Trump’s Second Term Sees Billionaires Lose Over $200 Billion in Wealth

Trump’s Second Term Sees Billionaires Lose Over $200 Billion in Wealth

As Donald Trump commenced his second presidential term on January 20, 2025, he was surrounded by some of the world’s richest individuals, including Elon Musk, Jeff Bezos, Mark Zuckerberg, Bernard Arnault, and Sergey Brin. At that time, the collective wealth of these billionaires had reached unprecedented heights, buoyed significantly by bullish market trends that followed Trump’s re-election.

Seven weeks into Trump’s new term, however, this financial prosperity has witnessed a drastic reversal. According to data from the Bloomberg Billionaires Index, five of the billionaires who attended Trump’s swearing-in have collectively seen their net worth plunge by approximately $209 billion.

The Market Shift After Trump’s Inauguration

The lead-up to Trump’s inauguration had initially been lucrative for billionaire investors, as markets surged in anticipation of favorable business policies. Tesla’s stocks, for example, soared by 98% immediately following Trump’s election victory, pushing Elon Musk’s wealth to historic levels. Similarly, Bernard Arnault’s luxury conglomerate LVMH rose by 7% just days before inauguration, adding around $12 billion to his personal wealth. Mark Zuckerberg’s Meta Platforms also experienced a significant rise, increasing by nearly 30% between the election and the early weeks of Trump’s term.

Yet, post-inauguration optimism swiftly deteriorated. Market confidence eroded primarily due to policy uncertainty stemming from Trump’s fluctuating stance on tariffs and widespread layoffs in government institutions. The S&P 500 has shed approximately 6.4% of its value since January 20, further underscored by a dramatic one-day decline of 2.7% recorded earlier this week.

Individual Billionaire Fortunes Hit Hard

Elon Musk: $148 Billion Loss

Elon Musk, CEO of Tesla, experienced the most dramatic reversal in fortunes. Musk’s net worth reached a record $486 billion in mid-December, primarily driven by Tesla’s strong stock performance. However, geopolitical concerns and declining sales have severely impacted Tesla’s market value. European consumers’ dissatisfaction with Musk’s political endorsements led to a steep 70% drop in German sales, while Tesla shipments to China plummeted 49%—the lowest since July 2022.

Jeff Bezos: $29 Billion Loss

Amazon’s founder Jeff Bezos, despite previously clashing with Trump, initially sought positive engagement, contributing significantly to Trump’s inauguration. However, since Trump’s swearing-in, Amazon’s shares have dropped 14%. Bezos’ efforts to publicly endorse Trump’s business-friendly agenda have yet to stabilize Amazon’s declining market position.

Sergey Brin: $22 Billion Loss

Alphabet co-founder Sergey Brin, who initially opposed Trump’s immigration policies but later interacted amicably with him, saw Alphabet’s stock decline sharply. The company’s shares fell by over 7% in early February following disappointing quarterly earnings. Ongoing antitrust scrutiny from the U.S. Justice Department further compounded Alphabet’s market challenges.

Mark Zuckerberg: $5 Billion Loss

Mark Zuckerberg’s Meta Platforms experienced robust gains early in 2025, significantly outperforming other tech giants. However, recent market volatility has erased these gains entirely, pushing Meta’s stock back into negative territory alongside a 20% decline among major tech stocks collectively known as the Magnificent Seven.

Bernard Arnault: $5 Billion Loss

Bernard Arnault, CEO of luxury group LVMH, initially benefited from a post-election surge exceeding 20%. However, fears over potential tariffs imposed on European luxury products, combined with declining global luxury demand, erased much of these early gains.