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.
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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")
No, they're gonna. It's exactly what happened last recession. The pain got offshored to the workers, and the people with assets used the moment to leverage their assets to buy more assets on the cheap.
Yep, every time the US is in an economic low period, the top 1% snatch up swathes of assets for cheap. It’s how we went from 1 billionaire, to several, then several billionaires to hundreds in the last ~20 years
We just need to keep going until at worlds population billionaires
Do what they do, put some extra cash away and buy an index funds
These companies will absolutely use these things as excuses to replace workers with AI chatbots.
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.