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By Springbewsng Media limited April 30,2025

Forbes: Elon Musk, U.S. Billionaires Lose Over $300 Billion in Trump’s First 100 Days

A new Forbes report reveals that American billionaires, including Tesla CEO Elon Musk and Amazon founder Jeff Bezos, collectively lost more than $300 billion during the first 100 days of Donald Trump’s return to the presidency.

Elon Musk faced the steepest decline, with his net worth dropping by an eye-watering $45 billion, the largest loss among America’s ultra-wealthy. The report attributes this financial downturn to stock market volatility, supply chain disruptions, and investor uncertainty over Trump’s protectionist trade policies.

Tesla shares have plummeted by 33%, weighed down by global logistics concerns and Musk’s increasingly controversial political behavior. Once a supporter of Trump’s government reform plans, Musk has since distanced himself from the administration, engaging in public disputes with officials like trade adviser Peter Navarro.

Other major billionaires affected include:

Jeff Bezos (Amazon) – down $34.8 billion

Larry Page (Google) – down $27.4 billion

Sergey Brin (Google) – down $25.6 billion

Mark Zuckerberg (Meta) – down $21.5 billion

Larry Ellison (Oracle) – down $28.2 billion

Stephen Schwarzman (Blackstone) – down $11 billion

In contrast, Berkshire Hathaway’s Warren Buffett saw his wealth grow by $19.6 billion, thanks to a strong market position and rising share value. He now holds a record $334 billion in cash and assets, making him one of the few winners amid the market shakeup.

Other gainers include Peter Thiel and Palantir CEO Alexander Karp, both benefiting from federal contracts, and the Walton family heirs (Rob, Jim, and Alice), who added over $3 billion each from rising Walmart profits.

Even former President Donald Trump suffered financially, with a $1.5 billion loss following a 35% drop in shares of Trump Media & Technology Group, the parent company of Truth Social.