The fortunes of the world’s 10 richest people saw a record daily increase of $63.5 billion after Donald Trump secured a second term as U.S. president. Led by Tesla’s Elon Musk, who gained $26.5 billion, the surge was largely driven by rising U.S. stock markets. Investors are betting that Trump’s policies will continue to favor lower taxes and lighter regulation, boosting assets. The S&P 500 index jumped by 2.5% following the election, marking the strongest post-election performance in history.

In addition to Musk, other top gainers included Amazon’s Jeff Bezos, Oracle’s Larry Ellison, and crypto billionaires like Coinbase CEO Brian Armstrong and Binance founder Changpeng Zhao. The crypto sector benefited as well, with Armstrong’s net worth increasing by 30% to $11 billion, and Zhao’s wealth growing by $12.1 billion. Only one of the world’s top 10 richest, LVMH’s Bernard Arnault, is based outside the U.S., emphasizing the global impact of Trump’s victory on wealth accumulation.

Source: Bloomberg