Elon Musk’s Net Worth Explodes After Trump Win – Bezos, Ellison, Buffett See Similar Boosts

The recent victory of Republican candidate and former president Donald Trump in the U.S. election has led to a substantial increase in the net worth of his major supporters, with Elon Musk at the forefront, gaining a remarkable $26.5 billion.

Musk, the world's richest person, has been one of Trump's biggest backers in this election, contributing approximately $119 billion to Trump's campaign and expressing steadfast support on his social media platform, X (formerly Twitter). Following the election results, Musk's net worth surged to $290 billion, as shares of his companies saw significant gains, according to the Bloomberg Billionaires Index.

Tesla's stock, for example, jumped 14.75% (or $37.09) to reach $288.53 per share on the Nasdaq. Over two days, the stock rose by 18.81%, climbing from $242.84 on November 4 to $288.53 on November 6.

Which Other Billionaires Benefited from Trump's Win?

Elon Musk wasn't alone in seeing his wealth increase after Trump's victory. Amazon founder Jeff Bezos, the world's second-richest person, experienced a $7.14 billion rise in net worth, bringing his total to $228 billion. Oracle co-founder and CTO Larry Ellison, now fourth on the billionaire list, gained $9.88 billion, reaching $193 billion. Investor and Berkshire Hathaway chairman Warren Buffett also saw his wealth grow by $7.58 billion, raising his net worth to $148 billion.

How Did the U.S. Stock Market Respond?

The U.S. stock market reacted positively to Trump's return to office as the 47th President. The S&P 500 climbed 2.53% to $5,929.04, the Dow Jones Industrial Average surged by 1,508.05 points (3.57%) to reach $43,729.93, the Nasdaq Composite increased by 2.95% to $18,983.46, and the Russell 2000 Index jumped 5.84%, reaching $2,392.92.