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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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.