- Tech CEOs who rallied round Donald Trump throughout his January inauguration are feeling the ache of a few of his current insurance policies. Tech leaders, together with Elon Musk, Mark Zuckerberg and Jeff Bezos have seen their wealth plummet as tech firms’ inventory costs slide.
Billionaire backers of President Donald Trump are watching their fortunes tumble as tariffs take a toll on Huge Tech.
The president’s sweeping international tariffs introduced final week on April 2 ‘Liberation Day’ have despatched shockwaves via the inventory market and wiped billions off the private fortunes of a few of America’s richest males.
Outstanding Trump cheerleader Elon Musk has suffered the most important wealth drop over the president’s first few months in workplace.
The Tesla CEO’s wealth peaked in mid-December at $486 billion within the wake of Trump’s election; nevertheless, by the president’s self-professed “Liberation Day”, Musk had already seen his wealth plummet by $163 billion.
The tariffs introduced much more ache to Tesla and its embattled CEO, with Musk’s private fortune dropping to $290 billion on April 8, the bottom it has reached in 2025, based on Bloomberg’s billionaires index.
The second-richest man, Jeff Bezos, has additionally seen his wealth tumble.
The Amazon founder’s wealth hit a peak of $260 billion in February however had fallen to $213 billion by April 2, per Bloomberg’s Billionaires Index.
Within the wake of the tariffs, his wealth fell by an extra $21 billion to a complete of $192 billion. Thus far, Amazon’s inventory worth has slid round 30% from its peak in early February.
Meta CEO and founder Mark Zuckerberg has equally been within the pink this week.
The tech boss noticed his private wealth peak in mid-February at $259 billion; by April 8, this determine had fallen by greater than 1 / 4 to $181 billion, based on Bloomberg’s Index.
A lot of Zuckerberg’s wealth is tied to Meta inventory, which has additionally declined 30% from its February peak.
Musk, Zuckerberg, and Bezos have now collectively misplaced $80 billion of their wealth since April 2, per Bloomberg’s Billionaires Index.
How a lot did Huge Tech contribute to Trump?
All three have contributed important funds to Trump.
In keeping with a Washington Submit evaluation of Federal Election Fee filings, Musk’s whole contribution to Trump’s 2024 election marketing campaign totaled $288 million, making him the nation’s largest political donor.
Zuckerberg and Bezos every donated $1 million to Trump’s inauguration fund via Meta and Amazon, respectively.
Apple CEO Tim Cook dinner additionally made a $1 million donation to the U.S. president’s inauguration that has but to repay.
Apple is probably the most susceptible of the most important tech firms to Trump’s tariffs as the majority of the corporate’s manufacturing is carried out outdoors the U.S.
Regardless of Apple’s years-long effort to diversify its provide chain away from China, the corporate was hit exhausting by the steep tariffs on Vietnam, which has turn out to be a key manufacturing hub for the tech large.
Apple’s share worth has additionally slipped round 30% since late February.
CEOs at Google and Microsoft matched their fellow tech large’s $1 million donations to Trump’s inauguration fund.
Google CEO Sundar Pichai was additionally entrance and middle on the occasion alongside Bezos, Zuckerberg, and Musk.
Nevertheless, this has performed little to guard Google from the president’s controversial insurance policies, with shares of Google’s mum or dad firm Alphabet down simply shy of 30% from the corporate’s early February peak.
Microsoft’s inventory worth has slid by round 7% within the week since tariffs had been introduced.
Representatives for Google, Apple, Microsoft, Meta, Amazon, and Tesla didn’t instantly reply to a request for remark from Fortune.
This story was initially featured on Fortune.com
