PANews, November 7th, reported by Bloomberg, as Trump wins re-election, the wealth of American and global billionaires surges, with the net worth of the world's top ten billionaires increasing by a record $63.5 billion in a single day. Tesla CEO Elon Musk saw his fortune increase by $26.5 billion, while Amazon founder Bezos and Oracle chairman Ellison were also major beneficiaries. This is the largest single-day increase since the Bloomberg Billionaires Index was established in 2012.
Trump's victory drove a surge in the U.S. stock market, with the S&P 500 index rising by 2.5%, marking the best performance since the election. The market bets that Trump will implement low taxes and loose regulatory policies, boosting U.S. financial assets, especially stocks and the dollar. Additionally, the net worth of crypto billionaires like Coinbase CEO Brian Armstrong and Binance founder Changpeng Zhao also significantly increased, with Zhao's wealth rising to $52.7 billion.
