The increase came from a big day on the stock market, which rallied in the hopes that Trump will decrease regulations and lower taxes. The S&P 500 had a 2.5 percent increase, the best-ever performance following an election, and the U.S. dollar also went up. The world’s richest man, Trump supporter Elon Musk, saw his net worth go up by a whopping $26.5 billion, helped by a big jump in Tesla’s stock price.
Behind Musk, Jeff Bezos’s net worth went up by $7.14 billion. Bezos infamously decided that his newspaper, The Washington Post, should refrain from making a presidential endorsement this election, and he congratulated Trump on his “extraordinary political comeback and decisive victory” in an X post soon after the news of Trump’s win broke.
The Republican Party has always counted business leaders and executives among its main backers, and that hasn’t changed with the rise of Trump. Trump, as a business executive himself, shares their aims of fewer taxes and regulations. Naturally, this means that these executives and their companies see a chance for more profits with a new Trump administration.
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Publish date : 2024-11-07 11:06:00
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