According to Bloomberg's report on November 5th, as the Democrats won the U.S. midterm elections this year, stock markets declined. The net assets of Nvidia CEO Jensen Huang, SpaceX’s Elon Musk, and Oracle co-founder Larry Ellison have decreased by a total of $104.9 billion.
Among them, Musk suffered the greatest loss, with his net assets decreasing by $7.97 billion. Jensen's wealth decreased by $1.51 billion, to $150.9 billion, causing his ranking on the “Bloomberg Billionaires Index” to fall from ninth to thirteenth. Meanwhile, Ellison's wealth decreased by $1.01 billion.
From left to right: Allison, Harris, Musk
Bloomberg pointed out that market expectations are that the Democratic-controlled U.S. Congress may restrict the construction of data centers—which are a key component of AI infrastructure.
This expectation has led to a decline in the stock prices of semiconductor manufacturers and computing power suppliers. NVIDIA’s stock price dropped by 9.3%, marking the largest single-day drop since January 2025; SpaceX’s stock price fell by 9%, while Oracle’s stock price dropped by 6.9%.
On November 3rd, local time, the U.S. mid-term elections began. Voters voted to elect 35 seats out of 100 senators, as well as all 435 members of the House of Representatives. In addition, gubernatorial elections were held in 36 states. According to the latest estimates by U.S. media, the Democratic Party is expected to gain a majority of seats in both the Senate and the House of Representatives. Prior to the elections, the Republican Party had a majority of seats in both chambers.
