Although the nation seems divided on President Trump, one thing that is certain is that the markets have improved since his election in November. And, although Warren Buffett didn’t support Trump during the presidential race (in fact, he was an outspoken advocate of Hillary Clinton), it seems like he has been doing quite well under the new administration.
We reported a few months ago that Buffett had gained quite a bit of money after the President was elected. As it turns out, out of all of the world’s billionaires, Buffett actually earned the most additional income under Trump’s reign. For someone who didn’t support Trump, he certainly has made quite the pretty penny off of it.
In fact, according to Forbes, Berkshire Hathaway shares have reportedly risen 12% since Election Day, netting Buffett an additional $9.5 billion since November. That impressive increase in Berkshire’s stocks is likely a result of Trump’s promises of deregulation for corporations and his proposed tax reforms. Berkshire Hathaway also reported that it invested around $12 billion into equities since the election.
Of course, the person who is the least surprised by this is likely Warren Buffett himself. Despite his disagreements with the President, the billionaire investor told reporters that he wasn’t worried about the outcomes from a business standpoint.
“I will predict that if either Donald Trump or Hillary Clinton become president, Berkshire will do fine,” Buffett told shareholders at the meeting in 2016 when asked about the possible impact of the election. Looks like the Oracle of Omaha is right again.