NEW YORK, March 11 — As Donald Trump took the oath of office on January 20, billionaires like Elon Musk, Jeff Bezos, and Mark Zuckerberg stood behind him, wealthier than ever.
However, just seven weeks later, five of these billionaires have collectively lost US$210 billion (RM929 billion) of their net worth, according to a Bloomberg report.
Market optimism surged after Trump’s re-election, with the S&P 500 hitting record highs and tech stocks soaring.
Musk’s Tesla nearly doubled in value, Meta gained 19 per cent in Trump’s first four weeks, and LVMH saw a US$12 billion boost.
Yet, expectations that Trump’s policies would sustain these gains have collapsed amid mass layoffs and tariff uncertainty.
Now, the S&P 500 has fallen nearly 7 per cent since Trump’s inauguration, dragging down some of the world’s biggest fortunes.
The Biggest Losers
Elon Musk (lost US$145 billion)
Tesla’s stock has erased all post-election gains, dragging down Musk’s net worth as investors react to declining sales in key markets — including an over 70 per cent drop in German sales and nearly 50 per cent fewer Chinese shipments — alongside political backlash over his outspoken support for far-right figures.
Jeff Bezos (lost US$31 billion)
Amazon shares have fallen 15 per cent since Trump’s inauguration, following Bezos’ efforts to align with the new administration by advocating for personal liberties and free markets in The Washington Post’s opinion section.
Sergey Brin (lost US$23 billion)
Alphabet (formerly Google) co-founder Brin saw his fortune shrink by US$23 billion after the company’s stock tumbled, following missed earnings estimates and renewed scrutiny from the Justice Department.
Mark Zuckerberg (lost US$8 billion)
Meta, part of the elite “Magnificent Seven” tech stocks, initially surged in early 2024 but has since erased all its gains, dragging down Zuckerberg’s net worth.
Bernard Arnault (lost US$5 billion)
Arnault, the chairman and CEO of LVMH, the world’s largest luxury goods conglomerate, has seen his fortune decline as concerns over US tariffs on European luxury products weigh on investor confidence.
