Donald Trump's election victory is already helping the world's richest become even richer

Donald Trump’s election victory caused the stock market to skyrocket major indexes rose on Wednesday. As a result, some of the richest people on earth became billions of dollars richer.

Elon Musk was, as usual, the leader in this.

The richest person in the world saw his fortune gain $26.5 billion at the closing price on Wednesday Tesla shares rose almost 15%. Musk controls almost 13% of Teslas (TSLA) outstanding shares, although he may be able to buy more shares – at a serious discount – if his is compensation plan has been approved by the courts. So far this year, Musk has added $61.3 billion to his fortune, for a total of $290 billion. Bloomberg’s Billionaires Index.

Are close relationship with the newly elected president will help fuel profits, and Musk plans to do just that in favor for a national approach to regulating self-driving vehicles. He has some government role in his sights, although it is unclear whether he will take an official position.

Amazon (AMZN) and Blue Origin founder Jeff Bezos and Oracle’s (ORCL) Larry Ellison, the second and fourth richest people respectively, also posted gains on Wednesday. Bezos, who still owns 9% of Amazon shares, added $7.14 billion to his fortune, while Ellison – a Trump and Musk ally – added almost $10 billion to his net worth.

Other major beneficiaries in the top 10 richest people in the world include Microsoft (MSFT) founder Bill Gates, former Google (GOOGL) CEO Larry Page, Berkshire Hathaway’s (BRK.A) Warren Buffett and former Microsoft CEO Steve Ballmer. Meta (METACEO Mark Zuckerberg and LVMH CEO Bernard Arnault were the only losers after Wednesday, with Zuckerberg’s net worth falling by $81 million and Anault’s by $2.85 billion.

Nvidia’s (NVDA) Jensen Huang’s net worth gained $4.86 billion, contributing to his massive wealth increase this year. In total, his net worth increased by $83 billion by 2024, making him the eleventh richest person in the world.

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