The same tech CEOs who stood in the crowd and cheered as President Donald Trump was inaugurated in January have lost a combined $80 billion in net worths since he announced sweeping tariffs on nearly every one of the U.S.’s trading partners last week.
Between “Liberation Day” on April 2 and Wednesday, April 9, Meta CEO Mark Zuckerberg, Amazon co-founder Jeff Bezos and Tesla CEO Elon Musk have seen their net worth plunge, according to the the Bloomberg Billionaire Index.
Much of that can be attributed to the stock market negatively reacting to Trump’s tariffs, which economists have warned will make everyday products more expensive and slow growth in the United States.
All three CEOs have seen their net worths drop at least 19 percent since the tariffs were announced.
Tesla
Musk, an adviser to the president and unofficial head of the Department of Government Efficiency, has had the largest drop in net worth, with his personal fortune dropping to $290 billion on April 8, the lowest it had reached in 2025.
Tesla’s stock has gone down approximately 12 percent since the tariffs were announced on April 3.
The world’s richest man campaigned heavily for Trump, being one of the largest financial contributors to his presidential campaign. He’s since joined the administration and played a major role in suggesting cuts to the federal workforce and entire agencies.
But Trump’s tariffs, including those on imported vehicles and parts, have caused Musk’s net worth to decline.
Meta
Zuckerberg, who axed his company’s fact-checking team and diversity, equity and inclusion policies to seemingly align it with the president, has lost $26 billion.
Meta’s stock was down 6 percent over the last five days and 14 percent since March. Much of Zuckerberg’s wealth is tied to the company, which has also declined 30 percent from it’s February peak, according to Fortune.
Although much of the company’s revenue comes from ad sales on its social media platforms, companies that advertise with them may begin to scale back on ad spending if tariffs force them to raise prices on their products, according to the New York Times.
Amazon
Bezos, who has cozied up to the president and similarly got rid of Amazon’s diversity policies, has had $21 billion disappear from his net worth.
Amazon’s stock has seen a lot of volatility since “Liberation Day,” and its stock price has slide around 30 percent since its peak in early February.
Trump’s increasing tariffs on China, where Amazon gets much of its inventory, are creating some uncertainty for the company. Amazon canceled some inventory orders from China on Wednesday, Bloomberg reported, to reduce exposure to tariffs.
Bezos’s net worth is down nearly 20 percent since this time last year, according to Bloomberg.
All three CEOs were present at Trump’s inauguration in January. Amazon and Meta donated $1 million to Trump’s inaugural fund while Musk has utilized his vast wealth to help Republicans in other elections.
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