Wednesday brought more than just a political victory for Donald Trump; it also marked a historic financial windfall for the world’s wealthiest individuals. According to Bloomberg’s Billionaire Index, the top 10 richest people collectively saw their net worth skyrocket by a staggering $64 billion — the largest single-day increase recorded since the index’s inception in 2012.
1. Elon Musk: The Biggest Winner
The biggest beneficiary of this financial surge was Elon Musk, the world’s richest person. The Tesla and SpaceX CEO, who has been a vocal supporter of Trump, experienced a jaw-dropping $26.5 billion boost to his wealth, bringing his total fortune to $290 billion. Musk’s strong ties to pro-business policies and deregulation efforts under a Trump administration likely fueled investor optimism, sending Tesla’s stock soaring.
2. Jeff Bezos: A Reluctant Billionaire Gainer
Amazon founder Jeff Bezos also had a lucrative day, gaining $7.1 billion. This windfall came shortly after he publicly defended Amazon’s decision to withhold an endorsement from the Washington Post — a newspaper he owns — for Vice President Kamala Harris. While Bezos has generally leaned more liberal in his philanthropic efforts, he has occasionally taken positions that align with business-friendly agendas.
3. Larry Ellison: Riding the Trump Wave
Oracle cofounder Larry Ellison, a staunch Trump supporter, added $5.5 billion to his fortune on Wednesday. Ellison’s enthusiasm for Trump’s administration is well-documented, and his company’s significant government contracts have made his alliance with Trump financially advantageous. The anticipation of further deregulation only seems to strengthen Oracle’s market position.
4. Bill Gates: Champion of Global Health, Now Even Wealthier
Bill Gates, cofounder of Microsoft, added to his fortune as markets surged. Gates, known for his philanthropic efforts in global health and education, has often supported Democratic causes. However, his wealth is heavily tied to tech investments, which benefited from investor optimism about a pro-business administration. Gates’ net worth increased significantly as tech stocks climbed, reflecting the broad appeal of favorable economic policies.
5. Steve Ballmer: Microsoft’s Former CEO Benefits
Steve Ballmer, former CEO of Microsoft and current owner of the Los Angeles Clippers, also saw a notable increase in his wealth. Ballmer has generally stayed out of the political endorsement arena, but his financial portfolio, dominated by tech investments, reacted positively to the market rally. The anticipation of deregulation and a business-friendly environment further strengthened the value of his assets.
6. Larry Page: Google’s Co-Founder Cashes In
Larry Page, cofounder of Google, was another major beneficiary of Wednesday’s wealth surge. Though Page has been less vocal about political affiliations, he has supported Democratic initiatives in the past, particularly in the realm of climate change and technology. Nevertheless, his extensive investments in Alphabet and other tech ventures thrived as market confidence grew, adding billions to his fortune.
7. Sergey Brin: Another Google Co-Founder Grows Richer
Sergey Brin, the other cofounder of Google, also enjoyed a wealth increase alongside Page. Brin, who has historically championed scientific research and environmental causes, saw his net worth soar as Alphabet’s stock price climbed. Like other tech billionaires, Brin benefited from the expectation that a Trump-led administration would favor innovation and limit regulatory hurdles, boosting the tech sector’s overall performance.
8. Warren Buffett: A Surprising Boost
Berkshire Hathaway CEO Warren Buffett, who has historically supported Democratic candidates and causes, was another big winner. Despite his liberal leanings, Buffett’s diversified portfolio flourished as markets rallied, showcasing the nonpartisan impact of a stable and pro-business economic outlook. Buffett’s holdings, ranging from railroads to financial services, reacted positively to the prospect of a Trump administration.
9. Mark Zuckerberg: A Quiet Windfall
Meta Platforms CEO Mark Zuckerberg also saw his wealth rise, even though he has been relatively quiet in the political arena this cycle. Zuckerberg’s gains came from a surge in Meta’s stock, driven by investors’ belief that a pro-business administration could benefit tech giants. His past support for free speech and data privacy initiatives aligns with many investors’ views on limited regulation.
10. Amancio Ortega: The Retail Tycoon Cashes In
Rounding out the list is Amancio Ortega, founder of Inditex, the parent company of Zara. Ortega’s wealth climbed as global markets rallied, boosting retail stocks. Despite being less involved in U.S. politics, Ortega’s fortune was buoyed by investor optimism around international trade policies and deregulation, both of which could benefit the retail sector.
