NewsEnglish • 1 day ago

Billionaires at Trump’s swearing-in have since lost $209 billion

www.bloomberg.com

cross-posted to:
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Billionaires at Trump’s swearing-in have since lost $209 billion

www.bloomberg.com

NewsEnglish • 1 day ago

cross-posted to:
[email protected]

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.

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17•1 day ago
Everything‘s on discount for them now! Time to buy up some cheap stock and failing businesses.

They win no matter what.
- @Kyouki
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  5•1 day ago
  Always stood by for, with (fake) money you can make more (fake) money.
  
  The issue is mostly getting towards that money first for us normies who aren’t born into RNG.

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