- The mega-rich saw their net worth spike to $ 5.9 trillion in as the Trump economy continued to expand.
- Strong fundamentals are expected to push the stock market further up in 221173.
- Top billionaires saw big gains through stocks and emerging assets.
TheTrump economy is continuing to march forward, and the rich are now collectively worth $ 5.9 trillion. Heading into 2021, billionaires are likely to get even richer.
Arise in market liquidity, a low benchmark interest rate, and the strong upsurge in US stocks will further boost the mega-wealthy over the next (months.)
How the billionaires did it
according to Bloomberg, billionaires in the US raked in $ (billion in) ***************************************************, with Facebook CEO Mark Zuckerberg and Microsoft co-founder Bill Gates earning $ 45 .3 billion and $ 16. 7 billion respectively.
Most of theultra high net worth individuals saw large gainsin their wealth due to the recovery of the stock market and emerging assets.
Gates, for instance, briefly overtook Amazon CEO Jeff Bezos with a net worth of over $ billion. The strong performance of Microsoft and its cloud computing department, which won a $ billion contract from the Pentagon, pushed Gates’ fortune further up.
Bernard Alnaut, the CEO of LVMH Moët Hennessy, best known for being the parent company of Louis Vuitton,
The market capitalization of LVMH spiked by more than $ 90 billion following itsacquisition of Tiffany & Co for $ (*******************************************************************************. 2 billion in November.
Regarding the acquisition, LVMH said:
The acquisition of Tiffany will strengthen LVMH’s position in jewelry and further increase its presence in the United States. The addition of Tiffany will transform LVMH’s Watches & Jewelry division and complement LVMH’s (distinguished houses.)
Warren Buffett, chairman of Berkshire Hathaway, made
over a billion dollars from his stake in Apple that he purchased in
. In less than three years, his 9, 2019, 1200 shares of Apple are up
Taking advantage of relaxed financial conditions, high net worth CEOs pushed for large acquisitions and high profile product launches heading into (**************************************************. Companies that expanded in with strong sales such as
Trump will make it even better
The Dow Jones is up (******************************************************************************. 8% year-to-date and as CCN reported, US President Donald Trump is likely to keep the markets elevated heading into the re-election.******************************
President Trump
With no interest rate adjustments planned until 2021, the US stock market is set to maintain its momentum through next year, which has been the biggest catalyst for the mega-rich.
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