How the World's Biggest Fortunes Have Grown Since Trump's Election
Nine of the world’s 10 wealthiest people saw their multibillion-dollar fortunes swell the day after Donald Trump was declared the winner in the Nov. 5 presidential election. And in the week since, their net worths have grown billions more.
Only Bernard Arnault, the CEO and chairman of LVMH Moët Hennessy Louis Vuitton, has seen his net worth dip as of Wednesday, although he remained the planet’s fifth wealthiest individual.
Fortunes for the nine other multibillionaires jumped the day after the election, with the wealthiest — high-profile Trump supporter and Tesla CEO Elon Musk — leading the pack with more than a 10% one-day gain. The top 10 gained $64 billion total overnight, Bloomberg reported last week.
Musk also leads the net-wealth boom since then, according to Bloomberg. The 10 wealthiest people netted $112.5 billion from Nov. 5 to market close Wednesday.
Other than luxury consumer brand powerhouse Arnault and investing titan Warren Buffett, the top 10 wealthiest list comprises major tech industry leaders connected to Microsoft, Oracle, Meta, Amazon and Google, in addition to Tesla. Five of the “Magnificent 7” megacap stocks are represented.
As Bloomberg reported, Silicon Valley expects less government regulation, including fewer restrictions on artificial intelligence, and a more welcoming environment for cryptocurrency under the Trump administration.
How long the election boost endures remains to be seen.
Stocks associated with the top 10 wealthiest showed mixed results Thursday and in the past five days. Tesla stock is up nearly 30% year to date, 47% in the past month and 7.5% in the past five days, although it slipped Thursday.
Facebook parent Meta also fell Thursday, as did Oracle, Google parent Alphabet, Amazon and Buffett’s Berkshire Hathaway; LVMH and Microsoft traded higher midday.
Check out the gallery for the world's 10 richest people and how their fortunes have grown — or shrunk — since the election, according to our analysis of the Bloomberg Billionaires Index.
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