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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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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LifestyleTranscript
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.