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

  • buddascrayon@lemmy.world
    10·
    1 day ago

    Yes, the more they lose the more we win.

    PERSONAL AUSTERITY!!! SAVE YOUR MONEY AND LET THE RICH GO FUCK THEMSELVES!!!

    • piratekaiser@lemm.eeEnglish
      21·
      1 day 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·
        1 day 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.