Tech Billionaires See Record Wealth Surge of Nearly $64 Billion

The wealth of the world’s top 10 richest individuals—largely U.S. tech billionaires—soared to new heights following the recent presidential election, with a remarkable daily increase of nearly $64 billion. This record gain on Wednesday, driven primarily by a spike in U.S. stocks, marked the largest single-day boost ever seen for the group.

Elon Musk, the CEO of Tesla and the world’s wealthiest person, led the surge with a $26.5 billion rise in his net worth, elevating his fortune to $290 billion. Musk benefited significantly from a strong upswing in Tesla’s share price, in which he holds a 13% ownership stake. The spike also positively impacted other tech moguls, including Amazon’s Jeff Bezos, Meta’s CEO Mark Zuckerberg, and Apple’s Tim Cook.

The rally in U.S. stocks on Wednesday was largely attributed to investor expectations of a policy landscape favoring low taxes and relaxed regulations. Jeff Bezos, Amazon’s founder and the second-richest person globally, saw his net worth increase by $7 billion, reaching nearly $230 billion. Oracle’s chair, Larry Ellison, added nearly $10 billion to his wealth, now totaling $193 billion.

Additional beneficiaries among the top 10 included Microsoft co-founder Bill Gates, former Microsoft CEO Steve Ballmer, and Google co-founders Larry Page and Sergey Brin. The only member of this elite wealth group to see a decline was Bernard Arnault, the French luxury goods magnate, whose fortune fell by approximately $3 billion. Zuckerberg’s wealth also saw a minor dip of $81 million, though his overall net worth remained at $202 billion.

Neil Wilson, chief analyst at brokerage firm Finalto, attributed Wednesday’s market rise to what he described as a “pure MAGA trade.” He explained that the boost was fueled by expectations of reduced taxes and deregulation in sectors like banking, energy, and technology, along with investor relief over an undisputed election outcome.

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