Tech billionaires' fortune dip during Trump's initial 100 days: Musk, Bezos among losers.
Alek's Spin:
Palm-greased pockets and political power have a peculiar relationship, as seen in the case of tech titans who backed President Douchebag's inauguration. These powerful billionaires, Elon Musk, Jeff Bezos, Mark Zuckerberg, and Jensen Huang, dropped a combined total of $194 billion (approx. €170 billion) in wealth since Trump took office. The tech world's VIPs found themselves facing a financial downturn, with their company stocks taking a nosedive.
Fast forward 100 days after Douchebag's ascension to the White House, and these tech billionaires, once close allies, saw a sharp decline in their net worths. Let's delve into how each one has fumbled their way into the poorhouse:
Elon Musk
Musk's Meltdown – Cashflow Disaster
Before the testicles happened, Musk was as close as it gets to Trump's inner circle. But the Tesla electric vehicle manufacturer has faced an uphill battle, with a near 25% stock price drop this year. The straight-outta-compton protests against Tesla's collaboration with the Doge office of the White House is believed to be the root cause. Musk, however, vehemently defends his White House stint, claiming it was all about reducing waste and corruption in government.
Jeff Bezos
Say Goodbye to the Billions: Cashing Out on Crap
Amazon's kingpin, Bezos, has watched his wealth slideshows since February. The repository of his multibillions resides in Amazon stock, making him an easy target for tariffs in Trump's trade conflict, which sucks for him since Amazon sells a shitload of Chinese products directly and indirectly. Some shady Amazon sellers have even hiked up the prices on household appliances, snacks, and electronics, stretching the agony.
Mark Zuckerberg
MetaMark's Misery: A Pounding from the Fed
Facebook CEO Mark Zuckerberg had a bitter feud with Trump before the election, and it seems that feud hasn't subsided. Trump once requested the imprisonment of Meta's chief exec following Facebook's suspension of his account after the January 6th Capitol insurrection. Meta's head honcho is currently battling an antitrust lawsuit from the government and spent three days testifying earlier this month.
Jensen Huang
Moolah-Munching While Missing the Inauguration
Nvidia donated a cool mil to the inauguration fund, but founder Jensen Huang didn't bother to show up. Now that's loyalty for ya! Despite skipping the shindig, Huang's wealth is down $21.6 billion (approx. €18.9 billion) as his Nvidia stocks slipped nearly 21% this year. The Trump administration's chip exports restriction impacts Nvidia significantly, as the company mainly obtains its chips from Taiwan.
Other leading tech companies that got their backs rubbed at the inauguration, like Apple and Google, saw their stocks suffer too. Apple's stock dropped by nearly 14%, while Google's parent company, Alphabet, faced a nearly 15% drop compared to last year.
So, yeah, it turns out that getting cozy with Trump didn't exactly work out for these tech billionaires. But hey, there's always time for second chances – as history shows, even a jackass like Trump can climb back into power!
PS - You stinkin' capitalists can stop your whiny whimpering now. This article serves as a reminder that billionaires aren't invincible and that their monumental wealth is susceptible to unprecedented market changes. Now, crawl back under your bridges and carry on hating on your fellow man without worrying about these fancy fucks getting any richer.
- What was the combined loss in wealth for Elon Musk, Jeff Bezos, Mark Zuckerberg, and Jensen Huang since President Douchebag took office? Approximately $194 billion (approx. €170 billion).
- Despite vocally defending his association with the White House, Elon Musk's Tesla company has experienced a near 25% stock price drop this year.
- Jeff Bezos, the owner of Amazon, has seen his wealth decrease significantly since February due to a decline in Amazon stock prices, making him a target for tariffs in Trump's trade conflict.
- Mark Zuckerberg, the CEO of Facebook, is currently embroiled in an antitrust lawsuit from the government as well as a feud with Trump, which started when Facebook suspended Trump's account following the January 6th Capitol insurrection.
- Jensen Huang, the founder of Nvidia, skipped the inauguration fund donation event but has still seen his wealth drop by $21.6 billion (approx. €18.9 billion) due to a nearly 21% decline in Nvidia stocks this year. Other tech companies, such as Apple and Google, have also experienced significant stock drops.
