Elon Musk, Jeff Bezos Lose $300bn In Donald Trump’s First 100 Days In Office

Forbes has said that America’s wealthiest individuals, including Elon Musk and Jeff Bezos, collectively lost over $300 billion in the first 100 days of President Donald J. Trump’s second term. This is coming amid a broader stock market decline, marking the worst start to a presidential term in five decades.

According to the report, Elon Musk suffered the steepest personal loss, with his net worth plummeting by more than $45 billion, and the drop in his wealth coincides with a 33% fall in Tesla’s stock price, driven by investor concerns over ongoing supply chain issues and Musk’s increasingly polarizing political stances.

Once supportive of Trump’s deregulation agenda, Musk has recently clashed publicly with members of the administration, including senior trade adviser, Peter Navarro.

Jeff Bezos also saw his fortune decrease by $34.8 billion, and Google co-founders, Larry Page and Sergey Brin, down by $27.4 billion and $25.6 billion respectively.

WOW.

Elon Musk FRS is a business magnate, industrial designer and engineer. He is the founder, CEO, CTO and chief designer of SpaceX; early investor, CEO and product architect of Tesla, Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI.

He was elected a Fellow of the Royal Society (FRS) in 2018. Also that year, he was ranked 25th on the Forbes list of The World’s Most Powerful People, and was ranked joint-first on the Forbes list of the Most Innovative Leaders of 2019. A centi-billionaire, Musk became the richest person in the world in January 2021.

Elon Reeve Musk was born on June 28, 1971, in Pretoria, Transvaal, South Africa. His mother is Maye Musk (née Haldeman), a model and dietitian born in Saskatchewan, Canada, but raised in South Africa.

His father is Errol Musk, a South African electromechanical engineer, pilot, sailor, consultant, and property developer.