As Donald Trump took oath of office on January 20, he was enraged by some rich people in the world. The billionaires present on that day – including Elon Musk, Jeff Bezos and Mark Zuckerberg – were never rich, flush with great advantage from the fratthi stock markets.
Seven weeks later, this is a different story. The beginning of Trump’s second term has given a stunning upright for many of the billionaires sitting behind Trump in Capital Rotunda, with five, according to the Bloomberg Billionaires Index, jointly lost $ 209 billion.
The period between Trump’s choice and his opening was a boon for the world’s wealthiest, with the S&P 500 index kill several all-time high. Investors piled into equity and crypto markets, hoping that Trump’s policies would be beneficial for business.
Musk’s Tesla Inc. increased by 98% in the weeks after the election, a record high. Arnault’s LVMH added 7% a week before the opening day, causing the French magnet $ 12 billion rich. Even Zuckerberg’s meta platforms Inc., who banned Trump from the social-media platform in 2021, got 9% before the onset of the new term and an additional 20% in its first four weeks in the office.
But there is no hope that Trump’s new term will continue for fuel market returns. The S&P 500 has lost 6.4%, as they have taken over, as the equities have cried to equities with a 2.7% benchmark index tambling on Monday on the large scale of government employees and on tariffs.
The companies behind the fate of the people present at the opening have been some of the largest loser, which have been dropping a joint $ 1.39 trillion in market price since the inauguration, on the previous trading day, since January 17. Here is a look at some of those fate:
Elon Musk ($ 148 billion below)
The net worth of 53 -year -old Tesla’s Chief Executive Officer reached $ 486 billion on December 17, which was the biggest luck recorded on Bloomberg’s wealth index. Most of his benefits came from Tesla, whose stock almost doubled after the election. Since then, the electric car manufacturer has abandoned all those benefits. Consumers in Europe have fallen sour over Musk’s support for far-flung politicians, with a decline of Tesla in Germany in the first two months of Europe. The Chinese shipment fell to 49% last month at the levels not seen since July 2022.
Jeff Bezos (Below $ 29 billion)
The 61-year-old Bezos, who collided with Trump on the postal service and his ownership of the Washington Post during the President’s first term, congratulated Trump a day after the election on Musk’s X Social-Media platform. Amazon donated $ 1 million to Trump’s inauguration fund in December, and Bezos dined with the President last month, on the same day when Bezos announced that his newspapers would prefer personal freedom and free markets in their opinion section. Amazon’s shares have fallen 14% from 17 January.
Sergei Brin ($ 22 billion below)
The 51-year-old Brin, who co-established the company, is then known as Google with Larry Page and still retained a 6% stake, joining a protest against Trump administration’s immigration policy at San Francisco Airport in 2017. Trump was re-elected in November, Brin worked with him in March-e-Lago next month. In early February, the Alphabet Inc. shares covered a distance of more than 7% in early February after missing the quarterly revenue estimates. The representatives of the alphabet, who are currently facing pressure from the Department of Justice to break their search engine company, met the government last week and asked it to take a less aggressive stance.
Mark Zuckerberg ($ 5 billion below)
Meta was a standout winner among brilliant seven technical shares earlier this year. Even as groups of companies, who have operated the benefit of S&P 500 in the last few years, were flatlineing, the meta rose by 19% from mid -January to mid -February. Since then, however, stock has lost all those benefits. Since mid -December, the magnificent seven index is 20% below.
Bernard Arnault (Below $ 5 Billion)
The 76-year-old Arnault, whose family owns the luxury group behind the brands, including Louis Wuiton and Bulgari, has been a friend of Trump for decades, speaking with the then-judge, a day after Pennsylvania’s assassination in July. Most of the decline through 2024, LVMH jumped more than 20% from the election by the end of January. This is left to most of those benefits. Morningstar analysts said last month said that 10% to 20% tariffs on European luxury goods could suppress sales, which are already struggling.
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