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.

Non-paywall link

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[–] kameecoding@lemmy.world 10 points 16 hours ago (11 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

[–] PresidentCamacho@lemm.ee 1 points 13 hours ago* (last edited 13 hours ago) (8 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 12 points 13 hours ago* (last edited 13 hours ago) (6 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

[–] PresidentCamacho@lemm.ee 1 points 13 hours 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 hours ago

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

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