Warren Buffett and Jensen Huang’s fortunes soar $12 billion after staying silent on election

Silence pays off for billionaires Buffett and Huang and they see massive gains as markets react to election outcome.

In the aftermath of the U.S. presidential election, Warren Buffett, Jensen Huang, and Larry Page, who all refrained from endorsing a candidate, have seen substantial gains in their net worths as markets responded positively. 

With the S&P 500 rising by 2.5% and the Nasdaq by 3% following the confirmation of Donald Trump’s second term, these top billionaires have benefited from an overall surge, adding $12 billion to their combined fortunes.

Berkshire Hathaway CEO Warren Buffett, notably reserved on the election, increased his wealth by $7.6 billion as his company’s share price rose 5.3%. 

Berkshire Hathaway recently released a statement addressing fraudulent endorsements circulating online, affirming, “Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and support political candidates.” 

This disclaimer followed AI-generated deepfakes of Buffett’s supposed endorsements.

Nvidia CEO Jensen Huang, also politically neutral, saw a $4.8 billion increase in his net worth as Nvidia shares rallied by 4%. 

Huang’s approach to business stability emphasized bipartisan respect: “One thing that’s really important is… to have a stable policy. I appreciate the challenges it has on the administration,” he said on CNBC, underscoring his faith in balanced, well-informed decisions on policy matters.

Meanwhile, Alphabet co-founder Larry Page benefited from a $5.5 billion increase in wealth, riding the wave of Trump’s regulatory stance favoring the tech industry. 

Despite Page’s silence, which contrasted with former partner Elon Musk’s open support of Trump, his fortunes soared as investors responded favorably to expectations of a market-friendly administration.

The world’s 10 wealthiest individuals collectively saw a $64 billion boost in a single day, with figures like Tesla CEO Elon Musk and Amazon’s Jeff Bezos also reaping major gains. 

Musk, a Trump campaign donor, amassed $26.5 billion in newfound wealth due to Tesla’s rally, while Bezos saw his net worth increase by $7.1 billion. 

Defending his decision to withhold the Washington Post’s presidential endorsement, Bezos stated, “What presidential endorsements actually do is create a perception of bias,” emphasizing his dedication to keeping the paper’s editorial independence intact.