10 people profit $8.9 billion from Trump rally


Warren Buffett may have voted with his heart for Hillary Clinton. But his wallet is profiting from Donald Trump’s victory.

Buffett is one of 10 investors and executives, along with former CEO of Wells Fargo (WFC) John Stumpf, and Laurene Jobs, a large owner of Apple (AAPL) stock and widow of Steve Jobs, who collectively hauled in $8.9 billion since the election on shares they own, according to a USA TODAY analysis of data from S&P Global Market Intelligence. These are the largest individual holders of stocks in the Standard & Poor’s 1500 that generated the most wealth since the Nov. 8 election, putting them in a good position to capture much of the gains.

Such large gains are a reminder of the value of being an investor even when the masses sit out. The stock market has generated roughly $1.5 trillion in paper wealth since the election, but nearly half of Americans most likely missed out. That’s because as of last year, only 52% of Americans were invested in the market, according to a Gallup poll.

There’s some irony in all this. Warren Buffett has been one of the largest skeptics of Trump, with the two men even getting into a war of words over Buffett’s tax-paying history. Even so, Buffett is by far the biggest financial winner since the election. The value of his 18% stake in the diversified company has risen $6.7 billion since the election, vastly more than any of the other winners. Buffett’s exposure to the financial industry has fueled much of the gains, since the sector has been the biggest winner from Trump’s victory. Investors are hopeful higher interest rates and lighter regulations could boost financials’ profits.

It’s not just the money men making bank. Laurene Jobs’ 128.3 million shares of Walt Disney, resulting from her husband’s sale of the Pixar movie studio to Disney in 2006, have gained $1.8 billion in value since the election. And there have been more big individual winners beyond those at companies with the biggest increases in market value. The value of Microsoft has risen $18.5 billion since the election, generating a $437 million gain for co-founder Bill Gates.

Not sure if the stock market gains make these people happier about the election, but it certainly makes them richer.

[Source:- usatoday]