Tech Billionaires' Financial Losses During Trump's Initial 100 Days, Breakdown from Musk to Bezos
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Hey there! Let's take a gander at some tech tycoons who 'la-di-da'ed their way to Trump's inauguration back in January, or forked over some coin to his campaign.
Jump forward 100 days, and ya can't help but notice these cat-that-got-the-cream boys are looking a wee bit leaner. Four of the wealthiest billionaires, Elon Musk, Jeff Bezos, Mark Zuckerberg, and Jensen Huang, have lost a colossal $194 billion collectively since Trump took office, according to the "Bloomberg Billionaires Index."
Let's break that down:
Elon Musk lost a whopping $114 billion, making him the chap with the greatest dip in the wealth department. Despite this, he remains the richest man according to the Bloomberg Billionaires Index. Musk's collaboration with Trump's Doge office turned out to be a recipe for disaster for Tesla, which has had a near 25% plunge in stock this year.
Jeff Bezos isn't doing much better. With a wealth primarily tied to Amazon stocks, he’s seen a drop of $36 billion since February. Theprecipitous fall in Jeff's fortune can be attributed to Trump's trade conflict and the impact on Amazon, with some analysts suggesting that the company is particularly vulnerable to this conflict given the vast array of products sold on the website that hail from China.
Mark Zuckerberg may have had the worst relationship with Trump among tech billionaires. The Meta CEO, Jeff's counterpart at Facebook, lost $22 billion, and his company, Meta, is currently in the midst of an antitrust lawsuit from the government.
Jensen Huang, the man behind Nvidia, may have missed the inauguration, but Nvidia still donated $1 million to the inaugural fund. His wealth, mainly tied to Nvidia stocks, has taken a hit, dropping by $21.6 billion since January. The company's stock has fallen by over 21% this year, primarily due to tariffs imposed by Trump's administration.
Other leading tech companies that showed up for the inauguration, such as Apple and Google, have also experienced a decline in their companies' stock prices. While their losses aren't detailed in the Bloomberg Billionaires Index, it's safe to say their bank accounts haven't exactly been swelling.
Cheers to that for some financial realness, folks! Now go out there and make some smart investment decisions. If you're feeling starstruck by these tech billionaires, don't forget to check out their struggles (and successes) before jumping into anything!
What's the current status of tech billionaires' wealth, such as Elon Musk, Jeff Bezos, Mark Zuckerberg, and Jensen Huang, who attended or donated to Trump's inauguration? These tycoons, including Musk who lost a staggering $114 billion, have suffered significant financial losses according to the "Bloomberg Billionaires Index." The decline in their wealth can be attributed to factors like Trump's policies, trade conflicts, and antitrust lawsuits, as seen with Amazon, Tesla, Facebook, and Nvidia.
