Trump In The White House: Who Are The Billionaires Who Benefited From It?

The stunning victory of Donald Trump in the American presidential election triggered an unprecedented financial tsunami on Wall Street. In just one historic day, the ten richest fortunes on the planet saw their wealth soar by $63.5 billion, marking the largest increase ever recorded by the Bloomberg Billionaires Index since its inception in 2012.

Billionaires pocket $63 billion after Trump’s victory

On November 6, 2024, in the immediate aftermath of the announcement of Trump’s victory, Wall Street ignited. Elon Musk, a fervent supporter of the Republican candidate, emerged as the big winner of this exceptional day. The CEO of Tesla and X (formerly Twitter) saw his personal fortune explode by $26.5 billion, fueled by a staggering 15% rise in Tesla’s stock in pre-market trading.

The other tech titans were not left out. Jeff Bezos, founder of Amazon, enriched his empire by $7.14 billion, while Larry Ellison, CEO of Oracle, recorded a spectacular gain of $9.88 billion. Google co-founders Larry Page and Sergey Brin added $5.53 billion and $5.17 billion to their fortunes, respectively.

The legendary Warren Buffett, despite his traditionally Democratic political positions, did not escape this bullish wave, earning $7.58 billion for Berkshire Hathaway.

A historic day for the ultra-rich

The financial markets demonstrated their enthusiasm in the face of the prospect of a second Trump term, sending the three major indices to historical highs. The Dow Jones soared 3.57%, followed by the Nasdaq (+2.95%) and the S&P 500 (+2.53%).

This stock market euphoria is largely explained by investors’ expectations regarding Trump’s economic program. Promises of massive tax cuts and regulatory relief particularly captivated Wall Street, reminiscent of the prosperous period of Trump’s first term.

However, not everyone benefited from this rising tide. Mark Zuckerberg, the third richest person in the world, suffered a loss of $80.9 million, while Bernard Arnault, the French luxury magnate, saw $2.85 billion of his fortune evaporate.

These spectacular movements illustrate the considerable impact that political decisions can have on global financial markets. As Trump prepares to reinvest in the White House, Wall Street seems to be betting heavily on a new cycle of economic growth driven by pro-business policies.