The wealth of the richest tech tycoons increased by a record $63.5 billion after Trump's victory
After Donald Trump's victory in the 60th US presidential election, the wealth of the ten richest people in the world, led by American businessman Elon Musk, increased by more than $63.5 billion in just one day. This figure marks a record for daily wealth growth.
According to the Bloomberg Billionaires Index, Elon Musk's wealth increased by $26.5 billion in one day. Jeff Bezos, the founder of the world’s largest e-commerce platform Amazon, and Larry Ellison, the co-founder of software maker Oracle Corporation, also became significantly wealthier.
The increase in wealth of the world's richest people is explained by the rise in the share price of American companies. It is expected that with Trump's return to the White House, taxes will be reduced and tax regulation will be relaxed.
The wealth of billionaires connected to the cryptocurrency market has significantly increased. For example, Brian Armstrong, co-founder and CEO of the cryptocurrency exchange Coinbase Global Inc., became 30% richer (his net worth grew to $11 billion). The net worth of Binance cryptocurrency exchange founder Changpeng Zhao increased by $12.1 billion after the US presidential election, reaching $52.7 billion.
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