Following Donald Trump’s victory in the November 5 U.S. presidential election, several American billionaires, particularly those with connections to cryptocurrency and other high-growth sectors, saw a significant rise in their net worth.
Elon Musk, a major financial supporter of Trump, experienced a substantial increase in wealth, gaining nearly $21 billion, which raised his net worth to approximately $290 billion. This surge was driven by a sharp spike in Tesla stock prices, with investors predicting that Musk’s companies could benefit from policies under Trump’s administration.
Other prominent billionaires also saw notable increases in their net worth. Oracle co-founder Larry Ellison gained $12 billion, Berkshire Hathaway’s Warren Buffet added $7.6 billion, and Amazon founder Jeff Bezos saw an increase of $7 billion. This upward trend in billionaire wealth highlights investor optimism regarding potential economic policy changes and regulatory shifts under the new administration.
