The five richest men to attend Donald Trump's inauguration have applied their wealth more than £ 160 billion thanks to the unrest on the market from his trade war.
The Republican victor was sworn in on January 20 for a second term in the White House, where the stock market was high and confidence in the United States.
The floating mood was underlined by the presence of the world's most successful technological tycoons – Tesla's Elon Musk, Jeff Bezos of Amazon, co -founder of Google Sergey Brin and Meta Chief Mark Zuckerberg.
Also behind Mr. Trump in the Capitol Rotunda in Washington DC, Bernard Arnault, the French billionaire behind the LVMH rich that Louis Vuitton, Christian Dior and Tiffany includes.
The self -proclaimed masters of the universe undoubtedly hope that their association with the president would stimulate the company – and their wealth due to rising stock prices.
But while the stock markets gathered in the weeks after the election victory of Mr Trump in November and at the beginning of this year, the prospects are now very different with the fear of assembling recession and shared tumbling.
“The Trump Bump has disappeared,” explained Matt Britzman, senior equity analyst at Hargreaves Lansdown, while Gennadiy Goldberg, head of the American interest strategy at TD Securities, said that the mood has been switched “of exuberance to absolute Wanhoop.”
The S&P 500 – an important benchmark for stock market in the US – has fallen by 9 percent since last month's peak and since last month's inauguration.
Guests such as Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai and Elon Musk live the inauguration of Donald J. Trump in the US Capitol Rotunda on January 20, 2025 in Washington, dc.
The floating mood was underlined by the presence of the world's most successful technological tycoons -Tesla's Elon Musk, Jeff Bezos of Amazon, co -founder of Google Sergey Brin (photo) and Meta chef Mark Zuckerberg
On Monday evening, the technically focused Nasdaq index fell by 4 percent, the worst performance since 2022.
The slump means that those five billionaires are now £ 162 billion poorer than they were while they took a seat at the inauguration, according to the Bloomberg Billionaires Index.
Mr. Musk – a narrow ally of Mr. Trump who is called the 'first buddy' – is the most affected with losses of £ 115 billion while Tesla shares tumbling.
The electric car manufacturer has now lost more than half of its value since its peak less than three months ago mid -December.
In total, the companies have seen their market value by the five billionaires – Telsa, Amazon, Google owner Alphabet, Meta and LVMH – with more than £ 1 trillion since the inauguration.
The concern about the prospects delves when Mr. Trump hits the rates on Canada, Mexico and China and at the same time threaten the European Union and Great Britain.
It is feared that a worldwide trade war between the world's largest economies will hammer business profits, will increase prices, get living standards – and even the US in a recession.
Mr. Trump himself refused to exclude such a result in the US during the weekend – to activate the newest wave of unrest in financial markets.
Also behind Mr. Trump in the Capitol Rotunda in Washington DC, Bernard Arnault (photo), the French billionaire behind the LVMH -Rijk that includes Louis Vuitton, Christian Dior and Tiffany
Ipek Ozkarddeskaya, senior analyst at Swissquote Bank, warned that Marketes were being hit hard by fears that Trump and international policy would have a terrible economic and geopolitical fall -out in the US and outside the borders. “
She added: 'The recession betting rise by the day, the companies give cloudy prognoses due to rates, the largest trading partners of the US respond. Trump optimism is far away. '
Mr Musk remains the richest person in the world with a fortune of £ 233 billion despite the slump in his wealth.
Bezos is worth £ 167 billion, even after losing £ 22 billion under Mr. Trump, while Mr. Zuckerberg has seen his fortune fall by £ 4 billion to £ 164 billion.
Mr. Arnault's wealth has fallen by the same £ 4 billion to £ 142 billion.
They take the top four places on the Bloomberg Billionaires list, while Mr. Brin is number nine who has seen his fortune fall by £ 17 billion to £ 110 billion since the inauguration.
