TURNING RED

Billionaires at Trump’s Inauguration Lose $209 Billion in Just a Few Weeks

Tanking share prices have hit the wealth of the moguls who sat behind the president as he was sworn in.

Things are not going great for five of the billionaire guests of President Donald Trump at his inauguration. Technology company honchos Elon Musk, Jeff Bezos, and Mark Zuckerberg, as well as Google co-founder Sergey Brin and luxury goods conglomerate boss Bernard Arnault have collectively lost $209 billion in wealth since then, according to the Bloomberg Billionaires Index. Share prices of the companies they run or own initially did well after the election, but things have taken a turn for the worse in the economy since his inauguration, as Trump followed through on his threats to impose tariffs on Canada and Mexico, imposed mass layoffs of government employees, and sided with Russia in its conflict with Ukraine. Musk’s overall wealth is down $148 billion after Tesla sales tanked, with Bezos down $29 billion and Brin losing $22 billion of his wealth in line with declines in Amazon and Alphabet’s shares, respectively. Meta CEO Zuckerberg’s wealth is down $5 billion, as is that of Arnault, CEO of Louis Vuitton and Dior owner LVMH, which has been affected by potential tariffs on European luxury goods.