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News@lemmy.worldEnglish · 1 day ago

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

www.bloomberg.com

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

www.bloomberg.com

MicroWave@lemmy.world to

News@lemmy.worldEnglish · 1 day ago

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

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MochiGoesMeow@lemmy.zip
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I know were in for a world of pain with the stocks tanking. But honestly don’t mind that they lose even more. Lose everything. Burn with us.
- JacksonLamb@lemmy.world
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  They won’t. You’ll see. They will come out of this richer and more powerful than when they went in.

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