With $20 billion, Elon Musk leads the growth in wealth, accompanied by the fortunes of Bezos and Buffett, among others. The great exception.
The president-elect is expected to embrace cryptocurrencies and corporate tax cuts during his next term.
The main winners
Elon Musk: The Tesla CEO was one of Trump’s biggest financial backers in the run-up to the election. On Wednesday, he saw his net worth jump by nearly $21 billion, taking it to $285.6 billion , as Tesla shares closed up nearly 15% at $288.53, their highest price this year.
Jeff Bezos: Net worth rose $7 billion to $ 223.5 billion after a strong day in trading for Amazon shares (up 3.8%), keeping him as the second-richest person in the world, behind Musk.
Larry Ellison : The Oracle co-founder is nearly $12 billion richer as his net worth jumped to $ 220.8 billion and narrowed the gap between him and Bezos, who are vying for second place on Forbes ‘ billionaires list .
Warren Buffett: The world-renowned investor’s net worth rose $7.6 billion on Wednesday to $147.4 billion , with Berkshire Hathaway up more than 5%.
Brian Armstrong : The CEO of cryptocurrency platform Coinbase has an estimated net worth of $11 billion after a $2.6 billion surge on Wednesday, the result of a spectacular 31% jump for Coinbase to close at $254.31.
The platform’s co-founder, Fred Ehrsam , also became $600 million richer at the close of markets.
Vlad Tenev and Baiju Bhatt : The Robinhood co-founders’ net worths rose together. Bhatt’s $307 million to $1.9 billion and Tenev’s nearly $300 million to $ 1.9 billion . Robinhood stock also rose nearly 20% on Wednesday.
Michael Saylor: The founder of Bitcoin strategy firm MicroStrategy became nearly $600 million richer as his estimated net worth rose to $6.6 billion , while the company’s shares climbed 13% to $257.81, one of their highest points of the year.
Against the flow
Meta co-founder Mark Zuckerberg was not part of the gains. Instead, he saw his net worth drop slightly to $197.9 billion , though he maintained his position as the world’s fourth-richest person behind Ellison. Meta shares ended the trading day at $572.05, down $0.38.
The reaction of the crypto sector
Bitcoin hit an all-time high on Wednesday, soaring past the $76,000 mark in reaction to Trump’s election victory.
Cryptocurrency-related companies and stocks are likely reacting positively to the election results because Trump has positioned himself as a “crypto president” and promised tax cuts to prominent CEOs such as Apple’s Tim Cook and JPMorgan’s Jamie Dimon .
Cryptocurrency investors also believe his presidency will be pro-regulation, as Trump said this year that he aims to make the United States «the cryptocurrency capital of the world,» a complete reversal from the doubts and criticisms he leveled at the asset years ago.
