Wednesday’s election proved to be a remarkable day not only for Donald Trump but also for the world’s wealthiest individuals, who experienced an unprecedented boost in their fortunes, according to Bloomberg’s Billionaire Index.

Elon Musk, the richest person globally and a vocal supporter of Trump saw the largest gain as his net worth surged by $26.5 billion, reaching $290 billion.

Amazon founder Jeff Bezos saw his wealth grow by $7.1 billion just a week after defending his choice to withhold the Washington Post’s endorsement of Vice President Kamala Harris.

Oracle co-founder Larry Ellison, another of Trump’s supporters, watched his fortune increase by $5.5 billion on Wednesday.

Others who benefited included former Microsoft executives Bill Gates and Steve Ballmer, former Google executives Larry Page and Sergey Brin, and Berkshire Hathaway CEO Warren Buffett. Although none of these billionaires endorsed any candidate in this election cycle, many have previously spoken in favour of Democratic leaders and causes.

Together, the 10 wealthiest people gained a record $64 billion in one day. Bloomberg called it the “biggest daily increase” in wealth recorded since the index was established in 2012.

The markets rallied on Wednesday as the election wrapped up swiftly, sparking investor optimism that Trump’s administration would usher in a “business friendly, tax-friendly regime,” likely marked by deregulation and other pro-business measures that investors believe will lift the stock market overall.

Michael Block, COO at AgentSmyth, commented on the broad expectation of favorable changes ahead, noting the “huge perception” of a friendlier economic climate, “especially with them winning the Senate.”

Truth Social owner Trump Media & Technology Group, Trump’s social media company, also cashed in with shares skyrocketing in value. The stock rose as much as 35% at one point before fading.

(CNN)