The recent election has done more than shake up political dynamics; it has sparked a stock market rally that led to staggering gains for some of the world's wealthiest individuals. As the dust settled on a historic election Wednesday, five billionaires saw dramatic increases in their net worth, gaining a collective $53 billion by the market's close. These high-profile investors—Elon Musk, Larry Ellison, Warren Buffett, Jeff Bezos, and Larry Page—benefited from a stock surge driven by optimism over a potentially more business-friendly era characterized by lower taxes and reduced regulations. Here’s a closer look at who gained the most and what’s behind this remarkable wealth surge.
5 billionaires who saw their wealth increase
1. Elon Musk: Leading the Pack with a $20.9 Billion Gain
Net Worth: $285.6 billion
Tesla CEO Elon Musk, already the world’s wealthiest individual, saw his fortune skyrocket on Wednesday, gaining $20.9 billion as Tesla’s stock surged nearly 15%. The jump followed election results that left investors hopeful for a closer relationship between Musk and former President Donald Trump. Musk’s stronghold on the electric vehicle market combined with potential policy changes, such as decreased regulatory measures and a more “hands-off” approach to industry, bolstered traders’ confidence in Tesla’s future.
As CFRA Research senior analyst Garrett Nelson noted, “TSLA and CEO Elon Musk are perhaps the biggest winners from the election result.” Despite challenges faced by other electric vehicle stocks, Musk’s standing in the industry and his influence have reinforced his position as the wealthiest person in the world.
Related: CEO Today Top 50 - Elon Musk
2. Larry Ellison: $11.7 Billion Added to Oracle’s Treasure Chest
Net Worth: $220.8 billion
Oracle founder Larry Ellison saw a remarkable $11.7 billion increase in his net worth, pushing his total wealth to $220.8 billion. Oracle’s shares rallied by 5.5%, riding the wave of a tech sector upswing. This boost places Ellison comfortably as the world’s third-richest person, capitalizing on investor confidence in the technology sector, which is expected to benefit from a pro-business regulatory environment under Trump.
With the possibility of a reduction in regulations and corporate tax cuts, Oracle, along with other tech giants, could continue to thrive in a less restrictive market.
3. Warren Buffett: “The Oracle of Omaha” Sees $7.6 Billion Wealth Gain
Net Worth: $147.4 billion
Warren Buffett, chairman and CEO of Berkshire Hathaway, saw a $7.6 billion increase in his wealth as his company’s stock rose by 5.4% on Wednesday. Known for his cautious, long-term approach to investing, Buffett’s fortune reached $147.4 billion following the election. The gains for Buffett highlight the market’s broad optimism, especially as Berkshire Hathaway’s diversified holdings position it to benefit from a pro-business environment.
Berkshire Hathaway’s upward movement underscores Buffett’s strategic investment approach, which focuses on enduring companies poised for growth. This approach clearly paid off in light of Wednesday’s market rally.
4. Jeff Bezos: $7 Billion Boost for Amazon’s Powerhouse
Net Worth: $223.5 billion
Amazon founder Jeff Bezos added $7 billion to his fortune on Wednesday, increasing his net worth to $223.5 billion and maintaining his rank as the second wealthiest person globally, right behind Musk. Amazon’s stock reached an all-time high, closing up 3.8% at $207 per share, as investor confidence soared following the election.
With Amazon’s consistent growth and retail dominance, the company’s future could see fewer regulatory hurdles. This likely boost from decreased regulation appeals to investors, as it suggests the potential for continued profit growth across Amazon’s vast e-commerce empire.
Related: Jeff Bezos Contributes $60 Million to Restore U.S. Wildlife Lands
5. Larry Page: Alphabet’s Gains Drive Page’s Wealth Up by $5.3 Billion
Net Worth: $146.4 billion
Larry Page, co-founder of Alphabet, gained $5.3 billion as Alphabet’s stock surged toward record highs. Even though Page stepped down as CEO in 2019, he remains a controlling shareholder in Alphabet, which saw its stock rise by 4% on Wednesday. With Alphabet’s strong footing in AI technology, investors are optimistic that Trump’s promises of a “hands-off” approach to AI will allow companies like Alphabet to innovate without regulatory constraints.
Alphabet’s focus on artificial intelligence and data analytics positions it as a key player in the tech industry, especially as regulatory policies under Trump could favor high-tech companies and foster even greater advancements.
What’s Driving This Billionaire Boom? Investor Confidence and Market Optimism
The surge in wealth for Musk, Ellison, Buffett, Bezos, and Page is largely fueled by investors’ optimistic outlook on a business environment potentially shaped by less government intervention and more favorable tax conditions. With Trump’s electoral win, many expect policies that could prioritize corporate growth over regulatory constraints, favoring big players in industries like technology, retail, and finance.
For these billionaires, the day’s gains underscore the symbiotic relationship between the stock market and high-net-worth individuals, whose wealth can soar as the market rises. As investors look ahead, this uptick reflects the anticipation of an economic climate that could be advantageous for corporations and wealthy shareholders alike.
The Billionaire Takeaway: The Market Moves and So Does Their Wealth
As the stock market rallied in response to the election results, these five billionaires saw their fortunes grow significantly, further solidifying their positions among the world’s wealthiest. With market optimism high, particularly around the tech and retail sectors, this surge reflects broader economic forces at play as investors prepare for what they hope will be a pro-business era. Whether this momentum will continue or level out remains to be seen, but for now, these billionaires have seized the moment, adding billions to their fortunes in a single day.
