Trump’s Re-Election Spurs Record $64 Billion Surge For World’s Wealthiest

Republican Donald Trump’s US presidential election victory over his Democrat rival Kamala Harris has triggered an unprecedented surge in the net worth of the world’s 10 richest individuals, who collectively gained $64 billion.

This remarkable growth is the largest since Bloomberg‘s Billionaires Index inception in 2012.

Here’s how they fared:

• Elon Musk: Tesla and SpaceX CEO Elon Musk’s fortune soared by $26.5 billion to an incredible $290.3 billion.
• Jeff Bezos: Amazon founder Jeff Bezos saw his net worth jump by $7.1 billion — roughly 3.2 per cent — bringing him to $228.3 billion.
• Mark Zuckerberg: Meta’s Mark Zuckerberg held steady with a net worth of $202.5 billion, unchanged despite significant market shifts.
• Larry Ellison: Oracle co-founder and Trump ally Larry Ellison enjoyed a $5.5 billion gain, pushing his net worth up 5.4 per cent to $193.5 billion.
• Bernard Arnault: LVMH Chairman Bernard Arnault, the only person in the top 10 list based out of the US, experienced a slight dip of 1.6 per cent, landing at $173.2 billion.
• Bill Gates: Microsoft co-founder Bill Gates saw a modest 1.2 per cent increase, with his wealth climbing to $159.5 billion.
• Larry Page and Sergey Brin: Google co-founders Larry Page and Sergey Brin both posted 3.6 per cent gains. While Page’s wealth reached $158.3 billion, Brin’s climbed to $149.1 billion.
• Warren Buffett: Berkshire Hathaway’s Warren Buffett added $7.5 billion, growing his net worth by 5.4 per cent to $147.8 billion.
• Steve Ballmer: Former Microsoft CEO Steve Ballmer saw his fortune rise by 2 per cent to $145.9 billion.
• Binance founder Changpeng Zhao’s wealth increased by $12.1 billion to reach $52.7 billion, while Coinbase CEO Brian Armstrong’s fortune surged by 30 per cent, adding $11 billion to his portfolio.

According to Bloomberg, much of this wealth boost is due to a post-election rally in US stocks, with the S&P 500 hitting a record 2.5% gain — the strongest post-election surge in history. The US dollar also gained, said Bloomberg, impacting these billionaires’ financial positions.