Following Trump’s election victory, the net worths of prominent billionaires such as Elon Musk, Jeff Bezos of Amazon, Larry Ellison of Oracle, and Warren Buffett experienced an increase.
The recent US election saw Republican candidate and former president Donald Trump emerge victorious, resulting in a staggering $26.5 billion increase in the net worth of his top supporter.
Elon Musk, who holds the title of the wealthiest individual on the planet, has emerged as a key advocate for Trump in this election cycle. He has contributed a significant sum of approximately $119 billion to the campaign and has consistently shown his support through X, his social media platform (previously known as Twitter).
After the election results, his companies saw a rally in shares, resulting in an increase of $26.5 billion in his net worth, now standing at $290 billion, as reported by the Bloomberg Billionaires Index.
Tesla’s stock on the Nasdaq surged by $37.09, marking a 14.75% increase to hit $288.53 per share. This rise follows a notable 18.81% increase over the last two days, jumping from $242.84 on November 4 to $288.53 on November 6.
Can you provide information on the billionaires whose net worth increased following the elections?
Jeff Bezos, the founder of Amazon and the second wealthiest individual globally, experienced a surge in his net worth by $7.14 billion following Trump’s win, reaching a total of $228 billion. Not only Musk benefitted from the outcome.
In a similar fashion, Larry Ellison, the co-founder and CTO of Oracle and the world’s fourth wealthiest individual, experienced a $9.88 billion increase in his net worth, bringing it to $193 billion. Warren Buffett, the chairman of Berkshire Hathaway and the ninth richest person, also saw a rise of $7.58 billion, elevating his net worth to $148 billion.
After the elections, what was the performance of the US stock market?
Following Trump’s inauguration as the 47th President of the United States, there was a notable surge in the overall performance of the US stock market.
The S&P 500 saw a 2.53% increase, hitting $5,929.04, the Dow Jones Industrial Average surged 1,508.05 points or 3.57%, reaching $43,729.93, the Nasdaq Composite experienced a 2.95% rise, reaching $18,983.46, and the Russell 2000 Index skyrocketed by 5.84%, reaching $2,392.92.
