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

    • ShaggySnacksEnglish
      246·
      20 hours ago

      The Top 10 Richest Americans have a combined wealth total of $1,548 TRILLION.

      $209 billion is only 0.13% of the of Top 10.

      We need to get those numbers higher.

      • Saryn@lemmy.world
        4·
        4 hours ago

        You seem to have forgotten to multiply by 100 after you divided 209 by 1,548.

        209 is 13.5% of 1,548, not 0.13%.

        Edit: It is a bit disturbing how many people upvote things without making even the most basic sanity check.

      • BeardedGingerWonder@feddit.ukEnglish
        91·
        20 hours ago

        That doesn’t stack up, Musk is the richest, currently worth $324Bn - they can’t be worth more than $3.24Tn combined.

    • Cort@lemmy.world
      17·
      22 hours ago

      It’s a relatively small price to pay for the power they gained, and most of the losses are elons anyway