Top 5 Billionaires See Massive Gains After Trump’s 2024 Win! Bitcoin Hits Record High of $76,000, Boosting Musk, Bezos, and Armstrong’s Net Worths!
The 2024 U.S. presidential election has had a massive impact on the cryptocurrency market, and it’s not just investors who are noticing the surge. Following Donald Trump’s victory in the election, Bitcoin reached an all-time high of $76,000, and many of the world’s wealthiest individuals—especially those closely connected to cryptocurrency—saw their net worth skyrocket. This article delves into how Trump’s win and Bitcoin’s record surge have benefited the top 5 billionaires and what it means for the future of cryptocurrency.
Bitcoin Hits Record $76,000 After Trump’s Win
Bitcoin’s price jumped to an impressive $76,000 after Donald Trump secured his re-election. This increase is because more people trust Trump’s support for cryptocurrency. He has openly backed digital assets and wants to make America the “crypto-capital of the world,” which is seen as good for the industry. Many investors believe Trump’s leadership could bring favorable rules for the crypto market helping it grow more.
As Bitcoin hit a new record high, it increased the wealth of important people in the cryptocurrency world. Top billionaires like Elon Musk from Tesla and Jeff Bezos from Amazon saw their fortunes grow a lot because of the cryptocurrency boom.
Top 5 Billionaires Who Gained From Bitcoin’s Surge
Here are the top 5 billionaires who benefited the most from the Bitcoin surge following Trump’s re-election:
Elon Musk
Elon Musk CEO of Tesla and the world’s richest person saw his net worth jump by an impressive $21 billion after Bitcoin’s rise. Musk, a strong supporter of Bitcoin and other cryptocurrencies, watched Tesla’s stock go up nearly 15% to $288.53—its highest price this year.
Musk’s total wealth now stands at approximately $285.6 billion, cementing his position as the world’s richest person. The surge in Bitcoin prices also boosted Tesla’s investment in the cryptocurrency, further benefiting Musk’s fortune.
Jeff Bezos
Jeff Bezos, the founder of Amazon and the second-richest person in the world, saw his wealth grow by $7 billion, bringing his total to $223.5 billion. Amazon’s stock went up by 3.8%, boosting Bezos’s fortune. While Bezos isn’t as involved in cryptocurrency as Musk he does invest in blockchain technology. He could benefit from Trump’s pro-crypto policies.
With this growth, Bezos maintains his position as the second-richest person in the world, though the gap between him and Musk has narrowed in recent months.
Brian Armstrong
Brian Armstrong, the CEO of Coinbase, the largest cryptocurrency exchange in the United States, also saw a significant increase in his wealth. After Bitcoin reached its record high, Armstrong’s net worth rose by $2.6 billion, bringing it to $11 billion. Coinbase’s stock rose 31%, closing at $254.31 per share, which further helped boost Armstrong’s fortune.
As a leading figure in the crypto space, Armstrong stands to benefit greatly from the continued rise of digital currencies. Coinbase’s success is closely linked to Bitcoin’s value, and with the positive market outlook after Trump’s win Armstrong’s wealth is likely to keep growing.
Larry Ellison
Larry Ellison co-founder of Oracle, saw his net worth increase by about $12 billion, bringing his total wealth to $220.8 billion. While Ellison is not directly involved in cryptocurrency, he has invested a lot in blockchain technology, and his company Oracle has been getting involved in the crypto world.
Ellison’s wealth growth highlights the broad impact of the cryptocurrency surge. As more companies and investors embrace digital assets, even those with indirect ties to crypto can experience significant financial gains.
Warren Buffett
Warren Buffett, the famous investor and chairman of Berkshire Hathaway, also saw a big increase in his wealth. His net worth went up by $7.6 billion, reaching $147.4 billion. This rise was partly because Berkshire Hathaway’s stock went up by 5% and the positive outlook on the crypto market.
Buffett who has often criticized cryptocurrency may be seeing changes in the financial world. While his company doesn’t directly invest in Bitcoin, the rise of crypto might be helping its investments in other tech companies.
The Ripple Effect on Other Billionaires
The wealth of other billionaires other than the top 5 billionaires also rose in the wake of Bitcoin’s surge. Michael Saylor, the founder of MicroStrategy, a company that invests a lot in Bitcoin, saw his wealth grow by almost $600 million, bringing his total net worth to $6.6 billion. MicroStrategy’s stock went up 13%, which helped increase Saylor’s fortune.
Vlad Tenev and Baiju Bhatt, the co-founders of Robinhood, also saw their net worths increase. Robinhood’s stock went up by nearly 20%, adding millions to their wealth. Tenev’s net worth grew by $300 million, and Bhatt’s went up by $307 million.
What This Means for the Future of Cryptocurrency
The record surge in Bitcoin’s price following Trump’s re-election signals a new chapter for cryptocurrency. With Donald Trump’s pro-crypto stance and desire to support digital assets, the market is expected to grow even more in the coming years. For the top 5 billionaires like Musk, Bezos, Armstrong, and others, Bitcoin’s rise has brought substantial financial rewards.
In conclusion, Trump’s victory has not only sparked a Bitcoin surge but has also created a wave of wealth for some of the world’s richest individuals. As the crypto market thrives, so does the fortune of those who have embraced it.
For the latest updates on US Election 2024 and cryptocurrency news, visit Coin Mozo on X.
Also Read: Donald Trump Acceptance Speech 2024: Will He Keep His Pre-Election Crypto Promises?
