As an analyst with years of experience observing market dynamics and billionaire behavior, I find it intriguing to see how the fortunes of certain individuals can be so closely tied to political events. In this case, the election of Donald Trump has proven to be a significant catalyst for the wealth of notable figures like Elon Musk, Jeff Bezos, and others.
The massive increase of approximately $20 billion in the net worth of Elon Musk, a prominent business tycoon and chief executive officer of Tesla, was observed after the election of Donald Trump as the U.S. President.
According to Forbes’ report, Elon Musk – a significant financial supporter of Trump – experienced an increase of over 7.5% in his wealth within a single day, reaching a staggering $285.6 billion.
Moreover, Tesla’s shares (TSLA) ended the day with an approximately 15% increase, peaking at $286.74 during post-market transactions – a level last seen in September 2022, as per Google Finance data.
As a crypto investor, I couldn’t help but express my enthusiasm over Trump’s triumph, long before the official announcement of his win in the presidential race.
On November 6th, Elon Musk, CEO of SpaceX, expressed on his social media platform that Donald Trump had been presented with a “clear, unambiguous call for change.
In his subsequent post on November 7th, he stated that the American people have unequivocally made their voices heard, referring to the U.S. Department of Justice’s decision to dismiss their charges against Donald Trump, which alleged fraud and an illegal attempt to overturn the 2020 election results.
In the recent election, Elon Musk, who previously joined forces with Donald Trump in Pennsylvania, stood much to gain or lose. This is because he is known to have contributed at least $119 million to a political action committee backing the ex-president, as reported by The New York Times.
Elon Musk was not the only billionaire who got richer following Trump’s victory.
On Wednesday, after Amazon’s shares (AMZN) surged 3.8%, Jeff Bezos, currently the second richest person globally, following Elon Musk, experienced a boost in his net worth by approximately $7 billion, reaching an impressive total of $223.5 billion. This increase brought Amazon’s stock price to a record high of $207 at the close of trading on that day.
On November 6th, the stock of Coinbase, led by CEO Brian Armstrong, skyrocketed by an impressive 31%, adding approximately $2.6 billion to his net worth, now estimated at around $11 billion.
Michael Saylor, the founder of MicroStrategy and a Bitcoin enthusiast, saw an improvement of approximately $600 million in his net worth, which now stands at around $6.6 billion. This substantial increase is due to a 13% rise in company stock, causing MSTR to reach its yearly high of $258, matching the same value it had earlier this year.
In my analysis, I’ve noticed an impressive surge of approximately 40% in the value of Dogecoin (DOGE) post the election results, propelling its price to a high of $0.21 – the highest it’s been since April. As an analyst, this significant jump is noteworthy and adds to the intrigue surrounding Elon Musk’s much-talked-about memecoin.
memecoins related to Donald Trump have not sustained their initial popularity, as many of these digital tokens have plummeted by more than 50% within the last day.
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2024-11-07 09:22