PANews reported on November 7 that according to Bloomberg, as Trump won re-election, the wealth of the US and global rich surged, and the net assets of the world's top ten richest people increased by a record $63.5 billion in a single day. Tesla CEO Elon Musk's net worth increased by $26.5 billion, and Amazon founder Bezos and Oracle Chairman Larry Ellison were also major beneficiaries. This is the largest single-day increase in the Bloomberg Billionaires Index since its establishment in 2012.
Trump's victory has boosted U.S. stocks, with the S&P 500 index up 2.5%, its best performance since the election. The market is betting that Trump will implement low taxes and loose regulatory policies, driving up U.S. financial assets, especially stocks and the dollar. In addition, the net assets of crypto tycoons such as Coinbase CEO Brian Armstrong and Binance founder Zhao Changpeng have also risen sharply, with Zhao Changpeng's wealth increasing to $52.7 billion.
