Wealth of the World's Richest Surges Following Trump's Reelection Victory
November 7, 2024, 4:01 pm

Wealth of the World's Richest Surges Following Trump's Reelection Victory

تويتر وماسك \ تعبيرية \ متداول

The fortunes of the world's top 10 wealthiest individuals rose to a record daily high with Donald Trump's victory for another term as President of the United States against his Democratic rival, Kamala Harris.

The net worth of billionaires, led by Elon Musk of Tesla, the richest person in the world, increased by $63.5 billion on Wednesday, according to the Bloomberg Billionaires Index. Musk alone added $26.5 billion to his financial portfolio. Jeff Bezos of Amazon and Larry Ellison of Oracle were also among the biggest winners. This marks the largest daily increase since the Bloomberg wealth index began in 2012.

Much of the wealth accumulated by the ultra-rich is attributed to rising U.S. stock prices, reinforcing bets that Trump, upon returning to the White House, will implement a tax-cutting agenda.

The S&P 500 index surged by 2.5%, marking the best post-election performance in history, while the U.S. dollar also rose.

In addition to Musk, other significant winners included billionaires in the cryptocurrency sector.

The net worth of Brian Armstrong, co-founder and CEO of Coinbase Global Inc., increased by 30% to $11 billion. Additionally, Changpeng Zhao, founder of Binance, the world's largest cryptocurrency exchange, added $12.1 billion post-election, boosting his net worth to $52.7 billion.

Donald Trump was elected President of the United States, surpassing the threshold of 270 electoral votes against Kamala Harris. The Republican candidate won in more than half of the fifty U.S. states, including Georgia, Pennsylvania, Michigan, and Wisconsin, which had voted for Democrats in the previous election.

NATO Secretary-General Expresses Desire to Collaborate with Trump Amidst European Concerns Wealth of the World's Richest Surges Following Trump's Reelection Victory

Upon arriving to participate in the summit of the European Political Community, which includes around forty heads of state in Budapest, he said, "I look forward to sitting with the elected U.S. president and seeing how we will collectively ensure we meet challenges, including the threats from Russia and North Korea." He also noted that the strengthening of ties between Russia and North Korea poses a threat to the United States as well, according to reports from Agence France-Presse.

Before Trump's victory, Rutte expressed confidence that a united Washington would remain part of the defensive alliance, even if Trump became the 47th president of the United States. In an interview with German public broadcaster ZDF last Monday night, he stated that both Republicans and Democrats understand that NATO serves not only the security of Europe but also that of America. He added that both candidates are aware that the security of the United States is closely tied to NATO.

On Wednesday, NATO congratulated Trump on his victory but did not address the Ukrainian issue.

It is noteworthy that the relationship between the elected U.S. president and the defense alliance was not the best during his first term in the White House. Trump criticized NATO member states multiple times and even hinted at withdrawing from the alliance unless they increased their financial contributions.

Additionally, the issue of the Russian-Ukrainian war is one of the matters that complicate relations between the two sides, especially since Trump has repeatedly stated that he can end this ongoing conflict, which began in 2022, quickly. He implied that he had a peace plan between Kyiv and Moscow, while his vice president, JD Vance, revealed aspects of that plan, which stipulated Ukraine's commitment not to join NATO, thereby sending reassuring signals to the Russians.

Furthermore, many NATO member states in Europe fear that Trump might halt military aid to Ukraine after he previously criticized the U.S. for pouring funds into supporting Ukrainian President Volodymyr Zelensky.