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

    • @finitebanjo@lemmy.world
      6•3 months ago

      Not really. Comparative wealth of the entire USA is declining, the Billionaires are still on top. If Elon Musk loses 99% of his wealth he would still be a billionaire.

      What this really means is that people around the world outside of the USA no longer view it as a stable investment.

    • mimavox
      1•3 months ago

      Tbf, not all of them invested in his campaign though.