Forbes: U.S. Billionaires Lose Over $300 Billion In First 100 Days Of Trump’s
THECONSCIENCE NG reports that America’s wealthiest individuals, including tech titans Elon Musk and Jeff Bezos, have collectively lost more than $300 billion in net worth during the first 100 days of President Donald J. Trump’s second term, according to a new report by Forbes.
The report highlights that the U.S. stock market experienced its worst start to a presidential term in 50 years, with both the S&P 500 and the Dow Jones Industrial Average declining nearly 8% amid heightened trade tensions and renewed tariff policies introduced by the Trump administration.
Elon Musk saw the steepest individual loss, with his fortune shrinking by over $45 billion. His electric vehicle company, Tesla, dropped 33% in value due to investor concerns over supply chain issues and Musk’s increasingly polarizing political positions. Once a vocal supporter of Trump’s deregulation agenda, Musk has since distanced himself, engaging in public clashes with senior White House adviser Peter Navarro on social media.
Other top tech billionaires also suffered significant losses:
Jeff Bezos (Amazon): down $34.8 billion
Larry Page (Google): down $27.4 billion
Sergey Brin (Google): down $25.6 billion
Mark Zuckerberg (Meta): down $21.5 billion
Larry Ellison, Oracle co-founder and prominent Trump backer, saw his net worth decline by $28.2 billion, despite his involvement in the administration’s proposed $500 billion AI infrastructure initiative. Stephen Schwarzman, CEO of Blackstone, also took a hit, losing nearly $11 billion, after reversing his earlier decision to remain politically neutral in 2024.
However, not all billionaires saw red. Warren Buffett, chairman of Berkshire Hathaway, emerged as the biggest financial winner of Trump’s second term so far, with his conservative investments weathering the market turmoil.
Others who gained include Peter Thiel and Palantir CEO Alexander Karp, both beneficiaries of major federal contracts. The Walton family—heirs to the Walmart fortune—also added over $3 billion each, as the retail giant capitalized on inflation-driven consumer behavior.
Even President Trump himself was affected, with his net worth dropping by $1.5 billion, largely due to a 35% decline in the share price of Trump Media & Technology Group, the parent company of his social media platform, Truth Social.
