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On Thursday, the net worths of many of the world’s richest people, especially those with strong ties to cryptocurrencies, soared as the next president is expected to embrace cryptocurrencies and corporate tax cuts following Donald Trump’s election victory. As a result, stock prices soared.
Mr. Musk is one of Mr. Trump’s wealthiest supporters. (Photo by ANGELA WEISS/AFP via Getty Images)
AFP (via Getty Images)
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Elon Musk: The Tesla boss, who was one of President Trump’s biggest financial backers in the run-up to the election, experienced a nearly $21 billion shock to his net worth on Wednesday as Tesla shares rose nearly 15%. At the close, his net worth was $285.6 billion. The stock hit its highest price this year at $288.53 on Wednesday.
Jeff Bezos: Bezos’ net worth increases by $7 billion to $223.5 billion after strong trading in Amazon stock (up 3.8%), maintaining his position as the world’s second-richest person after Musk I am doing it.
Warren Buffett: The world-famous investor’s net worth soared by $7.6 billion on Wednesday, with Berkshire Hathaway up more than 5% to $147.4 billion.
Brian Armstrong: Armstrong, CEO of cryptocurrency platform Coinbase, has an estimated net worth of $11 billion, the result of a staggering 31% jump in Coinbase, which rose $2.6 billion on Wednesday to close at $254.31. (platform co-founder Fred Ertham, who is $600 million richer after the market closed).
Vlad Tenev and Baiju Bhatt: The Robinhood co-founders’ net worths have both increased, with Butt increasing by $307 million to $1.9 billion, and Tenev increasing by nearly $300 million to $1.9 billion. (Robinhood stock rose nearly 20% Wednesday).
Michael Saylor: Founder of Bitcoin strategy firm MicroStrategy, Saylor’s estimated net worth rose to $6.6 billion and his company’s stock rose 13% to $257.81, one of its highest prices this year. He became nearly a billion dollars richer.
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Meta co-founder Mark Zuckerberg didn’t join in the rush, as his net worth fell slightly to $197.9 billion, but he maintained his position as the world’s fourth-richest person after Ellison. . Meta stock closed at $572.05, down $0.38.
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Bitcoin soared above $76,000 on Wednesday, hitting an all-time high following President Trump’s election victory.
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Companies and crypto-related stocks will be affected by the election results as President Trump has positioned himself as the “crypto president” and promised tax cuts to prominent CEOs such as Apple’s Tim Cook and JP Morgan’s Jamie Dimon. are likely to respond positively to Cryptocurrency investors believe that President Trump’s presidency will be favorable for crypto regulation, as he said this year that he aims to make the United States the “crypto capital of the planet.” This is a complete reversal from the skepticism and criticism he had toward cryptocurrencies a few years ago.
Read more
From Goldman to Nvidia: All stock market records set on Wednesday (Forbes)
What Elon Musk will do in the Trump administration (Forbes)
