In a stunning reversal from the euphoria of Trump’s inauguration, some of the world’s wealthiest individuals have seen their fortunes take a dramatic hit. Just seven weeks into his second term, a group of prominent billionaires collectively lost approximately $209 billion, according to the Bloomberg Billionaires Index.
A Boon Turned Bust
At the time of his inauguration on January 20, President Donald Trump was surrounded by global heavyweights like Elon Musk, Jeff Bezos, and Mark Zuckerberg—all buoyed by surging stock markets and booming equity gains. The period between Trump’s election and his inauguration had seen the S&P 500 hitting record highs, as investors rushed into stocks and cryptocurrencies expecting favorable policies.
Elon Musk’s Tesla, for instance, surged by 98% post-election, and even Mark Zuckerberg’s Meta Platforms Inc. enjoyed significant gains before and shortly after the new term began. However, recent market dynamics have reversed these fortunes, leaving these titans grappling with steep losses.
The Market Downturn
Since President Trump’s second term began, the S&P 500 has dipped by 6.4%. A combination of mass government layoffs, tariff policy uncertainty, and other macroeconomic factors have rattled investor confidence. The benchmark index tumbled by 2.7% on a recent Monday, contributing to a staggering $1.39 trillion loss in market capitalization for the companies behind these billionaires’ wealth.
Individual Fortunes in Decline
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Elon Musk
Once peaking at a record $486 billion on December 17, Musk has seen his net worth fall by approximately $148 billion. Tesla’s share price, which nearly doubled after the election, has since plummeted, partly due to declining sales in key markets such as Europe and China. -
Jeff Bezos
Bezos, who clashed with Trump over various issues during the first term, has experienced a $29 billion decline in his net worth. Amazon’s shares have dropped by 14% since January 17. -
Sergey Brin
Co-founder of Google, Sergey Brin, has seen a reduction of $22 billion in his fortune. Alphabet’s shares tumbled over 7% in early February after missing revenue targets, adding to the pressure from regulatory and market challenges. -
Mark Zuckerberg
Despite an initial rise of 19% from mid-January to mid-February, Meta Platforms Inc. has lost those gains, costing Zuckerberg roughly $5 billion as the tech market overall has slumped. -
Bernard Arnault
The French magnate behind LVMH, with close ties to Trump, has also been affected, with his wealth falling by $5 billion. Analysts warn that proposed tariffs on European luxury goods could further depress sales.
The Changing Landscape
The dramatic shift in fortunes serves as a stark reminder that market dynamics can quickly reverse even the most impressive gains. With Trump’s policies now under scrutiny and his administration’s focus shifting amid economic and political uncertainties, the path forward for these billionaires remains uncertain.
The ongoing volatility highlights the inherent risks of relying on market exuberance and underscores the challenges faced by leaders of major companies in navigating the turbulent economic landscape of 2025.