The top ten wealth winners after Trump's victory
Many business giants have emerged as winners in this political game, and their wealth has significantly increased in a short period of time.Author: Frank, PANews
The dust has settled on the 2024 U.S. presidential election, and Trump's victory has not only attracted global attention but also stirred new waves in the business world. Many business giants have emerged as winners in this political game, with their wealth significantly increasing in a short period.
Moreover, due to Trump's favorable stance towards the crypto world, this political game has evidently brought a glorious moment to the crypto space. Recent market performance has confirmed this, with Bitcoin continuously breaking new highs, reaching a peak of $89,000 on the morning of November 12. Various mainstream coins and MEME coins have collectively surged, and the entire crypto industry seems to have finally welcomed a moment of victory celebration. A week after the election, PANews has compiled a list of the top ten wealth winners due to Trump's victory, with data as of November 12.
Elon Musk
Aside from Trump himself, Elon Musk may be one of the biggest winners of this election. However, Musk did not initially bet on Trump; as early as 2016, after Trump was first elected president, Musk participated in policy discussions as part of the economic advisory team. Later, after Trump announced the U.S. withdrawal from the Paris Climate Agreement, Musk announced his exit from the advisory team. Until 2022, before acquiring Twitter, Musk stated, "I think it's important to have an inclusive and trustworthy digital public space." He added, "Otherwise, how can we help Trump get elected president in 2024?" Subsequently, after Musk acquired Twitter, he promptly reinstated Trump's Twitter account.
As the 2024 election approached, Musk made substantial donations to Trump's campaign through his established political action committee (America PAC), announcing a donation of $75 million in July and an additional $47 million in October. According to insiders, Musk's Super PAC spent about $200 million to support Trump's campaign. In addition, Musk has repeatedly stood on stage to promote Trump, truly going ALL IN for Trump.
Clearly, after Trump's victory, Musk's returns have also been the largest. In just the past week, Tesla's stock price rose by 60%, bringing its market value back to $1.1 trillion. Musk's net worth also soared by $70 billion in a week, reaching $335 billion, equivalent to about 2.3 trillion yuan. Of course, this is likely not the final fruit of Musk's bet on Trump's victory; with the policies expected to be introduced after Trump officially takes office, more returns are anticipated. However, from a one-week perspective, Musk turned an investment of $122 million into a $70 billion increase in net worth. The short-term return has reached 573 times, and from this angle, Musk truly deserves to be called the "Lü Buwei" of contemporary America.
Larry Ellison
Larry Ellison is the co-founder and chairman of Oracle. Throughout the years, he has been one of the few tech leaders in Silicon Valley to openly support Trump. As early as 2020, Ellison hosted a fundraising event for Trump. In this round of campaigning, Ellison donated $20 million to a Super PAC in 2022 to support the Republican Party, accounting for 78% of the PAC's fundraising at that time. Although Larry Ellison did not publicly support Trump like Musk, this ally-like relationship behind the scenes seems not to have been forgotten by the market.
After Trump's victory, Larry Ellison's wealth surged by nearly $18 billion, with his net worth jumping to $204 billion, equivalent to about 1.4 trillion yuan.
Jeff Bezos
As the founder of Amazon and owner of The Washington Post, Jeff Bezos's political stance has attracted significant attention. During the 2016 and 2020 U.S. presidential elections, The Washington Post openly supported Democratic candidates and criticized Republican candidate Trump. However, on the eve of the 2024 presidential election, The Washington Post announced it would no longer endorse any candidates, a move seen as a gesture towards Trump or an attempt to avoid conflict if Trump were to be elected.
In terms of impact, after Trump's election, as tech stocks surged, Bezos's net worth also increased by $11.5 billion, reaching $223.5 billion.
Brian Armstrong
Brian Armstrong is the CEO of Coinbase, and during the 2024 U.S. presidential election, he did not publicly express support for any specific candidate. Perhaps out of consideration for Coinbase's interests, he stated that regardless of the election outcome, the U.S. government would maintain a friendly attitude towards cryptocurrencies. After the election, Brian Armstrong regarded Trump's victory as a win for cryptocurrency, emphasizing that political support for digital assets had increased.
Regardless of Brian Armstrong's true political stance, Coinbase has become one of the winners in this election. In the past month, Coinbase's stock price rose by 83.8%, and Brian Armstrong's net worth also increased by $5.6 billion in a week, reaching $14 billion. In terms of growth, Brian Armstrong is undoubtedly one of the biggest winners among these super-rich individuals.
MicroStrategy
As one of the largest holders of Bitcoin, MicroStrategy has become one of the best-performing U.S. stocks this year. The price has risen by 573.4% this year, and after Trump's election victory, benefiting from Bitcoin breaking $89,000 and reaching a new high, MicroStrategy's stock price also surpassed $340, creating a historical high. In the past month, MicroStrategy's stock price has increased by about 59.9%.
On the evening of November 11, MicroStrategy announced that it had purchased 27,200 Bitcoins between October 31 and November 10, at a cost of about $2.03 billion, with an average purchase price of approximately $74,463 per Bitcoin. This purchase was funded through the company's ATM stock sale activities. Currently, MicroStrategy's total holdings have reached 279,420 Bitcoins, with a total acquisition cost of about $11.9 billion, and an average purchase price of approximately $42,692 per Bitcoin. Based on the Bitcoin price of $89,000, MicroStrategy's Bitcoin holdings have an unrealized profit of about $12.9 billion.
French Trader Théo
As the biggest winner on the U.S. election prediction market Polymarket, the story of French trader Théo has attracted much attention. Through exclusive neighbor surveys and large bets, Théo earned over $48.5 million in this election. Unlike the rising fortunes of other wealthy individuals, Théo's earnings are real cash returns. From this perspective, he may well be considered the biggest winner.
However, winners on Polymarket are always in the minority. According to OKG Research, only three accounts made over $10 million, with about 12% of accounts achieving positive returns.
$PNUT Holders
In the MEME token space, there are several tokens related to the U.S. election. However, based on the results on election day, both Trump-related and Harris-related tokens seem to have performed poorly. This MEME coin, centered around a squirrel internet celebrity persecuted by law enforcement, was heavily promoted by Musk during the election, sparking market interest. With the election results in, Pnut, as a successful MEME experiment against the Democratic Party, has also been recognized by the market. On November 11, Binance announced it would list the $PNUT token. Following this news, the price of $PNUT surged by about 2 times, reaching a market cap of $450 million.
Cardano
Charles Hoskinson, the founder of Cardano, has expressed support for Trump regarding cryptocurrency policies on various occasions. This low-cost bet has undoubtedly brought significant returns to Cardano. During the TOKEN2049 conference in Singapore in September 2024, Hoskinson stated in an interview with CNBC, "From a cryptocurrency perspective, between Harris and Trump, Trump is undoubtedly the most popular candidate."
On November 10, Hoskinson reiterated his willingness to cooperate with the U.S. government under Trump's leadership to help formulate cryptocurrency legislation, aiming to create a clear regulatory framework for the cryptocurrency industry. Influenced by this news, the price of Cardano's governance token ADA surged by 106% from November 5 to November 10, almost becoming the token with the largest increase among mainstream tokens. ADA's market cap also approached $30 billion, with an increase of $15 billion in a week.
Overall Crypto Market
Thanks to Trump's previous statements about introducing favorable policies for the cryptocurrency market after taking office, the global crypto market has also benefited overall. From a market cap perspective, since the campaign entered its final stage, the overall crypto market cap has been steadily climbing. From $2.19 trillion on November 5 to a peak of $3.1 trillion on November 12, setting a new historical high. From this perspective, the crypto market is the biggest winner following Trump's election. Of course, as of now, the entire crypto market seems to still be under the positive stimulus of the election.
