Donald Trump's victory in the U.S. presidential election on November 5 led to a record surge in the wealth of the ten richest people in the world, as reported by Bloomberg referencing the billionaire index.
In total, the wealth of billionaires increased by $64 billion, marking the largest single-day gain since the launch of the Bloomberg Billionaires Index in 2012.
Leading the list, Elon Musk saw his fortune grow by $26.5 billion, with his net worth increasing by more than 10% in just one day, reaching $290 billion. Tesla's stock rose by 15%, hitting $288.5 per share—the highest since 2022. The annual growth of the automaker's shares has exceeded 32%.
Elon Musk is among the largest backers of Donald Trump's presidential campaign, and the politician himself has promised to appoint the billionaire as head of a government efficiency commission.
Following Musk, the next major beneficiaries were Amazon founder Jeff Bezos and Oracle co-founder Larry Ellison. Their fortunes increased due to a significant rise in the U.S. stock market, where the S&P 500 index climbed by 2.5%.
The image illustrates the wealth of the ten richest individuals in the world and their one-day gains following Donald Trump's election victory.
Source: Bloomberg Billionaires Index
The wealth of Meta founder Mark Zuckerberg remained unchanged. Previously, Trump criticized Zuckerberg for donating $420 million to improve electoral infrastructure in 2020, claiming that he attempted to influence the elections. In his book "Saving America," Trump accused Zuckerberg of conspiracy and threatened him with imprisonment.
Additionally, Coinbase co-founder and CEO Brian Armstrong increased his wealth by 30%, bringing it to $11 billion, while Binance founder Changpeng Zhao added $12.1 billion to his fortune, reaching $52.7 billion.
Shares of Trump Media, founded by Donald Trump, surged temporarily—on Nasdaq trading on November 6, the company's stock rose by 59.96%, peaking at $54.29 per share. Later, the shares fell but ended the day with a 6% increase compared to the start of trading.
Moreover, in the wake of Trump's victory, several cryptocurrencies also saw price increases. Following this, stocks of companies in the crypto space rose—Coinbase shares gained 30% in a day, while MicroStrategy increased by 13%.
Shares of oil giants Chevron and ExxonMobil rose by 3% amid Trump's promises to boost domestic production. Conversely, stocks of renewable energy companies like NextEra Energy and First Solar fell by 5% and 10%, respectively, due to the prospect of a shift towards traditional energy sources.
Expectations of a potential repeal of tax benefits for electric vehicles led to an 8% drop in Rivian's shares. In contrast, traditional automakers saw gains: Ford rose by 5%, and General Motors by 2.5%.
Economists note that U.S. financial assets, particularly stocks and the U.S. dollar, are likely to gain momentum due to expectations of lower taxes and reduced regulation promised by Trump.
Earlier, Spot reported on how the ten richest people in the world lost $66 billion in a single day.