Yesterday’s stock market rebound after the election of President Donald Trump added billions of dollars to the pockets of the tech elite, but apparently Mark Zuckerberg failed to cash in.
The combined net worths of the 10 richest people on earth rose by nearly $64 billion yesterday, according to the Bloomberg Billionaires Index, with the biggest winner being Elon Musk, who added $26.5 billion to his $290 billion personal fortune. I joined.
Larry Ellison made nearly $10 billion in profits on this day, and Oracle itself is likely to benefit from the new administration on the contract front.
Only two of the top 10 billionaires lost money during the boom. Bernard Arnault, chairman and CEO of luxury goods empire LVMH, sees his net worth fall by $2.85 billion after already falling by $34.3 billion in the past year. did. The only non-tech company on the top 10 list, he only has a net worth of $173 billion to fall back on.
But another surprising loser is the third richest man on the top 10 list (and they’re all men; Alice Walton is currently the highest-ranking woman on the list, at number 16), Metaverse enthusiast Mark Zuckerberg. is.
Zacks lost $80.9 million on the day, but that’s a small hit to his $202 billion fortune. Mehta’s stock has risen, but he has other investments, and the president-elect is no fan of the Facebook founder and has threatened to jail “Zuckerbucks” on election fraud charges.
Here is the complete top 10:
1. Elon Musk $290 billion, an increase of $26.5 billion. 2. Jeff Bezos $228 billion, an increase of $7.14 billion. 3. Mark Zuckerberg – $202 billion, down $80.9 million. 4. Larry Ellison $193 billion, an increase of $9.88 billion. 5. Bernard Arnault $173 billion, down $2.85 billion. 6. Bill Gates $159 billion, an increase of $1.82 billion. 7. Larry Page: $158 billion, up $5.53 billion. 8. Sergey Brin $149 billion, an increase of $5.17 billion. 9. Warren Buffett $148 billion, an increase of $7.58 billion. 10. Steve Ballmer, $146 billion, an increase of $2.81 billion.
Amazon founder Jeff Bezos (second on the list with $228 billion) immediately praised Trump after his election victory was announced. Apple’s Tim Cook also gave encouragement, and Microsoft’s Satya Nadella and Google’s Sundar Pichai also joined the Trump praise party.
By the way, those last three are not even among the top 500 richest people on the planet. This shows the difference between being a founder and being an employee.
Overall, the top 10 companies’ total net assets increased by $346.3 billion year-over-year, which also takes into account Arnault’s $34.3 billion loss over the past 12 months. ®
