Musk, Bezos, Zukerberg Lose $300bn in Trump’s First 100 Days

A recent Forbes report reveals that tech giants and America’s wealthiest individuals have collectively lost more than $300 billion in the first 100 days of President Donald J. Trump’s second term.

Elon Musk’s fortune has taken the biggest hit, shrinking by over $45 billion – the largest individual decline among US billionaires.

The losses are largely attributed to a trade war fueled by Trump’s renewed focus on tariffs, which has led to a downturn in the US stock market.

The S&P 500 and Dow Jones Industrial Average are both down nearly 8% each, marking the worst start to a presidential term in 50 years.

Tesla, owned by Musk, has fallen 33% amid investor concerns about supply chain disruptions and Musk’s increasingly contentious political alignments.

Other notable billionaires who have seen significant losses include Amazon’s Jeff Bezos, down $34.8 billion, Google co-founders Sergey Brin and Larry Page, down $25.6 billion and $27.4 billion respectively, and Meta’s Mark Zuckerberg, down $21.5 billion.

The entrepreneur, who had once championed Trump’s initiative to streamline government operations, has since distanced himself from the administration, trading public barbs with senior trade adviser Peter Navarro on social media.

Oracle co-founder Larry Ellison, a vocal Trump supporter, has seen his wealth tumble by $28.2 billion, while Stephen Schwarzman of Blackstone is now nearly $11 billion poorer.

However, not everyone has been affected negatively. Warren Buffett’s fortune has grown by $19.6 billion, thanks to his company’s shares rising 13%. Peter Thiel and Palantir CEO Alexander Karp have also gained, buoyed by lucrative federal contracts.

The Walton heirs, Rob, Jim, and Alice, have each added over $3 billion as Walmart profits from inflation-driven consumer demand.

Interestingly, President Trump’s net worth has dropped by $1.5 billion, largely due to a 35% plunge in the stock price of Trump Media & Technology Group, the parent company of Truth Social.