Tech Billionaires' Financial Decline Over Trump's First 100 Days: Musk to Bezos
Heythere! Let's talk about some tech billionaires and their net worth since Donald Trump's inauguration.
Here's a quick rundown:
- Elon Musk, the closest tech billionaire to Trump as an advisor, has seen the biggest decline in wealth. He lost approximately $114 billion, but remains the richest person in the world. Tesla, Musk's electric vehicle manufacturer, has faced a nearly 25% decline in its stock price this year.
- Jeff Bezos, whose wealth is primarily tied to Amazon stock, has significantly decreased since February. Analysts attribute this to Amazon being particularly vulnerable to Trump's trade conflict, especially due to the number of products sold on the website that come from China.
- Mark Zuckerberg, who reportedly had a strained relationship with Trump, saw his wealth decline by $22 billion. He's facing an antitrust lawsuit from the government, which has not disappeared under Trump. He recently testified for over ten hours regarding this case.
- Jensen Huang, who skipped the inauguration but donated $1 million, has also seen a decline in his wealth, primarily tied to Nvidia stocks. Nvidia's stock has fallen by over 21% this year, partly due to Trump's tariffs.
Other leading tech companies that participated in the inauguration also experienced a decline in their stock prices. Despite this, their net worth changes since the inauguration are not publicly available.
Between them, these four billionaires have collectively lost $193.6 billion since January 2021. The decline in tech stocks can be attributed to various factors, including U.S.-China tariffs, market uncertainty, and tech stock sell-offs.
What was the reaction of tech billionaires to Donald Trump's inauguration? Contentpass reports that Elon Musk, Jeff Bezos, Mark Zuckerberg, and Jensen Huang, who collectively donated millions to the inauguration, saw their wealth decline by nearly $193.6 billion since January 2021. The setbacks in their business ventures, such as Tesla, Amazon, Facebook, and Nvidia, have been attributed to U.S.-China tariffs, market uncertainty, and technology stock sell-offs. Furthermore, politics and general-news outlets have been questioning the future implications of these declines on the technology and finance sectors. What do you think about this development in the tech world?
