After Donald Trump was re-elected in 2024, many billionaires increased their assets thanks to ties to the fresh US President. However, by Bloomberg's situation changed dramatically and 5 billionaires, including Elon Musk and Mark Zuckerberg, lost a full of $209 billion.
Musk loses the most
After the election, Tesla's stock rose by 98% in the first week, allowing Elon Musk to increase his assets to evidence $486 billion. However, Musk has now suffered the biggest losses – $188 billion, mainly due to decline in Tesla shares by 15%. This decline is linked to the controversial decisions of Musk, including open support for Trump and the German ultraconservative party.
Meta and Amazon besides lost billions
Mark Zuckerberg, despite previously blocking Trump's Facebook account, besides benefited from his return to politics – Meta's share value increased by 9% before the inauguration and another 20% in the first week of January. However, this increase was reduced to an earlier level and Zuckerberg lost $5 billion.
Jeff Bezos, who in the past publically criticized Trump, changed his approach this time and donated $1 million to his inauguration. He was besides among billionaires who met Trump. However, Amazon lost 14% of its marketplace value, which reduced Bezos' assets by $29 billion.
Sergey Brin and Bernard Arnault besides reported losses
Sergey Brin, a Google co-founder who protested against Trump in 2017, after his second triumph began warming relations and appeared at dinner in Mar-a-Lago. However, Google's mediocre financial performance in the last 4th resulted in a failure of $22 billion by Brin. In addition, the U.S. government continues to prosecute breakdown Google for 2 independent companies, which increases force on shareholders.
Bernard Arnault, LVMH's CEO, lost $5 billion after introducing tariffs on luxury products from Europe ranging from 10% to 20%. The fresh US trade policy hit brands specified as Louis Vuitton, Givenchy and Hennessy, which belong to his group.
Despite earlier increases, the situation shows that political links do not always warrant financial stability. Will Trump be able to calm the markets and reverse the trend?
