Supporting Trump comes at a price: the 4 billionaires who have plunged in the stock market and already lost more than $200B

Tech billionaires who largely stayed on the sidelines during the first Trump administration or openly clashed with then then 45th US president showed up to be in the front row of his inauguration as the 47th. Aligning themselves with the second Trump presidency paid of dividends in the weeks after the 2024 elections as they saw their net worth soar.

However, seven weeks later four of the world’s wealthiest people who were in attendance; Elon Musk, Jeff Bezos, Mark Zuckerberg, and Sergey Brin, have now experienced a combined loss of $204 billion in wealth, according to the Bloomberg Billionaires Index.

The turn of fate has come as stock markets have cratered in response to Trump’s trade war whiplash maneuvers, announcing tariffs only to reverse course again and again. The market uncertainties caused by the president’s brinkmanship, along with depressed business and consumer confidence in response, have economists worrying about the risk of a global economic downturn that has been termed a “Trumpcession.”

How much the world’s wealthiest people have each lost since Trump’s inaguration

The biggest single Trump backer in the 2024 election, Tesla CEO Musk, alone has lost $148 billion. His involvement in the second Trump administration leading up the Department of Government Efficiency, or DOGE, has drawn the ire of people around the world and caused sales to plunge as well as the electric vehicle’s stock value.

After nearly doubling in the wake of Trump’s victory in November, peaking at $480, the share price has returned to where it was with the company registering its worst trading day in five years, plunging 15% just on Monday.

Jeff Bezos has seen $29 billion wiped off his net worth as the share price of the company he founded, Amazon, has dropped 14% since 17 January. He has now fallen to number three on the Bloomberg index from second place.

Brin, a co-founder of Google, has also been one of the biggest losers of net worth, down $22 billion after the share value of Alphabet Inc, parent company of Google, has shed 7% since early February.

Among the Magnificent Seven tech equities, Zuckerberg’s Meta saw some of the biggest stock price gains. However, nearly all of those gains have been erased along with $5 billion of his net worth.

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