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    • Here are the fortunes of the billionaires who will benefit most from Trump's election victory
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    Here are the fortunes of the billionaires who will benefit most from Trump's election victory

    Kathleen William Posted on

    Topline

    The net worth of many of the world's richest people skyrocketed on Thursday, particularly those closely tied to cryptocurrencies. Stocks rose following Donald Trump's election victory as the president-elect is expected to introduce cryptocurrencies and corporate tax cuts in his upcoming term.

    Important facts

    Elon Musk: The Tesla boss, who was one of Trump's biggest donors in the run-up to the election, saw his net worth jump by nearly $21 billion to $285.6 billion on Wednesday as Tesla shares rose nearly 15% closed Wednesday at $288.53 – its highest share price this year.

    Jeff Bezos: Bezos' net worth rose $7 billion to $223.5 billion (up 3.8%) after a strong trading day for Amazon shares, maintaining his position as the world's second-richest person behind Musk .

    Warren Buffett: The world-renowned investor's net worth rose $7.6 billion to $147.4 billion on Wednesday, with Berkshire Hathaway gaining more than 5%.

    Brian Armstrong: Armstrong, the CEO of crypto platform Coinbase, has an estimated net worth of $11 billion after a $2.6 billion increase on Wednesday, the result of a whopping 31% increase for Coinbase, the closed at $254.31 (platform co-founder Fred Ehrsam). , became $600 million richer when markets closed).

    Vlad Tenev and Baiju Bhatt: The Robinhood co-founders' net worths rose together, with Bhatt increasing by $307 million to $1.9 billion and Tenev increasing by nearly $300 million to $1.9 billion ( Robinhood shares rose nearly 20% on Wednesday.

    Michael Saylor: 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 rose 13% to $257.81 -Dollar rose – one of the highest values ​​of the year.

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    Cons

    Meta co-founder Mark Zuckerberg did not join the rush as his net worth fell slightly to $197.9 billion and he retained his place as the fourth richest person in the world behind Ellison. Meta shares ended the trading day at $572.05, down $0.38.

    tangent

    Bitcoin hit an all-time high on Wednesday, shooting above $76,000 in response to Trump's election victory.

    Important background

    Companies and crypto-related stocks are likely to react positively to the election results, as Trump has positioned himself as a “crypto president” and has promised tax cuts to prominent CEOs such as Apple’s Tim Cook and JPMorgan’s Jamie Dimon. Cryptocurrency investors also believe his presidency will favor crypto regulations, as Trump said he wants to make the US the “crypto capital of the planet” this year – a complete about-face from the doubts and criticism he expressed about cryptocurrencies years ago.

    Further reading

    From Goldman to Nvidia: All stock market records set on Wednesday (Forbes)

    Here's what Elon Musk could do in a Trump administration (Forbes)

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    Kathleen William
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