|By Achuva Shats|
November 8, 2016
With the latest announcement from the FBI that U.S. Democratic presidential candidate Hillary Clinton had again been cleared of any wrongdoing in her handling of e-mails, the stock market rallied as it appeared her chances of becoming president rose. Per Bloomberg, billionaires in the United States seem to be on Hillary's side, with 17 of the richest donating to her campaign. As of Friday’s, close at 12:24 p.m. in New York, the world's richest got richer. Based on predictions of a Hillary Clinton presidential win over Donald Trump, the Bloomberg Billionaires Index was $4.4 trillion, or an increase of .9 percent.
U.S. Presidential Election Impacts Billionaires Net Worth as Middle Class Drives to the Polling Stations
The markets rallied on the news that U.S. Republican candidate Donald Trump would likely lose to rival Democratic candidate Hillary Clinton in Tuesday's presidential election. The .9 percent increase means the world's wealthiest accrued another $37 billion dollars thus. This movement in the markets suggest that investors feel more confident with a Clinton presidency that will likely signal more of the same of what President Obama must offer, while the Trump presidency is unpredictable, per Cabot Wealth Management Inc's chief investment officer.
At the top of the billionaire gain was the founder of Amazon, Jeff Bezos, followed by Warren Buffet, ranked number three and four in the world of billionaires globally. Billionaires in the United States comprise about a third of the Bloomberg ranking, and were the ones who showed the greatest gains in the group globally.
The impact of Trump's rhetoric about Mexican's as "bad hombres" and "rapists" has also impacted choices of billionaires, with Telecom owner Carlos Slim adding $2.2 billion to his purse as the peso followed the rally in anticipation of a Trump defeat. Bill Gates, the richest person in the world, gained $700 million in the surge. According to Bloomberg, the top 140 billionaires gained over $100 million.