Billionaires who attended Trump’s inauguration have lost $210 billion since that day

As of January 20, billionaires who attended Donald Trump’s inauguration, including Elon Musk, Jeff Bezos, and Mark Zuckerberg, have become wealthier due to the booming stock markets. However, seven weeks later, these billionaires lost $210 billion, and the S&P 500 index dropped nearly 7% since Trump took office. This was reported by UNN citing Bloomberg.

Details

It is noted that when Donald Trump took the oath on January 20, he was surrounded by some of the richest people in the world, including Elon Musk, Jeff Bezos, and Mark Zuckerberg. Their profits had increased even more by inauguration day due to the stock markets.

Seven weeks later, the story changed. The start of Trump’s second term brought shocking changes for many billionaires who sat behind Trump in the Capitol Rotunda: five of them lost a total of $210 billion, according to the billionaire index

According to Bloomberg, the period between Trump’s election and his inauguration was a boon for the world’s wealthiest people, as the S&P 500 index reached several historical highs. Investors flocked to the stock and cryptocurrency markets, expecting Trump’s policies to be beneficial for business.

Thus, Musk’s Tesla Inc. rose by 98% in the weeks following the election, reaching a record high. LVMH’s Arnault added 7% in the week leading up to inauguration day, making the French magnate $12 billion richer. Even Zuckerberg’s Meta Platforms Inc., which banned Trump from using the social network in 2021, rose by 9% before the start of his new term and another 20% in the first four weeks of his presidency.

But expectations were not met.

The companies of the inauguration guests found themselves among the biggest losers, dropping a total of $1.43 trillion in market value since January 17, the last trading day before the inauguration.

Elon Musk (minus $145 billion)

The net worth of the 53-year-old Tesla CEO peaked at $486 billion on December 17, marking the largest fortune ever recorded in the Bloomberg billionaire index. Most of his wealth was derived from Tesla, whose shares nearly doubled after the election. Since then, the electric vehicle manufacturer has given up all those gains, reducing Musk’s net worth by $157 billion. Consumers in Europe were disappointed by Musk’s support for far-right politicians, and Tesla sales in Germany fell by more than 70% in the first two months of the year.

Potential customers in Europe were disappointed by Musk’s support for right-wing politicians, and Tesla sales in Germany fell by more than 70% in the first two months of the year

Chinese shipments also fell by 49% last month to unprecedented levels since July 2022.

Jeff Bezos (minus $31 billion)

Amazon donated $1 million to Trump’s inauguration fund in December, and Bezos dined with the president last month, on the same day Bezos announced that his newspaper would prioritize personal freedoms and the free market in its opinion. Amazon’s shares have fallen by 15% since January 17.

Sergey Brin (minus $23 billion)

The 51-year-old Brin, who co-founded the company then known as Google with Larry Page and still holds 6% of the shares, joined a protest against the Trump administration’s immigration policy at San Francisco airport in 2017. After Trump’s re-election in November, Brin dined with him at Mar-a-Lago the following month. Alphabet Inc.’s shares fell by more than 7% in early February after the company missed quarterly revenue estimates.

Mark Zuckerberg (minus $8 billion)

Meta was a standout winner among the Magnificent Seven tech stocks at the beginning of this year. Even as the group of companies that accounted for most of the S&P 500’s gains in recent years remained flat, Meta rose by 19% from mid-January to mid-February. However, since then, the shares have lost all those gains. The Magnificent Seven index has fallen by 21% from its mid-December peak.

Bernard Arnault (minus $5 billion)

The 76-year-old Arnault, whose family owns the luxury conglomerate behind brands like Louis Vuitton and Bulgari, has been a friend of Trump for decades. After a decline for most of 2024, LVMH surged more than 20% from the election to the end of January. Since then, it has lost much of those gains. Morningstar analysts stated last month that a 10-20% tariff on European luxury goods could reduce sales, which are already struggling.

Reminder

American indices Dow Jones, S&P 500, and Nasdaq fell by 1.48-2.64% due to Trump’s new tariffs. 

Tesla shares have been falling weekly since Musk “moved” to Washington08.03.25, 08:14 • 61694 views