Elon Musk’s Billion-Dollar Profit Following Support for Trump
The wealth of the world’s 10 richest individuals, mostly U.S. tech billionaires, has increased unprecedentedly after Donald Trump’s victory in the presidential election.
Bloomberg reported that the world’s 10 richest individuals gained nearly $64 billion, approximately £495 billion, on Wednesday, November 6, marking the largest daily increase since 2012.
Elon Musk, the world’s richest person, recorded the highest increase with a $265 billion rise, bringing his wealth to $290 billion. As a prominent supporter of Trump’s campaign, he gained most of this increase from the rise in Tesla’s stock price, the electric car company he leads and of which he owns 13% shares.
These increases occurred as tech business leaders, including Amazon’s Jeff Bezos, Facebook’s parent company Meta CEO Mark Zuckerberg, and Apple’s Tim Cook, publicly congratulated Trump on his election victory.