The victory of Republican candidate and former president Donald Trump within the US elections this time led to the web price of his largest backer surging by $26.5 billion.
Tesla CEO and X proprietor Elon Musk.(Reuters)
Elon Musk, the world’s richest particular person, has additionally been one in every of Trump’s largest supporters for this election, having donated round $119 billion to his marketing campaign and endlessly supporting him on his social media platform X (Previously Twitter).
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The tip outcome? His web price grew by $26.5 billion to succeed in $290 billion, in accordance with the Bloomberg Billionaires Index, after shares of his firms rallied put up the election outcomes.
Tesla shares as an illustration, rose by 14.75% or by $37.09 to succeed in $288.53 a share on the Nasdaq. The inventory rose 18.81% over the earlier two days from its shut of $242.84 on November 4 to $288.53 on November 6.
Who have been the opposite billionaires whose web price rose after the elections?
It was not simply Musk who gained from Trump’s victory. Amazon founder Jeff Bezos, the second richest particular person on the earth, noticed his web price rise by $7.14 billion to succeed in $228 billion.
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Equally, co-founder and CTO of Oracle Larry Ellison, the fourth richest particular person on the earth noticed his web price rise by $9.88 billion to $193 billion and investor and chairman of Berkshire Hathaway Warren Buffett, the ninth richest, gained $7.58 billion, along with his web price changing into $148 billion.
How did the US inventory market carry out after the elections?
The US inventory market on the whole rose sharply after Trump grew to become the forty seventh President of the USA.
The S&P 500 rose 2.53% to succeed in $5,929.04, the Dow Jones Industrial Common rose by 1,508.05 factors or 3.57% to succeed in $43,729.93, the Nasdaq Composite was up 2.95% to succeed in $18,983.46, and the Russell 2000 Index surged 5.84% to succeed in $2,392.92.
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