Enormous wealth growth for the ten richest people in the world

(Patria) - The wealth of the ten richest people in the world has grown by a record amount following Donald Trump's victory in the US presidential elections.

The list of the 10 richest people in the world is dominated by American tech billionaires, reports Index.hr.

Bloomberg's Billionaires Index estimates that the 10 richest people in the world earned nearly $64 billion on Wednesday, the largest daily increase since the index was introduced in 2012.

Elon Musk, the richest person in the world, recorded the biggest increase. He added $26.5 billion to his wealth, which now stands at $290 billion.

A prominent supporter of Trump's campaign benefited from the surge in the stock price of Tesla, the electric car manufacturer where he is CEO and owns 13% of its shares.

This increase in wealth for the richest is a result of rising stock prices on US stock exchanges as investors expect Trump to cut taxes and remove regulations, writes The Guardian.

Jeff Bezos, founder of Amazon and the second richest person in the world, added seven billion dollars to his wealth of almost 230 billion.

Larry Ellison, chairman of the software company Oracle and a traditional Republican supporter, increased his wealth by nine billion dollars and is now worth 193 billion.

Other members of the top 10 richest list whose wealth increased include Microsoft co-founder Bill Gates, former Microsoft CEO Steve Ballmer, and Google co-founders Larry Page and Sergey Brin.

Interestingly, Trump expressed frustration with Google during the campaign. In September, he threatened to order the Justice Department to file criminal charges against the company if he did not win the election.

He claimed that Google displayed negative articles about him, but not about his opponent Kamala Harris – a claim that Google denied.

The only member of the billionaire elite who lost money on Wednesday was French tycoon Bernard Arnault, whose wealth decreased by almost three billion dollars.

Zuckerberg's wealth did not increase. The entrepreneur incurred Trump's wrath, and the president-elect threatened him with a life sentence in August for alleged collusion against him in the 2020 election.

Neil Wilson, chief analyst at Finalto, said that US stocks rose thanks to a "pure MAGA trade," referring to Trump's slogan "Make America Great Again" and investors buying stocks based on a clear Trump victory.

"It was due to likely lower taxes, deregulation across a wide range of sectors such as banking, energy, and technology, plus a big, reflexive rally on the back of the fact that the election outcome was clean and undisputed.

The result of a red wave was what any American capitalist would want and was not in any way uncertain in the election," Wilson stated.