Following Donald Trump’s reelection, the world’s ten richest individuals experienced a staggering increase in their wealth, collectively gaining $64 billion in a single day. This remarkable surge was highlighted by Bloomberg’s Billionaire Index on November 7, 2024.Key Highlights:
- Elon Musk, the wealthiest person globally and a staunch Trump supporter, saw his fortune rise by $26.5 billion, bringing his total net worth to $290 billion.
- Jeff Bezos, founder of Amazon, added $7.1 billion to his wealth, while Larry Ellison, co-founder of Oracle, gained $5.5 billion.
- Other notable billionaires benefiting from this financial windfall included Bill Gates, Steve Ballmer, Larry Page, and Sergey Brin, among others. Although these individuals did not endorse any candidates this election cycle, they have historically supported Democratic initiatives.
The stock market reacted positively to Trump’s victory, with investors anticipating pro-business policies and deregulation that could favor the ultra-wealthy. The S&P 500 index recorded a 2.5% increase, marking one of its best post-election performances ever.Experts attribute this wealth surge to expectations of a favorable economic environment under Trump’s administration, particularly regarding tax policies and regulatory changes that could benefit major corporations and their leaders.
