It’s been almost 100 days since President Donald Trump was sworn into office with some of the biggest names in tech near his side.
Several tech billionaires cozied up to Trump ahead of his second term in part by attending the inauguration and donating to the inaugural fund. The appearance of a joint front stood in contrast to years of Trump criticizing Big Tech and calling out some tech leaders directly.
A lot has changed since Inauguration Day. Tech leaders who supported Trump have seen both their net worths and the stock value of the companies they lead decline, as the administration’s tariff-fueled trade war has coincided with a disruption in financial markets worldwide.
Four of the richest tech billionaires who attended the inauguration or donated to it — Elon Musk, Jeff Bezos, Mark Zuckerberg, and Jensen Huang — have lost a collective $193.6 billion since January 20, according to the Bloomberg Billionaires Index.
Here’s how much each tech billionaire has lost, according to Bloomberg’s net worth estimates as of market close on Monday.
Elon Musk
Net worth on January 20: $449 billion
Net worth on April 28: $335 billion
Loss: $114 billion
Musk, the tech billionaire who’s gotten closer to Trump more than any other as an advisor, has seen the greatest decline in wealth, though he remains the world’s richest person.
Musk’s work with the White House DOGE office led to swift backlash and a wave of protests against Tesla. The electric-vehicle maker has been struggling, with its stock price down nearly 25% this year.
After Tesla reported lackluster quarterly earnings last week, Musk announced he would be stepping back from DOGE in May, spending just one or two days a week on government matters. He has consistently defended his work with the White House to eliminate waste and fraud in government.
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Jeff Bezos
Net worth on January 20: $245 billion
Net worth on April 28: $209 billion
Loss: $36 billion
Bezos’s wealth, most of which is tied to stock in Amazon, the company he founded, has declined sharply since February.
Analysts have said Amazon is especially at risk of being negatively impacted by Trump’s trade war, including the 145% tariff on China, due to the number of products sold on the site, either directly or through third-parties, that come from the country.
Some Amazon sellers have been raising prices on goods like appliances, snacks, and electronics, though the company has said it represents a small fraction of the total amount of goods sold on the site.
Mark Zuckerberg
Net worth on January 20: $217 billion
Net worth on April 28: $195 billion
Loss: $22 billion
Zuckerberg may have had the worst relationship with Trump compared to any other tech billionaire prior to the election. Trump had repeatedly lashed out against the Meta CEO on Truth Social and suggested he should be investigated or jailed after Facebook temporarily banned Trump’s account following the January 6 Capitol riot.
Meta, the primary source of Zuckerberg’s wealth, has been fighting an anti-trust lawsuit brought by the government that has not gone away under Trump. Zuckerberg earlier this month sat for three days of testimony after the antitrust trial opened.
The Meta CEO testified for more than 10 hours and was grilled by the FTC’s lead attorney.
Jensen Huang
Net worth on January 20: $117 billion
Net worth on April 28: $95.4 billion
Loss: $21.6 billion
While Huang did not attend the inauguration, Nvidia donated $1 million to the inaugural fund. Huang’s wealth, a majority of which is tied to Nvidia stock, has also dropped since January, when he attended the inauguration.
Nvidia stock has fallen over 21% year to date, with the company facing several setbacks that include Trump’s tariffs, as the company sources a majority of its chips from overseas, primarily Taiwan.
The company also said earlier this month it expected to take a $5.5 billion hit on its first-quarter earnings as a result of the Trump administration’s restrictions on its chip exports to China.
Tech leaders also saw stock declines for the companies they lead
Other tech leaders who attended the inauguration saw declines in the stock prices of the companies they lead, including Tim Cook of Apple and Sundar Pichai of Google.
Though some estimates suggest the CEOs are billionaires, they are not on Bloomberg’s list of the top 500 richest people, so the change in their estimated net worth since the inauguration was not publicly available.
But Apple’s share price has fallen nearly 14% this year, while the share price of Alphabet, the parent company of Google, has fallen nearly 15% year over year.
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