America's billionaires woke up Wednesday to a political reckoning — and a Wall Street rally.
As Democrats celebrated a sweeping midterm victory, some of the country's wealthiest donors traded barbs over record election spending. Others warned the results could threaten the artificial intelligence boom.
Wall Street, however, cheered the outcome. The Dow Jones Industrial Average soared 1,569 points, or 3%, while the S&P 500 gained 1.6% and the Nasdaq Composite rose 1.4%, as investors welcomed political gridlock, reduced uncertainty and President Donald Trump's willingness to accept the results.
Virgin Group founder Richard Branson took aim at the billions spent influencing the election.
"I have felt embarrassed by the billions that tech entrepreneurs and hedge fund managers have spent," Branson wrote Wednesday on LinkedIn, calling for campaign finance reform. Branson did not give donations that met the threshold reporting in the 2026 election cycle.