trump’s most outspoken and dedicated supporters, whose wealth jumped $26.5 billion to $290 billion Wednesday, according to Bloomberg.
Amazon founder Jeff Bezos’ wealth grew $7.1 billion a week after defending his decision to withhold the Washington Post’s endorsement of Vice President Kamala Harris.
Oracle cofounder Larry Ellison, another Trump supporter, saw his net worth rose $5.5 billion Wednesday.
Other gainers include former Microsoft executives Bill Gates and Steve Ballmer, former Google executives Larry Page and Sergey Brin and Berkshire Hathaway CEO Warren Buffett.
Although none of those billionaires endorsed a candidate this year, they have spoken in favor of Democratic candidates and causes in the past.
Collectively, the top 10 richest people gained $64 billion.
Bloomberg notes it’s the “biggest daily increase” of wealth it’s seen since the index began in 2012,. The market rallied Wednesday as the election concluded swiftly and with expectations that Trump will usher in a new era of deregulation and other pro-business laws and policies investors believe could benefit the stock market overall — especially billionaires who hold much of the world’s wealth.
“There is this huge perception of business friendly, tax-friendly regime coming into place, especially with them winning the Senate,” said Michael Block, chief operating officer at AgentSmyth.
Truth Social owner Trump Media & Technology Group, Trump’s social media company, also cashed in with shares skyrocketing in value after CNN and other media outlets projected Trump won. The stock rose as much as 35% at one point before fading.
Trump is the dominant shareholder in the conservative social media company, which has scant revenue and is losing money. The president-elect’s 114.75 million shares were worth about $5.3 billion brieflybased on those early gains, up from $3.9 billion when trading ended on Election Day.
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Post time 8-11-2024 07:11 AM
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