The richest made a $35.4 billion growth in a day - November 08, 2016
Investors would prefer Hillary Clinton’s win on the presidential election today as it would mean a well-known business environment in the future, turned out on Monday. Bloomberg wrote about how the wealth of the richest people grew $35.4 billion after the markets speculated Clinton’s win on the election today, and they had some good reasons for the rapid growth.
First, Clinton’s hope for winning the election strengthened after the FBI announced that her e-mail scandal isn’t a crime after all. This made investors hoping for her win again, urging the stock markets to a rally. This lead the richest to grow their wealth by 0.8%, making up to a total growth of $35.4 billion. This also means that the richest now have $4.4 trillion combined.
The reason behind this rally is that markets believe that during a Clinton presidency the changes (in regulations for example) will be smaller and the business environment will be similar to what they got used to in the last 8 years. This also means stability for them and that is always a welcome addition to growth. A Trump presidency would bring bigger changes, and it seems they are not ready for that.
It also turns out, that the richest are really hoping for Clinton. “U.S. billionaires prefer a Clinton presidency, as measured by their donations to the two candidates”, writes Bloomberg.
The next important milestone to watch might be Wednesday morning, as results will start to come out and the market will probably react to the developments. After we know more about the results, we will be back with an analysis.