In a dramatic economic shift, tech moguls including Elon Musk, Jeff Bezos, and several other U.S. billionaires have collectively lost over $300 billion during President Donald Trump’s first 100 days back in office, according to a recent Forbes report.
Tesla’s CEO Elon Musk, now heading the Department of Government Efficiency (DOGE), reportedly saw his wealth shrink by over $45 billion—marking the largest individual financial decline. The drop is attributed to political controversies and Tesla’s 33% stock slide amid supply chain concerns.
Amazon founder Jeff Bezos also saw a staggering $34.8 billion wiped off his net worth, while Google’s Larry Page and Sergey Brin lost $27.4 billion and $25.6 billion respectively. Meta’s Mark Zuckerberg followed with a $21.5 billion loss, and Oracle’s Larry Ellison dropped $28.2 billion.
The tech sector’s massive losses are linked to stock market volatility—the S&P 500 and Dow Jones both falling nearly 8%—as Trump’s renewed trade war and tariff policies roiled investor confidence.
Despite the downturn, Warren Buffett emerged as an outlier, posting gains amid the market’s rocky start under the new administration.
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