The second richest man in the world reaches a new historic milestone. Donald Trump’s victory in the US presidential elections has triggered a wave of euphoria on Wall Street and in Silicon Valley. Particularly profitable wave for Jeff Bezos, CEO and founder of Amazon, who saw his personal fortune soar by $7 billion in a single day.
A meteoric rise driven by Amazon
The e-commerce giant’s stock hit a record high of $207.09 on Wednesday, bringing the valuation of its founder’s assets to $228 billion. A sum greater than the GDP of certain countries such as Ecuador, New Zealand or Slovakia.
This performance is explained by Bezos’ holding of more than 926 million shares, or nearly 9% of Amazon’s capital. And it must be said that the company is in good health: it has posted spectacular stock market growth of more than 40% since the start of the year.
American billionaires, big winners of the vote
Bezos wasn’t the only one to benefit from the Trump effect. The five richest people on the planet collectively raked in an additional $53 billion on Wednesdaywith investors happily betting on regulatory relief and tax cuts under the new administration. Elon Musk, the world’s largest fortune and declared supporter of the Republican candidate, saw his assets rise by 26.5 billion to reach the colossal sum of 290 billion dollars.
This electoral victory could also benefit Bezos’ space ambitions. Blue Origin, its private space company, has already won very lucrative government contracts : 5.6 billion dollars from the Pentagon last June and 3.4 billion from NASA the previous year.
THE Washington Postowned by the billionaire, had made the controversial choice not to take a position during the campaigna first in several decades which led to the departure of numerous journalists from the editorial staff and the loss of 250,000 subscribers.
The results of this election therefore generated a feeling of confidence among investorswho anticipate a long period of deregulation and tax cuts favoring large companies and financial markets above all. It is precisely this dynamic that contributed to this very marked increase in stock market valuesparticularly in the tech sector.
- Trump’s victory triggered a veritable explosion in the financial markets, pushing Jeff Bezos’ fortune to $228 billion in one day.
- The wealthy, including Elon Musk, collectively earned $53 billion in a single day.
- Investors see favorable prospects for tech companies in this administration, thus boosting stock values.
