U.S. President Donald Trump may have accused China of manipulating currency and stealing American jobs, but that rhetoric is not stopping Chinese billionaires from making more money today.
Data from the Bloomberg Billionaires Index showed that the 36 Chinese billionaires it tracks have increased their fortune by 13.2% since Trump was elected on November 8. That’s a $39.2 billion bump that puts their combined net worth to a whopping $336 billion.
With $35.8 billion, Alibaba’s Jack Ma currently sits as China’s richest man, followed by Dalian Wanda’s Wang Jianlin ($31.6 billion) and SF Express’s Wang Wei ($24.6 billion). Their financial gains reportedly top those earned by billionaires from any other country except the U.S.
But for some, Trump’s victory also signaled the beginning of their wealth’s decline. Since November 8, Mexico’s eight billionaires have seen their fortune fall by 5.1%. Carlos Slim, the wealthiest in Latin America, saw his wealth fall by $4.2 billion to $50.7 billion.
The decrease appears to be the result of a hammered peso. Yet Slim, who has stakes in Philip Morris and The New York Times, remains the sixth-richest person on face of the planet.
In total, the world’s wealthiest made $207 billion more since Trump’s win, a 4.7% increase in net worth. Their combined wealth is now at $4.6 trillion.