The wealth of the 10 richest people in the world – a list dominated by US tech billionaires – increased by a record amount after Donald Trump’s victory in the presidential election, according to a widely cited index.
The Bloomberg Billionaires Index estimated that the world’s 10 wealthiest people gained nearly $64bn (about £49.5bn) on Wednesday, the largest daily increase since the index began in 2012.
Elon Musk, the world’s richest person, registered the largest increase with a $26.5bn addition to his fortune, which now stands at $290bn. The prominent backer of Trump’s campaign, benefited from a surge in the share price of Tesla, the electric carmaker where he is chief executive and in which he owns a 13% stake.
On the stock markets (worldwide) it felt like someone held back the whole time and then started investing large sums.
I also immediatelty scrapped all my plans about buying US stock. Everything has to be reevaluated 😕
Maybe I’ll have to reconsider my Taiwan investments, too.
Berkshire Hathaway had built up $300B in cash reserves - maybe Warren decided it was time to buy?
Makes sense. You’d want to hold back on buying until the market becomes clearer.