Elon Musk, Jeff Bezos, different billionaires lose $300 billion in Trump’s first 100 days
Tech titans Elon Musk, Jeff Bezos, and America’s wealthiest people have collectively misplaced greater than $300 billion within the first 100 days of President Donald J. Trump’s second time period.
That is in response to a modern report by Forbes that said the U.S. inventory market posted its worst begin to a presidential time period in 50 years, with the S&P 500 and Dow Jones Industrial Common every down practically 8% amid a commerce struggle fueled by President Trump’s renewed give attention to tariffs and few have felt the ache extra acutely than Musk himself.
Since January 20, Musk’s fortune has shrunk by greater than $45 billion, the biggest particular person decline amongst U.S. billionaires.
Tesla, the centerpiece of Musk’s enterprise empire, has fallen 33% amid investor issues about provide chain disruptions and his more and more contentious political alignments. The entrepreneur, who had as soon as championed Trump’s initiative to streamline authorities operations, has since distanced himself from the administration, buying and selling public barbs with senior commerce adviser Peter Navarro on social media.
Musk is hardly alone. Among the many high ten hardest hit are Amazon’s Jeff Bezos (down $34.8 billion), Google co-founders Sergey Brin and Larry Web page (down $25.6 billion and $27.4 billion, respectively), and Meta’s Mark Zuckerberg (down $21.5 billion). Many of those tech leaders had been distinguished attendees at Trump’s inauguration in January; immediately, they’re among the largest {financial} casualties.
Oracle co-founder Larry Ellison, a vocal Trump supporter and participant in a proposed $500 billion AI infrastructure plan, has seen his wealth tumble by $28.2 billion. Stephen Schwarzman of Blackstone, who reversed his preliminary resolution to remain out of Trump’s 2024 marketing campaign, is now practically $11 billion poorer.
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Not all billionaires have faltered. Warren Buffett, the chairman of Berkshire Hathaway, has emerged as the largest winner of Trump’s early presidency.
By conserving a file $334 billion in money and money equivalents, Buffett’s holdings have weathered market turmoil, along with his firm’s shares up 13% and his private fortune swelling by $19.6 billion. Peter Thiel and Palantir CEO Alexander Karp have additionally gained, buoyed by profitable federal contracts. The Walton heirs, Rob, Jim, and Alice, have every added over $3 billion as Walmart earnings from inflation-driven client demand.
Even so, President Trump has not been spared. His personal internet value has dropped by $1.5 billion, largely on account of a 35% plunge within the inventory value of Trump Media & Know-how Group, the guardian firm of Fact Social.
As Trump completes his first 100 days in workplace, the tally is stark: a divided billionaire class, a unstable market, and a presidency already reshaping fortunes for higher and for worse.
