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

    • buddascrayon@lemmy.world
      8·
      1 day ago

      Yes, the more they lose the more we win.

      PERSONAL AUSTERITY!!! SAVE YOUR MONEY AND LET THE RICH GO FUCK THEMSELVES!!!

      • piratekaiser@lemm.eeEnglish
        2·
        1 day ago

        You don’t win by them just losing some money. Redistribution is the name of the game. Even if Tesla hits 0/share, you aren’t getting any more wealth just by virtue of that happening.

        …Aside from basking in the downfall of a nazi of course, but those are priceless things.