Written by: Frank, PANews
The dust has settled on the 2024 US presidential election. Trump's victory not only attracted global attention, but also set off new waves in the business world. Many business tycoons have become winners in this political game, and their wealth has been significantly improved in a short period of time.
In addition, due to Trump's friendly attitude towards the crypto world, this political game has obviously brought the crypto world a glorious moment. The recent market performance also confirms this. Bitcoin continues to break new highs, reaching a high of $89,000 on the morning of November 12. Various mainstream coins and MEME coins have collectively risen, and the entire crypto industry seems to have finally ushered in a carnival moment of victory. A week after the election, PANews counted the top ten winners of Trump's victory from the perspective of public wealth appreciation in the market, with data as of November 12.
Elon Musk
Apart from Trump himself, Elon Musk may be one of the biggest winners of this election. But Musk did not bet on Trump from the beginning. As early as 2016, after Trump was first elected president, Musk participated in policy discussions as a member of the economic advisory team. Later, because Trump announced that the United States would withdraw from the (Paris Climate Agreement), Musk announced his withdrawal from the advisory team. Until 2022, before acquiring Twitter, Musk said, "I think it is important to have an inclusive and trustworthy digital public space." He added, "Otherwise, how can we help Trump be elected president in 2024?" Subsequently, Musk unblocked Trump's Twitter account as soon as he acquired Twitter.
As the 2024 election approaches, Musk has made a large donation to Trump's campaign through his political action committee (America PAC), announcing a donation of $75 million in July and another $47 million in October. According to people familiar with the matter, Musk's Super PAC spent about $200 million to help Trump's campaign. In addition, Musk has also appeared on the stage to promote Trump many times, which can be said to be ALL IN Trump.
Obviously, Musk also got the biggest return after Trump won the election. Judging from the wealth performance in the past week alone, Tesla's stock price has risen by 60% in the past month, and its market value has returned to 1.1 trillion US dollars. Musk's net worth also soared by 70 billion US dollars in a week to 335 billion US dollars, equivalent to about 2.3 trillion yuan. Of course, I believe this is not the final victory of Musk's bet on Trump. With the introduction of policies after Trump officially entered the White House, more returns are expected. However, from just one week, Musk's investment of 122 million US dollars has increased his net worth by 70 billion US dollars. The short-term return has also reached 573 times. From this perspective, Musk is worthy of being the "Lü Buwei" of the contemporary United States.
Larry Ellison
Larry Ellison is the co-founder and chairman of Oracle. Larry Ellison has always been one of the few tech leaders in Silicon Valley who openly supports Trump. As early as 2020, Ellison held a fundraising event for Trump. In this round of elections, Ellison donated $20 million to the Super Political Action Committee (PAC) in 2022 to support the Republican Party, accounting for 78% of the funds raised by the PAC at the time. Although Larry Ellison did not stand in front of the stage to support Trump like Musk, this behind-the-scenes ally-like relationship does not seem to have been forgotten by the market.
After Trump's victory, Larry Ellison's wealth surged by nearly $18 billion, and his net worth jumped to $204 billion, equivalent to about 1.4 trillion yuan.
Jeff Bezos
As the founder of Amazon and the owner of The Washington Post, Jeff Bezos' political stance has attracted much attention. During the 2016 and 2020 US presidential elections, The Washington Post publicly supported Democratic candidates and criticized Republican candidate Trump. However, on the eve of the 2024 presidential election, The Washington Post announced that it would no longer endorse any candidate. This move is considered to be a gesture of goodwill to Trump or to avoid confrontation after Trump's election.
Judging from the effect alone, after Trump's election, as technology stocks soared, Bezos' net worth also increased by US$11.5 billion to US$223.5 billion.
Brian Armstrong
Brian Armstrong, the CEO of Coinbase, did not publicly express his support for a specific candidate during the 2024 U.S. presidential election. Perhaps out of the interests of Coinbase, he once said that the U.S. government would be friendly to cryptocurrencies regardless of the election results. After the election, Brian Armstrong said that Trump's victory was a victory for the cryptocurrency election, emphasizing that political support for digital assets has increased.
Regardless of Brian Armstrong's real political stance, Coinbase has become one of the winners of this election. In the past month, Coinbase's stock price has risen by 83.8%, and Brian Armstrong's personal net worth has also increased by US$5.6 billion in a week to US$14 billion. In terms of growth, Brian Armstrong is undoubtedly one of the biggest winners among these super-rich people.
MicroStrategy
As one of the largest holders of Bitcoin, MicroStrategy has become one of the best performing U.S. stocks this year. Its price has risen by 573.4% this year. After Trump won the election, Bitcoin broke through $89,000, setting a new high. MicroStrategy's stock price also broke through $340, setting a new record high. In the past month, MicroStrategy's stock price has risen by about 59.9%.
On the evening of November 11, MicroStrategy announced that it purchased 27,200 bitcoins between October 31 and November 10, spending approximately $2.03 billion, with an average purchase price of approximately $74,463 per bitcoin. The funds for this purchase came from the company's ATM stock sales activities. Currently, MicroStrategy's total holdings have reached 279,420 bitcoins, with a total purchase cost of approximately $11.9 billion and an average purchase price of approximately $42,692 per bitcoin. Based on the estimated price of $89,000 for bitcoin, MicroStrategy's bitcoin holdings have a floating profit of approximately $12.9 billion.
French trader Théo
As the biggest winner on the US election prediction market Polymarket, people are talking about the story of French trader Théo. Through his exclusive neighborhood survey method and large bets, Théo earned more than $48.5 million in this election. Unlike other wealthy people whose wealth has increased, Théo's income is a real cash return. From this perspective, he may be the biggest winner. (Related reading: Mysterious whale on Polymarket won $50 million, how he correctly predicted the election results)
However, the winners on Polymarket are always in the minority. According to OKG Research, only three accounts have made more than $10 million in profit, and about 12% of accounts have achieved positive profits.
X Token Holders
X Empire is a click-and-click game with Musk as the theme. Since its creation in July 2024, the price curve of X Empire has been tepid and has been on a downward trend for a long time. However, with Trump's victory in the election, Musk, as the most direct beneficiary, has also become the object of pursuit in the crypto market. The price of X Empire rose by about 17 times from November 4 to November 10. Some traders also took advantage of the opportunity to complete their life counterattack. A trader named Bit Langlang allegedly completed a personal milestone of 10,000 times profit by trading X tokens.
$PNUT Holders
There are many US election-related tokens in the MEME track. However, judging from the results on the day of the election, both Trump and Harris tokens seem to have poor liquidity. This MEME coin, which is based on the squirrel internet celebrity persecuted by law enforcement agencies, was vigorously promoted by Musk during the election, triggering market pursuit. As the dust settled on the election, Pnut was also recognized by the market as a successful MEME experiment to attack the Democratic Party. On November 11, Binance announced that it would launch the $PNUT token. As soon as the news came out, the price of $PNUT rose by about 2 times again, and the market value reached 450 million US dollars.
Cardano
Cardano founder Charles Hoskinson has expressed his support for Trump's cryptocurrency policy on different occasions. This low-cost bet has undoubtedly brought huge returns to Cardano. During the TOKEN2049 conference in Singapore in September 2024, Hoskinson told CNBC in an interview: "From a cryptocurrency perspective, between Harris and Trump, Trump is undoubtedly the most popular candidate."
On November 10, Hoskinson once again expressed his willingness to work with the US government under Trump to help develop cryptocurrency legislation, with the goal of creating a clear regulatory framework for the cryptocurrency industry. Influenced by these news, the price of Cardano's governance token ADA rose sharply by 106% from November 5 to November 10, almost becoming the token with the largest increase among mainstream tokens. ADA's market value also once approached $30 billion, with a market value increase of $15 billion in a week.
Overall Crypto Market
Thanks to Trump's previous statements that he would launch favorable measures for the cryptocurrency market after taking office, the global crypto market has also benefited as a whole. From the perspective of market value, the market value of the overall crypto market has been rising steadily since the campaign entered the final stage. From 2.19 trillion on November 5 to a maximum of 3.1 trillion on November 12, setting a record high. From this perspective, the crypto market is the biggest winner after Trump's election. Of course, as of now, the overall crypto market seems to be continuing to be stimulated by the favorable election.
