this post was submitted on 11 Mar 2025
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Summary

Since Trump’s second-term inauguration, five top billionaires have lost a combined $209 billion as markets react to policy uncertainty.

  • Elon Musk’s net worth plunged $148 billion as Tesla shares collapsed amid declining European and Chinese sales.

  • Jeff Bezos lost $29 billion as Amazon stock fell 14%.

  • Sergey Brin’s fortune dropped $22 billion following Alphabet’s weak earnings and regulatory pressure.

  • Mark Zuckerberg and Bernard Arnault each lost $5 billion as Meta and LVMH stocks tumbled.

The S&P 500 is down 6.4%, reversing gains seen post-election.

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[–] kameecoding@lemmy.world 10 points 11 months ago (3 children)

I would say most of it is meaningless other than Elon and specifically Tesla, Tesla stock prices plumetting will remove most of the power from Elon in the future, even Trump might turn on him once his main thing his net worth evaporates

[–] ivanafterall@lemmy.world 8 points 11 months ago

Yes, the all-but-inevitable Trump decision to throw Musk under the bus is not something I've seen a lot of people discuss.

[–] JacksonLamb@lemmy.world 4 points 11 months ago

Musk is only a part of the problem, and Musk will have to lose another 110 billion before he even stops being the richest man in the world.

I'd love to see that happen but I'm not holding my breath. Meanwhile it does nothing but enrich powerful Disaster capitalists including Putin and his coterie.

[–] PresidentCamacho@lemm.ee 0 points 11 months ago* (last edited 11 months ago) (2 children)

Id be willing to bet that tesla is no bigger than 10% maximum of his worth. His big ones are space X that just chugs our tax money, and starlink, which I believe is being used as navigation in weapons systems being sold to nations. Tesla is effectively meaningless now.

[–] kautau@lemmy.world 14 points 11 months ago* (last edited 11 months ago) (4 children)

I doubt that

Edit: Tesla’s market cap is now 722 billion, still making it more valuable than any company on this graph. We need to go much lower

[–] Sylvartas@lemmy.dbzer0.com 13 points 11 months ago (1 children)

This really puts into perspective how massively overvalued tesla is

[–] captainlezbian@lemmy.world 6 points 11 months ago

Yeah that's what a bubble looks like all right

[–] Ledericas@lemm.ee 2 points 11 months ago

looks more like a cancerous tumor9tesla) crowding out healthy tissue.

[–] PresidentCamacho@lemm.ee 1 points 11 months ago (1 children)

That is absolutely wild... I cant believe how much of the industry they are! Well thats great then! I was worried the death of tesla would be unfelt by elon.

[–] captainlezbian@lemmy.world 3 points 11 months ago (1 children)

He's hit the level of wealth where he'll never be poor. But he can be removed from "buy governments" money until such time as he can be held accountable for his actions

[–] PresidentCamacho@lemm.ee 1 points 11 months ago* (last edited 11 months ago)

Politicians are whores, I really doubt you need more than a billion to own your own starting lineup.

[–] kameecoding@lemmy.world 1 points 11 months ago

I think you are wrong in the exact opposite direction, spaced just lost a 25 billion contract too