Elon Musk & Jeff Bezos See Massive Income Surge Following Trump’s Win… Record-Breaking Earnings
Donald Trump’s election win is already having significant ripple effects on the world’s wealthiest individuals, with Elon Musk and Jeff Bezos seeing major boosts to their fortunes.
According to the Bloomberg Billionaires Index, both Musk, CEO of Tesla, and Bezos, founder of Amazon, have experienced impressive gains in their net worth. Musk saw his fortune rise by $26.5 billion, bringing his total to $290 billion, while Bezos added $7.1 billion, pushing his wealth to $228 billion. They aren’t the only billionaires benefiting from the market’s reaction to Trump’s victory.
Larry Ellison, Oracle’s Chief Technology Officer, saw a $9.9 billion jump in his net worth, reaching a reported $193 billion. Meanwhile, Warren Buffett, CEO of Berkshire Hathaway, experienced a $7.6 billion increase, bringing his wealth to $148 billion. It seems many of these business magnates are feeling pleased with their financial outcomes after supporting the right candidate in the election.
Musk, a vocal supporter of Trump, even spoke at a rally for the President-Elect at Madison Square Garden in October, and spent over $100 million on Trump’s campaign. At the rally, he called for a $2 trillion reduction in the federal budget, accusing the current administration of misusing taxpayer money.
While Bezos never publicly endorsed Trump’s re-election bid, he did block The Washington Post, which he owns, from supporting Vice President Kamala Harris. Bezos defended the decision, arguing that a presidential endorsement would “create a perception of bias.”
Buffett, who remained neutral throughout the election, did not endorse any candidate, while Ellison did publicly support Trump.
On Wednesday, Bezos congratulated Trump on his victory, calling it an “extraordinary political comeback.”
It’s shaping up to be a very good week for billionaires – though, with their wealth, it often feels that way.