When President-elect Donald Trump won re-election to the presidency on Nov. 5, stock markets immediately began to soar. As most of the world’s richest people own stocks and/or run businesses that trade on the stock exchange, many of them saw their wealth skyrocket, as well — even those who may have endorsed candidates other than Trump.
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Many of the billionaires who saw their wealth jump are titans in the tech industry, which could see decreased regulation under a second Trump presidential term, Barron’s reported. But as the overall market screamed higher after the election, the gains were not restricted simply to that one industry.
Here’s a look at six people who have already gotten much richer thanks to Trump’s win, further evidencing the axiom that “the rich get richer.”
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Jeff Bezos is the well-known billionaire founder of Amazon, which now seemingly sells everything to everyone. In part due to the company’s stock surge after Trump’s re-election, Bezos added an estimated $7.14 billion to his wealth.
Bezos stands to gain even more due to the reliance of his space exploration company, Blue Origin, on government contracts from the U.S. Department of Defense and NASA. Although Bezos did not endorse Trump, he did publicly congratulate the President-elect on his election night victory, calling it “an extraordinary political comeback” in a post on X.
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Elon Musk has gained perhaps the most of all thanks to Donald Trump’s re-election. Not only has Musk gained monetarily, but Trump has appointed him the head of the newly christened “Department of Government Efficiency,” or DOGE.
Seeing as Musk’s companies have several current government investigations and lawsuits against them — some or all of which may go away with Musk part of the government — his good times may keep on rolling.
Estimates show that Musk’s net worth jumped by more than $26 billion on the day after the election alone. As of Nov. 20, Tesla’s stock had gained roughly 40% since the election, propelling Musk’s net worth upwards by at least $80 billion.
Larry Ellison is the co-founder of information technology company Oracle, and he, too, enjoyed a big bump to his net worth thanks to Trump’s re-election, with CNN estimating an increase of $9.88 billion in the day after the election alone.
