Updated: 6:15 p.m. ET
(Bloomberg) – Warren Buffett is once again the second-richest person on the planet, and he has President-elect Donald Trump to thank.
Buffett added $6.2 billion to his fortune this week, leading gains for the world's wealthiest as he leapt over Spain's Amancio Ortega and Amazon.com Inc. founder Jeff Bezos to reclaim the No. 2 spot on the Bloomberg Billionaires Index.
|Less regulation speculated
Buffett, who supported Democrat Hillary Clinton in the election and ferried voters to the polls in his Nebraska hometown, benefited as shares in Wells Fargo & Co. soared 13 percent in the two days after the Nov. 8 election on speculation that a Republican administration would bring less regulation and sideline some of the industry's sharpest critics. His Berkshire Hathaway Inc. holds a 10 percent stake in the San Francisco-based lender.
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