Donald Trump's win causes Bilioniares' Fortune to Soar

The fortunes of the world’s top ten wealthiest people skyrocketed after Donald Trump won a second term as President. Led by Tesla’s CEO Elon Musk, the combined net worth of the ultra-rich jumped by $63.5 billion in a single day on Wednesday, marking the largest increase in the Bloomberg Billionaires Index since its launch in 2012. Musk’s wealth alone rose by $26.5 billion, while Amazon’s Jeff Bezos and Oracle’s Larry Ellison also reaped substantial gains.

The surge in billionaires' wealth follows a strong rally in U.S. stocks, fueled by investor optimism about Trump’s anticipated policies, which are expected to include lower taxes and reduced regulations. On Wednesday, the S&P 500 index spiked by 2.5%, setting a record for the best post-election performance. Meanwhile, the U.S. dollar strengthened, further contributing to gains in financial markets.

“US financial assets, especially equities and the US dollar, should experience a boost,” wrote Samy Chaar, chief economist at Lombard Odier, and Luca Bindelli, head of investment strategy, in a note to their clients.

Elon Musk, the world’s wealthiest individual, is expected to gain additional influence under Trump’s administration, as the President has hinted at giving Musk an official role. Tesla shares surged 15% on Wednesday, extending the company’s 32% increase in stock value over the past year.

Crypto billionaires also benefited significantly. Brian Armstrong, CEO of Coinbase, saw his net worth rise by 30% to $11 billion, while Binance founder Changpeng Zhao’s wealth increased by $12.1 billion, reaching $52.7 billion.

The only non-American billionaire in the top ten, LVMH’s Bernard Arnault, also enjoyed gains from the broader market rally, demonstrating how Trump’s re-election has bolstered confidence in financial markets globally.