Tech Billionaires' Finances Under Trump: A Look at Musk and Bezos's Losses in Initial 100 Days
Unfiltered Take:
Trump's 2025 inauguration saw a hefty turnout from tech billionaires, leaving their wallets and company stocks feeling more empty than festive today. The tune's changed quite a bit in these hundred days, with these digital titans diving headfirst into the rough seas of market volatility.
For example, that Elon Musk fella, who swooned along with Trump more than others, has taken the hardest hit. Musk's net worth has plummeted an eye-watering $114 billion since January, but he still manages to hold on to the crown as the richest man on the planet. The Tesla train seems to have derailed a bit this year, with its stock price plummeting nearly 25%. Musk announced stepping back from the Trump-Doge alliance in May, focusing on no more than a few days per week on government affairs. He defends his White House collaboration as a mission to reduce bureaucracy and fraud.
Then there's Jeff Bezos, who's seen his wealth significantly decrease since February, largely due to Amazon's potential vulnerability to Trump's aggressive trade policies. Amazon stocks have seen a 14% decrease since the inauguration, and the looming 145% tariff on goods originating from China could have a massive impact on the site, given the abundance of Chinese products sold there. Amazon sellers have already started hiking prices for certain items, although the company claims it only affects a small portion of goods.
Mark Zuckerberg likely had the worst beef with Trump before the election, with the President repeatedly insulting the Meta CEO on Truth Social and even hinting at investigations or imprisonment following Facebook's suspension of Trump's account in the aftermath of the January 6th Capitol insurrection. Meta's facing an antitrust lawsuit from the government, which persists even with Trump out of office. Zuckerberg recently testified for over ten hours before the FTC, where he was grilled by the lead attorney.
Jensen Huang might've skipped the inauguration, but Nvidia chipped in with a $1 million donation to Trump's inaugural fund. Huang's wealth, primarily tied to Nvidia stocks, has also taken a hit since the inauguration. The company's faced several setbacks this year, including Trump's tariffs and a significant portion of its chips being imported from Taiwan. Nvidia recently announced a projected $5.5 billion loss in revenue in the first quarter of 2025 due to restrictions on its chip exports to China.
It's worth mentioning that some of the other leading tech companies attending the inauguration also saw their stocks plunge, including Apple's Tim Cook and Google's Sundar Pichai. Despite their immense wealth, their net worth changes following the inauguration remain off-limits, due to obscure Wall Street rules.
The dramatic downturn appears to be a result of market volatility stemming from policy uncertainty and broader sector-wide corrections, amid Trump's turbulent trade policies. Some estimate the combined market capitalization of companies tied to Trump-aligned billionaires lost an unimpressive $1.39 trillion, with the tech-heavy Magnificent Seven index tumbling 20% from its peak. Looking more closely, Tesla lost all its post-election gains, contributing to a staggering $148 billion drop in Musk's net worth, while Amazon shares slumped 14% since the inauguration, erasing $29 billion from Bezos' wealth. Meta's early 2025 gains vanished, shaving $5 billion off Zuckerberg's net worth.
Large-scale insider sales may also contribute to this downward spiral, as reduced confidence in near-term valuations fuels the fire. For instance, Palantir sold a whopping $4 billion in 2024, and similar activity lingered in 2025, reflecting a general mistrust in the market's direction.
- What was once a festive occasion for tech billionaires at Trump's 2025 inauguration, now has their wallets feeling less than celebratory, with many facing significant setbacks in their business ventures.
- Elon Musk, once a spectator of Trump's policies, has encountered contentious reactions, as his net worth decreased by $114 billion and Tesla's stock plummeted nearly 25%.
- Jeff Bezos, too, has faced financial consequences, as Amazon's stock dropped 14% since the inauguration, with potential tariffs on Chinese goods threatening further losses.
- Mark Zuckerberg, a high-profile critic of Trump before the election, continues to grapple with political challenges, as Meta faces an antitrust lawsuit and regulatory scrutiny.
- Even those who chose not to attend the inauguration, like Jensen Huang, have felt the ripple effects of the tech sector's instability, with Nvidia projected to lose $5.5 billion in revenue due to restrictions on chip exports to China.
