A new Forbes report has revealed that the return of Donald J. Trump to the White House for a second term has rattled the financial world, wiping out over $300 billion from the fortunes of America’s wealthiest individuals in just the first 100 days of his presidency.
Tech magnates, led by Elon Musk and Jeff Bezos, have been hit hardest amid a steep market downturn and renewed economic uncertainty. Musk alone has seen his net worth plunge by more than $45 billion the largest individual loss during the period.
Worst Market Start in 50 Years
The S&P 500 and Dow Jones Industrial Average both fell nearly 8%, marking the worst start to a U.S. presidential term in half a century. Analysts attribute much of the slump to Trump’s aggressive tariff policies, which have reignited global trade tensions and spooked investors.
Among the hardest hit:
- Jeff Bezos: Down $34.8 billion
- Larry Page (Google): Down $27.4 billion
- Sergey Brin (Google): Down $25.6 billion
- Mark Zuckerberg: Down $21.5 billion
- Larry Ellison (Oracle): Down $28.2 billion
- Stephen Schwarzman (Blackstone): Down nearly $11 billion
Tesla’s stock has dropped 33%, weighed down by fears over supply chain instability and concerns about Musk’s increasingly polarizing political presence. Once a public supporter of Trump’s deregulatory agenda, Musk has recently clashed with members of the administration, including a very public feud with trade adviser Peter Navarro.
Not All Billionaires Lost
In contrast, Warren Buffett has emerged as a major winner. The Berkshire Hathaway chairman’s net worth jumped by $19.6 billion, thanks to the company’s conservative investment strategy and a staggering $334 billion in cash reserves. Berkshire shares are up 13% since January.
Others who bucked the trend include:
- Peter Thiel and Palantir CEO Alexander Karp, boosted by federal contracts tied to defense and surveillance.
- The Walton family heirs to the Walmart fortune each gained over $3 billion, with the retail giant thriving amid inflation-driven consumer behavior.
Even Trump himself wasn’t immune to the financial fallout. His personal wealth reportedly declined by $1.5 billion, largely due to a 35% plunge in the stock price of Trump Media & Technology Group, the parent company of Truth Social.
What’s Next?
As markets continue to navigate Trump’s combative trade stance and populist economic agenda, analysts warn of further volatility ahead. While some sectors and individuals are capitalizing on the disruption, the broader picture for tech and high-growth assets remains uncertain.
