New York, Thursday, November 07, 2024-The net worth of several high-profile billionaires surged after Donald Trump’s victory as president-elect, sparking investor optimism across major markets.
Tesla CEO Elon Musk saw his wealth skyrocket by nearly $21 billion, reaching $285.6 billion as Tesla stock surged by 15% on Wednesday.
The anticipated pro-crypto and corporate tax-cut stance under Trump’s leadership fueled optimism, especially among tech and cryptocurrency-focused moguls.
Other billionaires experienced similar gains, with Amazon’s Jeff Bezos adding $7 billion to reach $223.5 billion and Oracle’s Larry Ellison climbing $12 billion. Bitcoin soared to an all-time high of $76,000, reflecting investor confidence in Trump’s vision of making the U.S. the “crypto capital.” Meanwhile, Meta’s Mark Zuckerberg saw a slight dip, marking him as one of the few billionaires unaffected by the surge.
As Trump prepares to enter office, his promises to make the US a “crypto capital” and reduce corporate taxes have prompted confidence in both traditional and digital markets.
While tech leaders like Musk, Bezos, and Armstrong enjoy remarkable wealth increases, investors view Trump’s presidency as a catalyst for cryptocurrency growth.
Trump’s evolving stance on crypto marks a pivotal moment for the industry, fueling predictions of regulatory shifts aimed at bolstering the US as a global crypto hub.
