World's Richest Gain After Trump's Election Win
World's Richest Gain After Trump's Election Win

World's Richest Gain After Trump's Election Win

News summary

Following Donald Trump's presidential election victory, the world's ten richest people experienced a record surge in their wealth, gaining a combined $64 billion, according to Bloomberg's Billionaires Index. The largest increase was seen by Elon Musk, whose fortune rose by $26.5 billion to $290 billion, benefitting from a rise in Tesla’s share price. Jeff Bezos and Larry Ellison also gained significantly, with their net worths increasing by $7.1 billion and $5.5 billion, respectively. While most of these billionaires are based in the US, French businessman Bernard Arnault saw a decline in his wealth by nearly $3 billion. The rally in US stocks, attributed to expectations of a pro-business administration under Trump, primarily drove these wealth gains.

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