• 3 weeks ago
The net worths of many of the world’s wealthiest people skyrocketed Thursday, particularly those with strong ties to cryptocurrency, with stocks soaring following Donald Trump’s election win as the president-elect is expected to embrace cryptocurrency and corporate tax cuts during his upcoming term.

Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2024/11/06/elon-musks-20-billion-net-worth-jump-leads-billionaire-surge-after-trumps-win-fortunes-of-bezos-buffett-and-more-swell/

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Transcript
00:00The net worths of many of the world's wealthiest people skyrocketed Thursday, particularly
00:05those with strong ties to cryptocurrency, with stocks soaring following Donald Trump's
00:09election win, as the president-elect is expected to embrace cryptocurrency and corporate tax
00:14cuts during his upcoming term.
00:17Elon Musk, the Tesla chief who was one of Trump's biggest financial backers in the
00:21lead-up to the election, experienced a nearly $21 billion jolt to his net worth Wednesday,
00:27bringing it to $285.6 billion as Tesla's stock closed up nearly 15 percent on Wednesday
00:34at $288.53.
00:37Jeff Bezos' net worth is up $7 billion to $223.5 billion after a strong day of trading
00:44for Amazon shares, up 3.8 percent, maintaining his position as the world's second wealthiest
00:50person behind Musk.
00:52Larry Ellison, the Oracle co-founder, is nearly $12 billion richer, as his net worth jumped
00:57to $220.8 billion and lessened up the gap between him and Bezos, for number two on
01:04Forbes' billionaire list.
01:06Warren Buffett, the world-renowned investor, saw his net worth spike $7.6 billion Wednesday,
01:12bringing it to $147.4 billion, with Berkshire Hathaway rising more than 5 percent.
01:19Brian Armstrong, the CEO of crypto-platform Coinbase, has an estimated $11 billion net
01:24worth after a $2.6 billion increase Wednesday, the result of a whopping 31 percent surge
01:30for Coinbase.
01:32The net worths of Robinhood co-founders Vlad Tenev and Baiju Bhat climbed together, with
01:37Bhat's up $307 million to $1.9 billion and Tenev's up nearly $300 million to $1.9 billion.
01:45Robinhood shares surged almost 20 percent on Wednesday.
01:49Michael Saylor, the founder of Bitcoin strategy firm MicroStrategy, became nearly $600 million
01:54richer as his estimated net worth climbed to $6.6 billion, while the company's stocks
01:59swelled 13 percent, one of its highest points of the year.
02:04Businesses and crypto-related stocks are likely reacting positively to the election results
02:08because Trump has positioned himself as a crypto president and promised tax cuts to
02:12prominent CEOs including Apple's Tim Cook and JP Morgan's Jamie Dimon.
02:17Bitcoin reached an all-time high Wednesday, skyrocketing past the $76,000 mark in reaction
02:23to Trump's electoral victory.
02:25For more on this story, check out Antonio Pequeno IV's article in the link in the description.

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