Since Donald Trump was sworn in as the 47th president of the United States on January 20, 2025, the financial landscape for some of the country’s most prominent business leaders has undergone significant changes.
In the first seven weeks of his presidency, five of the most well-known billionaires have seen their net worth decline by a combined total of approximately $210 billion.
Elon Musk: $145 Billion Loss
Elon Musk, CEO of Tesla and SpaceX, experienced a significant drop in his fortune.
After peaking at $486 billion on December 17, 2024, his net worth has fallen by $145 billion. This decline is attributed to a drop in Tesla’s stock, which had surged 98% following the elections but later lost all those gains.
Additionally, Tesla’s sales in Europe fell by more than 70% in the first two months of the year, and shipments to China dropped 49% in February, reaching levels not seen since July 2022.
Jeff Bezos: $31 Billion Loss
Jeff Bezos, founder of Amazon, also suffered significant losses.
Despite donating $1 million to Trump’s inauguration fund and dining with him after the elections, Amazon shares have dropped 15% since January 17, resulting in a $31 billion decrease in Bezos’s net worth.
Sergey Brin: $23 Billion Loss
Sergey Brin, co-founder of Google, has seen his fortune shrink by $23 billion.
Shares of Alphabet Inc., Google’s parent company, dropped more than 7% in early February after failing to meet quarterly revenue estimates. Alphabet is also facing pressure from the Department of Justice to break up its search engine business.
Mark Zuckerberg: $8 Billion Loss
Mark Zuckerberg, CEO of Meta (formerly Facebook), saw an $8 billion decline in his net worth.
Although Meta was one of the ‘Magnificent Seven’ stocks that initially gained value, its stock later lost all those recent gains, contributing to Zuckerberg’s financial setback.
Bernard Arnault: $5 Billion Loss
French magnate Bernard Arnault, whose family owns the luxury conglomerate LVMH (which includes brands like Louis Vuitton and Bulgari), was also affected.
After LVMH shares initially surged 20% following the elections, most of those gains disappeared, leading to a $5 billion loss in Arnault’s fortune. Analysts at Morningstar noted that a proposed 10% to 20% tariff on European luxury goods could further depress sales, which were already struggling.
These losses highlight the volatility and uncertainty in financial markets since Trump took office, affecting even the most influential business leaders and their global empires.
