Donald Trump may appear to be the big winner of the US Presidential Polls but he is definitely not alone as Bloomberg’s Billionaire Index indicates that the wealth of one of his most vocal supporters, Elon Musk and nine others experienced an unprecedented boost.
Musk saw the largest gain as his net worth surged by $26.5 billion, followed by Amazon founder Jeff Bezos who gained $7.1 billion just a week after preventing his media outlets from endorsing Vice President Kamala Harris.
Another Trump supporter and Oracle co-founder Larry Ellison saw his fortune increase by $5.5 billion.
Others beneficiaries included former Microsoft executives Bill Gates and Steve Ballmer, former Google executives Larry Page and Sergey Brin, and Berkshire Hathaway CEO Warren Buffett who did not endorse any candidate in this election cycle.
The market rallied Wednesday as the election concluded swiftly and with expectations that Trump will usher in a new era of deregulation and other pro-business laws and policies investors believe could benefit the stock market overall — especially billionaires who hold much of the world’s wealth.
Bloomberg notes that the 10 wealthiest people gained a record $64 billion in one day, making it the biggest daily increase in wealth recorded since the index was established in 2012.
