When Donald Trump was sworn in as the United States President on January 20, he was surrounded by some of the world’s most educated people. The entrepreneurs in presence- including Elon Musk, Jeff Bezos and Mark Zuckerberg- were at their optimum money, benefiting from solid stock market performance.
But, after seven days, situations have shifted dramatically. The initiation of Trump’s subsequent name has resulted in significant economic losses for five businessmen who were present at the Capitol Rotunda, with their combined money declining by$ 209 billion, as reported by the Bloomberg Billionaires Index.
The period between Trump’s vote and opening proved successful for the world’s wealthiest people, with the S&, P 500 Index reaching several record highs. Traders were drawn to capital and blockchain markets, anticipating business-friendly guidelines under Trump.
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Musk’s Tesla Inc. experienced a 98 % improve post-election, achieving a record high. Arnault’s LVMH rose 7 % in the week preceding Inauguration Day, increasing the French businessman’s wealth by$ 12 billion. Zuckerberg’s Meta Platforms Inc., despite banning Trump in 2021, gained 9 % before the new term and an additional 20 % during his first four weeks in office.
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But, expectations of continued market progress under Trump’s fresh phrase have been disrupted. The S&, P 500 has decreased by 6.4 % since his inauguration, with government employee redundancies and uncertainty regarding tariffs affecting equities, leading to a 2.7 % decline on Monday.
Post-Inauguration money wipeout
The companies associated with the opening participants have experienced substantial loss, with their combined market price dropping by$ 1.39 trillion since January 17, the last trading day before the commencement. Here’s an investigation of these wealth:
Elon Musk ( down$ 148 billion )
Tesla CEO Elon Musk, 53, saw his shield fair approach a report$ 486 billion on Dec. 17, the highest ever recorded on Bloomberg’s money score. His success surge was mostly driven by Tesla’s share, which almost doubled post-election. But, Tesla has since lost all those increases, with Western consumers turning away due to Musk’s social connections. In Germany, Tesla sales plunged over 70 % in early 2024, while Chinese shipments fell 49 % last month—the lowest since July 2022.
Jeff Bezos ( down$ 29 billion )
Bezos, 61, who earlier clashed with Trump over the postal service and his rights of the Washington Post during the president’s first word, congratulated Trump the day after the vote on Musk’s X. Not only this, Amazon donated$ 1 million to Trump’s inauguration bank in December, and Bezos dined with the president next month, the same day that Bezos announced that his paper will promote individual rights and completely industry in its mind area. Amazon shares have fallen 14 % since Jan. 17.
Sergey Brin (down $22 billion)
Brin, aged 51, a co-founder of the original Google alongside Larry Page, maintains a 6 % ownership stake. He participated in demonstrations at San Francisco airport in 2017, opposing the Trump administration’s immigration measures. Following Trump’s re-election in November, Brin attended a dinner with him at Mar-a-Lago in the subsequent month. In early February, Alphabet Inc. experienced a significant share price decline of over 7 % after failing to meet quarterly revenue projections. Recently, Alphabet’s representatives, whilst facing pressure from the Justice Department regarding the potential break-up of its search engine operations, engaged in discussions with government officials, requesting a more moderate approach.
Mark Zuckerberg ( down$ 5 billion )
Meta emerged as the top performer among the Magnificent Seven technology companies in early 2024. Whilst these influential companies, which have driven substantial gains in the S&, P 500 index over recent years, showed stagnant performance, Meta achieved a 19 % increase between mid-January and mid-February. However, the company subsequently relinquished these advances. The Magnificent Seven index has experienced a 20 % decline from its peak in mid-December.
Bernard Arnault (down $5 billion)
Arnault, aged 76, whose family controls the luxury group that owns prestigious brands such as Louis Vuitton and Bulgari, has maintained a long-standing friendship with Trump spanning decades. He conversed with the then-candidate the day following the Pennsylvania assassination attempt in July. LVMH shares, after showing a downward trend through most of 2024, experienced a significant rise of over 20 % from the election period until late January. However, the company has subsequently lost the majority of these gains. According to Morningstar analysts ‘ statement last month, a potential tariff ranging from 10 % to 20 % on European luxury goods could adversely affect sales, which are already experiencing difficulties.
