Many investors began actively participating in the stock and cryptocurrency markets, expecting that Trump's policies would foster business activity. For example, shares of Tesla, owned by Elon Musk, surged by 98% in the first week after the elections, setting a historic record.
LVMH, owned by Bernard Arnault, grew by 7% in the lead-up to the inauguration, increasing the wealth of the French magnate by $12 billion. However, since then, shares of the electric vehicle manufacturer Tesla have lost all earlier gains due to consumer concerns in Europe related to Musk's far-right political support.
Many billionaires who supported Trump at the inauguration lost part of their fortunes. For instance, by the end of Trump's second term, five of them lost $209 billion, according to the Bloomberg Billionaires Index. With Trump's defeat in November, Amazon's chief Jeff Bezos has since surpassed the president.
However, following Trump's second term, market profits quickly skyrocketed. Shares of Alphabet saw a drop of more than 7% due to pessimistic forecasts on quarterly earnings. All this indicates that the start of Trump's new term will not continue to support the market.
The wealthiest people in the world, including Elon Musk, Jeff Bezos, and Mark Zuckerberg, were not in the best position following the seven-day Trump administration. According to Bloomberg estimates, shares of companies that continued to maintain the 'S&P 500 index' at historical highs fell by 20%.
Bernard Arnault lost $5 billion, while for Mark Zuckerberg's Meta, it rose by 9% at the beginning of the new term and even by 20% in the first four weeks of the administration. However, all these preliminary gains quickly evaporated. Overall, it is believed that the financial situation of many billionaires after the start of Trump's second term has become less stable than expected.
