Billionaires and business owners lost hundreds of billions after the Democrats won the US Congress. Elon Musk suffered the biggest losses, and Nvidia CEO Jensen Huang dropped out of the top 10 richest people in the world, analysts said. According to them, Musk's fortune decreased by 79.7 billion dollars.
Huang - at $15.1 billion.
Oracle co-founder Larry Ellison - $10.1 billion. The drop in capital came amid a sell-off in technology stocks following the Democratic victory in the November 4 election. Investors fear that the Democratic Party, after gaining control of the House of Representatives and the Senate, could limit the construction of data centers necessary for the development of artificial intelligence. Against this background, Nvidia shares fell 9.3% on November 5, showing the biggest one-day decline since January 2025. SpaceX stock lost 9%, and Oracle lost 6.9%. In total, the 500 participants in the Bloomberg Billionaires Index lost about $200 billion on November 5.