Billionaire Fortunes Surge Following U.S. Election, Led by Musk’s Record Gains

Following Donald Trump’s victory in the U.S. presidential election, eight of America’s wealthiest individuals saw unprecedented gains. According to the Bloomberg Billionaires Index, these top billionaires collectively gained $63.5 billion on Wednesday. While nine Americans and one Frenchman hold the highest positions on the list, the only American billionaire who saw a decline was Facebook CEO Mark Zuckerberg. His net worth fell by $80.9 million, leaving him at $202 billion on Thursday, November 7. The sole billionaire outside the U.S. within the top ten, French businessman Bernard Arnault, also experienced a decrease in wealth, with a $2.8 billion drop in net worth.

According to Bloomberg’s Billionaires Index, here’s how the wealth of America’s richest surged and who benefited the most:

1. Elon Musk

Tesla and SpaceX CEO Elon Musk was the biggest gainer, with his wealth soaring by $26.5 billion. Musk’s net worth now stands at $290 billion, attributed in part to his support for Trump. Trump has even suggested Musk could hold a position in his administration. In an October rally in New York, Musk was prominently seen supporting Trump as he rallied alongside him at Madison Square Garden.

2. Jeff Bezos

Amazon founder Jeff Bezos saw a $7.14 billion increase, bringing his net worth to $228 billion. This boost came just days after Bezos explained his choice not to have The Washington Post, which he owns, endorse Vice President Kamala Harris. According to CNN, Bezos’ financial rise aligns with this decision to remain politically neutral.

3. Larry Ellison

Oracle co-founder Larry Ellison, another prominent Trump supporter, saw his fortune grow by around $10 billion, taking him to a net worth of $193 billion as of Thursday.

4. Bill Gates

Bill Gates, the Microsoft co-founder, saw a significant rise in his wealth, with a $1.82 billion increase, reaching $159 billion. The Bloomberg Billionaires Index reported Gates’ net worth was buoyed despite him not endorsing a candidate this election cycle.

5. Larry Page

Former Alphabet CEO and Google co-founder Larry Page also saw a notable increase in his wealth, gaining $5.53 billion. His net worth now stands at $158 billion.

6. Sergey Brin

Google co-founder Sergey Brin’s wealth rose by $5.17 billion, boosting his net worth to $149 billion.

7. Warren Buffett

Berkshire Hathaway CEO Warren Buffett’s net worth saw a $7.58 billion increase, rising to $148 billion. Known for his long-standing support of Democratic causes, Buffett did not endorse any candidate this election.

8. Steve Ballmer

Steve Ballmer, former CEO of Microsoft, experienced a $2.81 billion increase in wealth, bringing his net worth to $146 billion. Like Gates and Buffett, Ballmer also refrained from openly supporting a candidate this year but has historically backed Democratic initiatives.

These billionaires, despite varying political leanings, benefited collectively as the Bloomberg Billionaires Index calculated an overall gain of $63.5 billion in their net worth. This significant rise comes amid Trump’s confirmed win in the election, with U.S. media projecting he will secure over 300 electoral votes. In December, Trump is expected to be officially recognized as the next U.S. president after winning the popular vote on November 5.

Though Elon Musk has been vocal in his support for Trump, many of these billionaires, including Gates, Ballmer, Page, Brin, and Buffett, have historically endorsed Democratic causes or candidates.