The day after Donald Trump took office, many of the world’s wealthiest investors saw a surge in their fortunes. However, not everyone was so lucky. Elon Musk, CEO of both SpaceX and Tesla, suffered the biggest drop, with his net worth plummeting $148 billion.
Musk had used nearly $300 million of his fortune to support Trump’s presidential campaign and other MAGA allies throughout 2024. This move appears to have taken a toll on his business, as Tesla sales in Germany fell by over 70% in the first two months of the year and Chinese shipments declined by 49% last month.
Amazon CEO Jeff Bezos came in second place, losing $29 billion, while Google co-founder Sergey Brin lost $22 billion. Meta CEO Mark Zuckerberg and LVMH CEO Bernard Arnault both saw their net worth drop by $5 billion.
Despite Musk’s significant losses, his fortune had peaked at a record-high $486 billion in December. However, with Tesla’s gains since the election now reversed, Musk’s net worth has taken a major hit.
Source: https://economictimes.indiatimes.com/news/international/global-trends/us-news-elon-musk-jeff-bezos-mark-zuckerberg-sergey-brin-bernard-arnault-five-of-the-worlds-richest-people-who-attended-trumps-inauguration-lost-209-billion-since-jan-20/articleshow/118936682.cms?from=mdr