Eight tech titans have seen their collective net worth fall by an estimated $266 billion this year due to President Donald Trump’s policies. The decline is attributed to increased uncertainty and inflation fears, which have dampened the buzz around AI that lifted tech stocks earlier this year.
The list includes Elon Musk’s $132 billion loss, with 30% of his fortune erased in the past 10 weeks following Tesla’s stock slide. Other notable billionaires who have seen significant declines include Amazon’s Jeff Bezos ($20 billion), Oracle’s Larry Ellison ($20 billion), Dell Technologies’ Michael Dell ($20 billion), and Nvidia’s Jensen Huang ($20 billion).
The collective decline was exacerbated by the Nasdaq Composite’s worst day since 2022, with a 4% drop on Monday alone. The sell-off was sparked by Trump’s cautioning about a “period of transition” for the US economy.
However, not all tech billionaires have been affected equally. Microsoft’s Bill Gates and Meta’s Mark Zuckerberg remain up in the green, while Berkshire Hathaway’s Warren Buffett is up about $14 billion. LVMH’s Bernard Arnault and Inditex’s Amancio Ortega are also experiencing gains.
Source: https://www.businessinsider.com/tech-billionaires-wealth-stocks-musk-trump-bezos-crash-recession-economy-2025-3