The re-election of Donald Trump on Wednesday brought a major financial windfall for the world’s wealthiest, with the top 10 billionaires’ wealth collectively increasing by $64 billion — the largest single-day rise recorded by Bloomberg’s Billionaire Index since its inception in 2012.
Biggest Gainers Among Billionaires
Leading the gains was Elon Musk, the wealthiest individual globally and an outspoken Trump supporter, who saw his net worth soar by $26.5 billion to $290 billion. Following him, Amazon founder Jeff Bezos added $7.1 billion, shortly after explaining his reasons for not endorsing Vice President Kamala Harris in the recent election. Another key Trump supporter, Oracle co-founder Larry Ellison, saw his net worth jump $5.5 billion.
Other billionaires, including former Microsoft leaders Bill Gates and Steve Ballmer, as well as ex-Google executives Larry Page and Sergey Brin, also saw substantial gains, along with Warren Buffett, CEO of Berkshire Hathaway. While these figures did not endorse a particular candidate, some have previously backed Democratic causes.
Market Surge and Investor Optimism
This record-breaking wealth gain reflects market optimism about pro-business policies expected during Trump’s second term, with expectations for deregulation and business-friendly tax policies. The stock market surged Wednesday as investors anticipated a swift return to a pro-business climate, likely benefiting major corporations and high-net-worth individuals.
“There’s a huge perception of a business-friendly, tax-friendly regime under Trump, especially with the Senate’s support,” commented Michael Block, COO of AgentSmyth.
Trump Media Soars
The re-election win also boosted Trump Media & Technology Group. Shares of the company, which owns the Truth Social platform, skyrocketed by as much as 35% before leveling out. Trump, the company’s major shareholder, saw his holding value peak at $5.3 billion, a sharp increase from $3.9 billion on Election Day.
With expectations for policies favoring economic growth and investor confidence, Trump’s re-election has significantly enriched the world’s wealthiest and set the stage for an era of pro-market reforms.
