Elon Musk, Jeff Bezos and Other Billionaires Reap Huge Financial Gains as Donald Trump Clinches US Presidential Victory

Following Donald Trump’s victory in the last US presidential election, there was a significant increase in the net worth of top billionaires. Beneficiaries include prominent figures such as Elon Musk, Amazon’s Jeff Bezos, Oracle’s Larry Ellison and Berkshire Hathaway’s Warren Buffett, and each of these figures reaped significant financial gains as market confidence increased after the election.

How Much Did Musk Contribute to Trump’s Campaign?

Elon Musk, the richest person in the world and a big Trump supporter, reportedly contributed approximately $119 million to Trump’s campaign and frequently voiced his support on social media platform X (formerly Twitter). His endorsement and subsequent election results led to a remarkable $26.5 billion increase in Musk’s net worth, according to the Bloomberg Billionaires Index; this increase has now reached approximately $290 billion. This increase is attributed to the strong rise in Tesla shares, which closed at $288.53 on November 6, with a 14.75 percent increase following the election results.

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So What About Other Billionaires?

Other billionaires also made significant gains. The net worth of Amazon founder Jeff Bezos increased by $7.14 billion to $228 billion. Oracle co-founder Larry Ellison’s wealth increased by $9.88 billion, reaching $193 billion, while Warren Buffett’s wealth increased by $7.58 billion, reaching $148 billion.

The US stock market also rose, with major indexes showing significant gains. S&P 500 closed at $5,929.04 with an increase of 2.53 percent, Dow Jones Industrial Average closed at $43,729.93 with an increase of 1,508.05 points, or 3.57 percent, and Nasdaq Composite increased by 2.95 percent to $18,983.46. The Russell 2000 Index, an important indicator for small-cap stocks, closed at $2,392.92, up 5.84 percent.

Trump delivered victory speech He expressed his gratitude to his campaign team and supporters in West Palm Beach, Florida. He singled out Musk for his contributions, calling him a “super genius” and a crucial ally in his campaign. Trump praised Musk’s efforts, especially his campaign efforts in Pennsylvania, and celebrated his accomplishments in both business and technology to applause from the crowd.