Boosted by the best stock market performance between Election Day and Inauguration Day in more than five decades, President-elect Joe Biden is set to inherit the largest U.S. stock market on record when he takes office Wednesday. But before Biden is sworn in as the nation’s 46th president, here’s a look at the stock market’s record-breaking growth since he was last in the White House in 2017.
That’s the market value of all U.S. stocks the day before Biden takes office, according to the Wilshire 5000 Total Market Index. Now at an all-time high, the figure’s added more than $16 trillion since President Donald Trump’s inauguration in January 2017.
That’s how much Apple—the most valuable company in the world—is currently worth. Its market capitalization is up an astonishing 230% since Trump’s inauguration, when it was also the world’s most valuable company. “Not all shares are created equal,” notes Nigel Green, the CEO of $12 billion advisory DeVere Group, of the stock market’s growing concentration toward booming technology stocks. In fact, the five FAANG stocks—Facebook, Amazon, Apple, Netflix and Google-parent Alphabet—along with Microsoft represent roughly $7.5 trillion in market value—nearly 20% of the entire U.S. stock market.
That’s how much Amazon founder and CEO Jeff Bezos—the richest man on earth—is currently worth, according to Forbes. Fueled lately by the shopping fervor of millions of Americans forced to stay home during the pandemic, the e-commerce giant’s stock has surged by nearly 300% since Trump’s inauguration, catapulting Bezos’ fortune in tandem. He was worth about $73 billion four years ago, when Microsoft cofounder Bill Gates had the world’s biggest fortune, with some $86 billion. Tesla CEO Elon Musk is now right behind Bezos with a net worth of $182 billion—an eye-popping 13 times larger than early 2017.
That’s how many points the Dow Jones Industrial Average currently has, more than 50% higher than the just under 20,000 points it had when Trump took office. The storied index hit the 30,000-point threshold in late November, and it’s been hitting new highs ever since. It hit its current peak of about 31,223 points on Thursday. Amgen, Honeywell, Salesforce and Walgreens are among the firms added to the Dow during Trump’s term. General Electric, Pfizer, Exxon Mobil and Raytheon Technologies are a few names that got the boot.
That’s how much the tech-heavy Nasdaq has skyrocketed since last Inauguration Day, thanks largely to the explosive growth of aforementioned tech darlings like Apple, Microsoft and Amazon.
That’s how much the broader S&P 500 has surged in four years, besting even the Dow’s return over the same period. The index hit its latest all-time high on January 8. So what’s next for the stock market? “History teaches us that we can expect the markets to react favorably to the inauguration of a new president—and this time around it is likely to be no different,” notes Green, adding that Biden’s move to the White House “could drive markets into a bull run more sharply than previous inaugurations” due to the massive fiscal stimulus he’s promising and an end to the political uncertainty stemming from a fiercely contested election.