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
    63•23 hours ago

    Coverage like this makes me feel sad.

    Do people honestly not realise that billionaires always enrich themselves during recessions?

    This is all going to plan for oligarchs. People celebrating it are naive unfortunately.

    • @kameecoding
      10•22 hours ago

      I would say most of it is meaningless other than Elon and specifically Tesla, Tesla stock prices plumetting will remove most of the power from Elon in the future, even Trump might turn on him once his main thing his net worth evaporates

      • ivanafterall ☑️English
        8•21 hours ago

        Yes, the all-but-inevitable Trump decision to throw Musk under the bus is not something I’ve seen a lot of people discuss.

      • @JacksonLamb
        4•22 hours 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.

      • @[email protected]
        0•20 hours ago

        Id be willing to bet that tesla is no bigger than 10% maximum of his worth. His big ones are space X that just chugs our tax money, and starlink, which I believe is being used as navigation in weapons systems being sold to nations. Tesla is effectively meaningless now.

        • @kautau
          14•20 hours ago

          I doubt that

          Edit: Tesla’s market cap is now 722 billion, still making it more valuable than any company on this graph. We need to go much lower

          • @captainlezbian
            6•17 hours ago

            Yeah that’s what a bubble looks like all right

          • @[email protected]
            1•19 hours ago

            That is absolutely wild… I cant believe how much of the industry they are! Well thats great then! I was worried the death of tesla would be unfelt by elon.

            • @captainlezbian
              3•17 hours ago

              He’s hit the level of wealth where he’ll never be poor. But he can be removed from “buy governments” money until such time as he can be held accountable for his actions

        • @kameecoding
          1•20 hours ago

          I think you are wrong in the exact opposite direction, spaced just lost a 25 billion contract too