PANews reported on November 7, according to Bloomberg, that as Trump won re-election, the wealth of American and global billionaires surged, 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's wealth increased by $26.5 billion, while Amazon founder Jeff Bezos and Oracle chairman Larry Ellison were also major beneficiaries. This is the largest single-day increase since the Bloomberg Billionaires Index was established in 2012.
Trump's victory has driven a surge in U.S. stocks, with the S&P 500 index rising by 2.5%, marking its best performance since the election. The market is betting that Trump will implement low taxes and relaxed regulatory policies, boosting U.S. financial assets, particularly stocks and the dollar. Additionally, the net worth of crypto billionaires such as Coinbase CEO Brian Armstrong and Binance founder Zhao Changpeng has also significantly increased, with Zhao's wealth rising to $52.7 billion.
