Donald Trump has created history by defeating his opponent Kamala Harris in this year's US presidential election. This American billionaire is returning to the White House once again after 2016. It was confirmed on Wednesday (November 6).
But this day was not only auspicious for Donald Trump, it was also an unforgettable day for the top 10 richest people in the world. Because on this day their wealth increases immeasurably.
According to the Bloomberg Billionaires Index, their combined wealth added a record $64 billion that day.
Elon Musk, the world's richest man and one of Trump's closest supporters, achieved his biggest financial success on Wednesday. On this day, his wealth increased by 26.5 billion dollars to 290 billion dollars.
Amazon founder Jeff Bezos' wealth also increased by $7.1 billion on the day. A week earlier, however, he defended his decision to print the constitution to the Washington Post with the support of Vice President Kamala Harris.
Also on Wednesday, Trump supporter Oracle co-founder Larry Ellison's wealth increased by $5.5 billion.
Other individuals who benefited on the same day included 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 them have publicly supported any candidate in this election. Yet there is evidence that they have spoken on behalf of Democratic candidates in the past.
Meanwhile, according to Bloomberg, Wednesday's wealth increase was the "biggest single-day wealth increase" since the index was launched in 2012.
The big rally in the stock market came as the US election wrapped up quickly and investors believed that Trump was ushering in a new regulatory era and tax-friendly policies. Which helped to increase the wealth of rich people.
According to Michael Block, Chief Operating Officer of Agent Smith, this event has created a huge perception of a business-friendly and tax-friendly regime. Especially when Trump's party won the Senate as well.
Meanwhile, Trump's social media company Truth Social, owned by the Trump Media and Technology Group, also benefited significantly from the incident.
Shares of the company rose by nearly 35% after news of Trump's election victory. However, the share price later fell slightly. Yet the increase has brought Trump significant financial benefits.
Trump's share of $114.75 million rose by 3.9 billion to nearly $5.3 billion by the end of Election Day. Source: CNS
