Billionaires at Trump’s Swearing-In Have Since Lost $209 Billion
www.bloomberg.com
As Donald Trump took the oath of office on Jan. 20, he was flanked by some of the world’s wealthiest people. The billionaires present that day — including Elon Musk, Jeff Bezos and Mark Zuckerberg — had never been richer, flush with big gains from frothy stock markets.

Summary

Since Trump’s second-term inauguration, five top billionaires have lost a combined $209 billion as markets react to policy uncertainty.

  • Elon Musk’s net worth plunged $148 billion as Tesla shares collapsed amid declining European and Chinese sales.

  • Jeff Bezos lost $29 billion as Amazon stock fell 14%.

  • Sergey Brin’s fortune dropped $22 billion following Alphabet’s weak earnings and regulatory pressure.

  • Mark Zuckerberg and Bernard Arnault each lost $5 billion as Meta and LVMH stocks tumbled.

The S&P 500 is down 6.4%, reversing gains seen post-election.

Non-paywall link

  • JacksonLamb@lemmy.world
    4·
    1 day ago

    Musk is only a part of the problem, and Musk will have to lose another 110 billion before he even stops being the richest man in the world.

    I’d love to see that happen but I’m not holding my breath. Meanwhile it does nothing but enrich powerful Disaster capitalists including Putin and his coterie.