Following Donald Trump’s victory at the poll on Tuesday, Changpeng Zhao, who founded Binance and owns an estimated 90% of the world’s largest cryptocurrency exchange, saw his net worth soar by about $12 billion making him the 23rd richest man alive according to Bloomberg Billionaire Index.
Edum News gathered that following Trump’s win, Zhao became the second-biggest wealth gainer as Elon Musk became $26.5 billion richer as Tesla stock soared.
With this increase, the net worth of the Canadian who reside in Dubai has increased by $24.7 billion or 71.8%.
Bitcoin, the most popular crypto, surged to record highs of about $75,000 on hopes that digital currencies will face an easier regulatory environment under Trump.
Also, Ethereum, Solana, Ripple, Dogecoin, and other tokens have also jumped following the former president’s reelection.
The Republican candidate’s decisive victory over his Democratic rival, Kamala Harris, has relieved concerns in financial markets.
With this win, the world’s 12 richest people grew more than $70 billion richer in a single day, according to Bloomberg’s wealth rankings.
Musk led the charge as Oracle’s Larry Ellison also gained about $10 billion, while Berkshire Hathaway’s Warren Buffett and Amazon’s Jeff Bezos gained more than $7 billion each.
