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

  • wildncrazyguy138@fedia.io
    13·
    1 day ago

    False - these billionaires use their stock as collateral for loans. It’s all part of a tax avoidance scheme. If the stock goes down significantly, the banks come knocking.

    Both of the billionaires pictured also head their companies in some way or another. Investors can vote to throw them out. Not that they would, but even the vote of no confidence is not a good look.

    • Rhaedas@fedia.io
      9·
      1 day ago

      Banks may come to them, but hardly knocking with demands. ‘If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.’ And how they interact with banks, loans, etc. is far different in scale and method than the average consumer anyway.