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

  • snooggumsEnglish
    51•8 days ago

    They lost pretend money that could be used for business loans that they don’t need because they have so much pretend money. The only time it matteds for these parasites is if it happens when they are acquiring another company worth billions of pretend monies.

    Even a stock market collapse is a benefit to these chucklefucks.

    • @henfredemars@infosec.pubEnglish
      17•8 days ago

      Everything‘s on discount for them now! Time to buy up some cheap stock and failing businesses.

      They win no matter what.

      • @Kyouki@lemmy.worldEnglish
        5•8 days ago

        Always stood by for, with (fake) money you can make more (fake) money.

        The issue is mostly getting towards that money first for us normies who aren’t born into RNG.

    • @Eatspancakes84@lemmy.world
      2•7 days ago

      Matters at least a bit. For instance, Musk has signalled his interest in buying OpenAI. He will find it far harder to get the money for it now that Tesla shares have nosedived.

      More generally with Tesla it is difficult to make a business case for the existence of the company right now, since Musk alienated his entire potential consumer base. I wouldn’t be surprised if the company gets sold into parts in the text two years or so.

      • @Ledericas@lemm.eeEnglish
        1•7 days ago

        sam ALTMAN doesnt seem interested in selling it to him, musk wants to lead in AI research for some reason, since he has nothing show for it. Thiel is the other competitor with"PALINTIR and anduril"