Trump Elected 47th President

ELECTION
Trump Elected 47th President

Donald Trump has been elected the 47th president of the United States, securing over 270 electoral votes to defeat Kamala Harris. The victory marks a stunning return to power for the 45th president, who was able to hold onto the states he was expected to win, along with crucial battleground states like North Carolina, Georgia, Pennsylvania, and Wisconsin.

While some states are still finalizing results, Trump addressed a cheering crowd at his Florida campaign headquarters, reaffirming his “Make America Great Again” slogan. He hailed the election result as a “magnificent victory” for the American people and declared the start of a new “golden age.”

Trump also highlighted the Republican Party’s recapture of the Senate, calling it an unprecedented mandate. “I hope one day you’ll look back and consider this one of the most important days of your life,” he told his supporters.

The consequences of a second Trump presidency will be significant, especially regarding the economy, businesses, and the cultural landscape. In the coming days, Fortune will provide in-depth coverage, analysis, and reactions to this momentous election result.
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ELON MUSK
Election Boosts Tesla Stock Overnight

Tesla shares surged over 8% in after-hours trading as Trump’s potential victory gains traction. Robinhood showed Tesla hitting a 52-week high of $272 around midnight EST, while the stock remained up 2.9% on the Nasdaq at $258.70 in late trading. This rally comes as Elon Musk, a prominent Trump supporter, has backed Trump’s campaign with at least $132 million in donations, solidifying Musk's political alignment in recent weeks. Trump, holding 230 electoral votes with several swing states uncalled, has fueled optimism among Tesla investors and market analysts.

Cathie Wood, CEO of Ark Invest, noted the election could serve as a market catalyst, stating, “Innovation gains traction in volatile times.” Bitcoin reached a record high, while U.S. stock futures rallied late Tuesday.

Meanwhile, Musk’s America PAC giveaway, designed to support the Constitution's First and Second Amendments, faced legal challenges in Pennsylvania but ultimately continued. Trump has also proposed Musk head a government efficiency commission, with Musk claiming he could cut $2 trillion from the federal budget in that role.
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BILL ACKMAN
Ackman Predicts Trump Landslide

Billionaire hedge fund manager Bill Ackman voiced strong hopes that a Trump victory would lead to a major shakeup in the Democratic Party. With some key states reporting results, including Trump’s win in North Carolina, Ackman predicted a “landslide” and called for a “reboot” of Democratic leadership.

In a lengthy post, Ackman criticized the party for what he described as undemocratic practices, including limiting other primary candidates' opportunities and allegedly misleading voters about President Biden’s health. Ackman argued that these actions represent threats to democracy, saying the Democratic Party “prevented, threatened, and litigated” to secure Kamala Harris as the nominee.

Ackman’s criticisms were further amplified by Tesla CEO Elon Musk, a Trump supporter, who responded with, “Exactly.” Ackman concluded with a quote from Abraham Lincoln, warning against attempts to deceive the American public.
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AMERICA
Wealthy Americans Eye Overseas Escape

Experts predict a significant increase in wealthy Americans considering relocation overseas, no matter the 2024 election outcome. Billionaire Bill Ackman even suggested that a Trump victory could catalyze a “Democratic Party implosion,” sparking further disillusionment. Global residence provider Latitude Consultancy reports an uptick in demand for citizenship-by-investment programs, with managing partner Christopher Willis noting that many wealthy individuals seek "insurance" in the form of second citizenships amid U.S. political division.

Immigration advisor David Lesperance attributes this trend to increased political polarization since 2016, adding that while financial motives once drove relocations, four out of five clients now cite non-tax reasons related to family well-being.

Should Trump win, experts expect his polarizing impact to fuel more interest in second residencies, especially from those wary of a "MAGA America." Meanwhile, a potential Harris presidency could see the affluent reacting to proposed tax policies, fearing further economic instability and division.
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Psephology

Psephology is the scientific study of elections.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.