Among the guests at Donald Trump’s inaugural ceremony, he highlighted the presence of Elon Musk (Tesla), Jeff Bezos (Amazon), Mark Zuckerberg (Meta), Sergey Brin (Google) and Bernard Arnault (Louis Vuitton). These are five magnates of the technological ones that despite … having criticized the president in the past – with the exception of Arnault -, as his victory was coming they were approaching his positions. It was January 17, Wall Street was in full ‘Rally’ Alcista and the market was confident of the solvency of technological and the beneficial effects of the deregulation that the new administration would bring.
However, that optimism has not lasted for two months. As the effect of the tariff threat, what many feared, inflation threatens to aggravate and the fear of a recession has increased. Correlatively, the value of the stock market titles of these five ‘Trump’ men has collapsed. According to the billionaire index that the Bloomberg agency elaborates, together, they have lost 203,000 million dollarseverything they had won from the day that inaugural photo was made.
That January 17, Musk was richer than he had ever been, with 449,000 million dollars thanks to the Tesla price record. Then the market was confident that tariff Falls in sales of around 50% in February. In the US, the competence of General Motors and Volkswagen.
More paradigmatic is the case of Mark Zuckerberg, which symbolizes the Silicon Valley executives trip to Trumpism. From a time to this part – coinciding with Trump’s return – his company has turned his policy a turn to eliminate diversity programs and his president has criticized the eagerness of the Biden administration to control its contents. He was also optimistic with the new president: “He only wants the United States to win,” he settled. It remains to be seen if the design is fulfilled and the current stock market debacle in the US is just an ‘impasse’ before stabilization. Jeff Bezos also said he hopes that the deregulation proposed by Trump was beneficial, but did not expect the effect of the tariff crisis.
In the case of Sergey Brin, his pilgrimage to Mar-A-Lago can be explained in part because at this time he negotiates with the new administration to loosen the pressure for Google to fall apart from his browser. The only one on this list that has always been Trump’s friend is the Galo Bernard Arnault, for whom the new president symbolizes everything he would like for France: Low taxes and aid to manufacture locally. All this while President Macron prepares a tax rise that, in Arnault’s words, “invites democation.”
#magnates #accompanied #Trump #lose #million #dollars #investiture
