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

  • piratekaiser@lemm.eeEnglish
    21·
    2 days 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.

    • buddascrayon@lemmy.world
      1·
      2 days ago

      The win is the diminishment of his economical power. Same goes for Amazon and Meta. Transitioning off of any dependence of those websites and services will empower us and remove these shitheads’ influence.