Trump’s Victory Brought Elon Musk $26 Billion
Jeff Bezos and Other Tycoons Also Profited
Following Donald Trump’s victory in the presidential election, several of the world’s wealthiest people saw significant gains in their fortunes. Elon Musk, the head of Tesla, saw the biggest profit — his wealth increased by $26.5 billion in just one day.
The reason for this was the remarkable surge in assets of many companies following the U.S. elections, according to Bloomberg. Specifically, Tesla’s shares in New York rose by 15% at the end of trading, boosting the company’s annual growth to 32%.
According to the publication’s estimates, Trump’s victory brought a record $63.5 billion to several other magnates. In addition to Musk, Amazon founder Jeff Bezos increased his wealth by $7 billion.
Others who saw gains included Oracle co-founder Larry Ellison, whose fortune grew by nearly $10 billion in a day; Berkshire Hathaway’s Warren Buffett, who gained $7.58 billion; Google co-founder Larry Page, with an increase of $5.53 billion; and Binance founder Changpeng Zhao, whose capital rose by $12.1 billion in a day.
Interestingly, Musk reportedly invested heavily in Trump’s campaign. Western media reported that Elon sponsored the Republican with $130 million, and in return, Trump promised to appoint Musk to an official position in the government.
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