The ten richest people in the world have become a record $64 billion richer as a result of Trump’s re-election

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CNN
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Wednesday wasn’t just a good day for Donald Trump. According to Bloomberg’s billionaire index, the wealth of the world’s ten richest people also rose by a record.

The biggest gainer was Elon Musk, the world’s richest person and one of Trump’s most outspoken and committed supporters, whose fortune rose by $26.5 billion to $290 billion on Wednesday, according to Bloomberg. Amazon founder Jeff Bezos’ fortune grew by $7.1 billion each week after he defended his decision to deny Vice President Kamala Harris’ endorsement to The Washington Post. Oracle co-founder Larry Ellison, another Trump supporter, saw his net worth rise by $5.5 billion on Wednesday.

Other winners include former Microsoft executives Bill Gates and Steve Ballmer, former Google executives Larry Page and Sergey Brin, and Berkshire Hathaway CEO Warren Buffett. Although none of these billionaires endorsed a candidate this year, they have supported Democratic candidates and causes in the past.

Collectively, the ten richest people earned $64 billion.

Bloomberg notes that it is the “largest daily wealth gain” since the index began in 2012. The market rallied on Wednesday as the election quickly came to a close and with expectations that Trump will usher in a new era of deregulation and other business-friendly laws and policies that investors believe could benefit the stock market as a whole – especially the billionaires who own much of the world’s wealth.

“There’s a big feeling that a business-friendly, tax-friendly system is coming into effect, especially after they won the Senate,” said Michael Block, chief operating officer at AgentSmyth.

Trump Media & Technology Group, owner of Truth Social, Trump’s social media company, also benefited from a soaring stock value after CNN and other media outlets predicted a Trump victory. The shares temporarily rose by up to 35% before weakening again.

Trump is the main shareholder in the conservative social media company, which generates little revenue and loses money. The president-elect’s 114.75 million shares were briefly worth about $5.3 billion based on those early gains, up from $3.9 billion when trading ended on Election Day.