Billionaires at Trump’s swearing-in have since lost $209 billion
Billionaires at Trump’s swearing-in have since lost $209 billion
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.
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Elon Musk’s net worth plunged $148 billion as Tesla shares collapsed amid declining European and Chinese sales.
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Jeff Bezos lost $29 billion as Amazon stock fell 14%.
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Sergey Brin’s fortune dropped $22 billion following Alphabet’s weak earnings and regulatory pressure.
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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.
Daily Reminder:
THERE'S THREE AND A HALF YEARS TO GO. THEY'RE PLAYING THE LONG GAME.
THEY AREN'T UPSET. THEY'RE GETTING EVERYTHING THEY WANT.
Whisper it in my ear
^^they ^^lost ^^$209 ^^billion
🥵 That's hot. Not nearly enough, but still great news
Rookie numbers. Needs more.
and the American retirees who depend on their savings lost trillions to these idiots. A majority of those retirees voted conservative, but I feel bad for the ones who didnt.
As you get closer to retirement, the usual strategy is to shift from a stock-heavy portfolio to something less volatile. The retirees getting burned are the ones who were too ignorant or greedy to do that.
That's not enough
It's a relatively small price to pay for the power they gained, and most of the losses are elons anyway
We need to keep pumping those numbers up
Oh ok, that’s sad, let me shed a few tears here before I go back to be exploited by the rich 😹😹😹😹😹😹😹😹
Good let’s make it another 200 billion EACH and even then that won’t be enough as they’ll all still have hundreds of billions of dollars which is absolutely insane
Unfortunately our own pensions and such are also getting wiped out by the same forces. And with less access to insider information.
These are the same billionaires that donated millions to the inauguration. How's that RoI on bribery going techbros?
They deserve to lose so much more.
Coverage like this makes me feel sad.
Do people honestly not realise that billionaires always enrich themselves during recessions?
This is all going to plan for oligarchs. People celebrating it are naive unfortunately.
and they have bailouts just in case they cant actually make money.
I would say most of it is meaningless other than Elon and specifically Tesla, Tesla stock prices plumetting will remove most of the power from Elon in the future, even Trump might turn on him once his main thing his net worth evaporates
Yes, the all-but-inevitable Trump decision to throw Musk under the bus is not something I've seen a lot of people discuss.
Musk is only a part of the problem, and Musk will have to lose another 110 billion before he even stops being the richest man in the world.
I'd love to see that happen but I'm not holding my breath. Meanwhile it does nothing but enrich powerful Disaster capitalists including Putin and his coterie.
They like the stock market going down, since it'll eventually go back up and meanwhile they still have billions available to buy up a lot more stock on the cheap while it's down.
So that's what, about 5 minutes with of profits between them?
only meaningful if their stocks don't bounce back, but too soon to tell
I have a theory that this is all planned. Tank share market, buy lots of shares, in a few years they get all their wealth back and more.
Also only meaningful if they can't buy up actual, tangible assets in the coming recessions, effectively converting their dead capital into more assets. (+ getting more state money for being "too big to fail")
Very similar to what happened just before the "collapse" of the Soviet Union, which seems to be Trump's aspiration. It had turned into a free-for-all.
A good start. It takes much more to fix this problem, though.
Them losing billions is meaningless. Don't for this: if you had 1 billion dollars, and you lost 99% of it, you still have 10 million dollars, which is more than what most people will ever have.
Their entire industries need to be nationalized and ALL their assets seized.
Those are rookie numbers! We've got to pump that number!
Yes, the more they lose the more we win.
PERSONAL AUSTERITY!!!! SAVE YOUR MONEY AND LET THE RICH GO FUCK THEMSELVES!!!
We have to Trump those numbers.
Gotta start somewhere! Keep it going!
Numbers must go down! The Board requires it.
proof they're not geniuses
So what? It's not like their bank accounts got affected. Their shares are valued less which means they did not loose money but the lost money they could have had.
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.
The only time it matters for them is when an Italian plumber shows up to collect their debt.
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.
they still have billions stashed somewhere and could buy up things on the cheap/.
They basically use that "money" as collateral for low interest loans. So it impacts how much they can physically buy. It's a good thing.
Some of them (ahum you know which one) did lose actual value: the entire credibility of their biggest brands are down the drain for years to come... In that way the stockprices do really show that they are losing out. Some others really are losing (sort of) equal access to big important markets... The loss is real, even tho I agree with the sentiment of your post, the lowering stocks predict lowering income, lowering dividends which these people expect to rake in eternally to keep their billionaire lifestyle afloat, etc. They are slowly becoming less wealthy from the shennanigans. Not quick enough tho. A billionaire is a thing that just shouldn't be allowed to exist ever anywhere.
Looks like some dumbfucks made a bad investment in a rapist.
Tbf, not all of them invested in his campaign though.
Noice!
Comparing my net worth to that total net worth? I’d be upset, but not terribly so, if I lost $1000 too.
But since I would be getting it back later, and then some, it’s more like a small investment only . Definitely worth the small risk,
I know were in for a world of pain with the stocks tanking. But honestly don't mind that they lose even more. Lose everything. Burn with us.
They won't. You'll see. They will come out of this richer and more powerful than when they went in.
Well maybe they'll get eaten by the poor. Im okay with that alternative plan.
But to them this is winning, right? Anything to "own the libs" that they so hate. There's no such thing as failing, there's only failing forwards.
I'm sure they will be able to weather the storm. I bet they could find a way to get by on "only" a billion, let's say.
MOAR!
Not low enough. We can do better!
They don't care. Stock prices only matter when purchasing and when selling. The day to day up and down has no affect on their direct worth.
False - these billionaires use their stock as collateral for loans. It’s all part of a tax avoidance scheme. If the stock goes down significantly, the banks come knocking.
Both of the billionaires pictured also head their companies in some way or another. Investors can vote to throw them out. Not that they would, but even the vote of no confidence is not a good look.
Banks may come to them, but hardly knocking with demands. 'If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem.' And how they interact with banks, loans, etc. is far different in scale and method than the average consumer anyway.
I can’t help but feel like this was some sort of Monkey’s paw situation. “I wish there weren’t any billionaires”
Toadying capitulators all
go woke go broke, no wait....
turns out its the either side going woke going broke. right wingers are by thier own definition, the wokest people out there.
Go fash, lose cash.
Keep It going y’all
Keep it coming people! Stay the course!
Just Covid economy 2.0 shifting more of everyones money into less hands, this way it can be Bidens fault it dropped and then Trumps when it regains
The only solace to watching all my retirement and investments get cratered is the fact that the assholes that brought this all about are taking the bigger hit.
Damn that’s financially irresponsible. I’ve only lost a $20 since then
Damn Globalists at it again huh? LMAO 🤣
Crazy how you can tell from looking at Zuckcuck's face that he doesn't have a soul.
he is an android, his public appearances have always have him acting like a robot. he stays in his "alcove" while uploading META-data into his "brain" when hes not in public.
Hehehe