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Billionaires Lose $209 Billion as Trump’s Term Begins

3/14/2025

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Summary

Story summary

Since Donald Trump's second term kicked off on January 20, 2025, the fortunes of five billionaires, including Elon Musk and Jeff Bezos, have plummeted by a staggering $209 billion. The S&P 500 has taken a hit, dropping 6.4% amid government layoffs and tariff fears, with Musk alone losing $148 billion as tech giants Amazon and Alphabet also suffered major stock declines.

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Story summary

Since Donald Trump's second term kicked off on January 20, 2025, the fortunes of five billionaires, including Elon Musk and Jeff Bezos, have plummeted by a staggering $209 billion. The S&P 500 has taken a hit, dropping 6.4% amid government layoffs and tariff fears, with Musk alone losing $148 billion as tech giants Amazon and Alphabet also suffered major stock declines.