Billionaires’ wealth soars as Trump’s victory sparks market rally and crypto surge
The post Billionaires’ wealth soars as Trump’s victory sparks market rally and crypto surge appeared on BitcoinEthereumNews.com.
The fortunes of some of the world’s wealthiest individuals surged on Wednesday following Donald Trump’s presidential election victory. With high hopes for policies that could benefit corporations and the cryptocurrency sector, several billionaires saw remarkable increases in their net worth. Billionaire entrepreneur and Tesla CEO Elon Musk’s net worth skyrocketed by $20 billion following Donald Trump’s victory in the US presidential election. Forbes reported that Musk, one of Trump’s biggest financial backers, saw his net worth rise by almost 8% in one day to $285.6 billion. The stock price for Tesla, which the billionaire CEO holds 13%, has risen by a double-digit percentage since the start of Wednesday’s trading. Musk wasted no time celebrating Trump’s apparent victory, even before the election results were officially announced in the former president’s favor. On November 6, the CEO of Space X wrote on his social media site X that Trump had been granted a “crystal clear mandate for change.” In a separate post on Nov. 7 after the US Department of Justice abandoned its proceedings against Donald Trump, accusing him of fraud and conspiring to reverse the 2020 election fraudulently Musk said: The people of America have spoken and spoken with absolute clarity. ~Elon Musk Musk, who rallied with Trump in Pennsylvania, had a lot riding on the election, having spent at least $119 million to a super PAC backing the former president, according to The New York Times. Cryptocurrency leaders reap massive gains following Trump’s victory Jeff Bezos, the world’s second-wealthiest person after Musk, saw his net worth increase by $7 billion to $223.5 billion after Amazon shares surged 3.8% to an all-time high of $207 by the end of trading on November 6. Larry Ellison, co-founder of Oracle, also saw his wealth rise significantly, with his net worth growing by almost…
Filed under: News - @ November 7, 2024 8:18 pm