Share surge increases Elon Musk’s fortune by $26bn in a day as Jeff Bezos, Sergey Brin and Bill Gates also benefit

The wealth of the 10 richest people in the world – a list dominated by US tech billionaires – increased by a record amount after Donald Trump’s victory in the presidential election, according to a widely cited index.

The Bloomberg Billionaires Index estimated that the world’s 10 wealthiest people gained nearly $64bn (about £49.5bn) on Wednesday, the largest daily increase since the index began in 2012.

Elon Musk, the world’s richest person, registered the largest increase with a $26.5bn addition to his fortune, which now stands at $290bn. The prominent backer of Trump’s campaign, benefited from a surge in the share price of Tesla, the electric carmaker where he is chief executive and in which he owns a 13% stake.

The gains came as tech business leaders, including Amazon’s Jeff Bezos, Mark Zuckerberg, chief executive of Facebook parent Meta, and Apple’s Tim Cook publicly congratulated Trump on his election win…

  • WatDabney@fedia.io
    30·
    4 hours ago

    And that’s the entire point really.

    Behind all of the sturm und drang and all of the Christian nationalist noise and all of the hate and all of the furor is, and has been from the start, a handful of fabulously wealthy psychopathic fuckwads who recignized in Trump an opportunity to protect and even expand their entirely undeserved and grotesquely destructive privilege.

    • elgordino@fedia.io
      18·
      3 hours ago

      Yeah this was an election of billionaires vs everyone else. Unfortunately the billionaires won by making their voters think they were playing a different game.

      • iAvicenna@lemmy.world
        5·
        2 hours ago

        Any election in the USA is an election of billionaires, thanks to the system. It was just more grotesquely obvious this time because Elon is like a spoiled ten year old with no limits.