Tech Billionaires Lose Billions After Trump's Market Crash!

2025-04-04 12:00:17.9

Tech billionaires who donated millions to Donald Trump saw their fortunes plummet after a stock market crash triggered by his "Liberation Day" agenda. Meta, Amazon, Google, and Apple stocks all experienced significant drops, resulting in massive losses for Mark Zuckerberg ($17.9 billion), Jeff Bezos ($16 billion), and Elon Musk ($8.7 billion). The overall market decline wiped away $208 billion from the world's richest 500 people. While Treasury Secretary Scott Bessent attributed the decline to correcting overvalued tech stocks, the event highlights the risk of aligning with a volatile political figure. The article details the tech CEOs' pre-election optimism about Trump's deregulation and AI support, contrasting it with the current uncertainty. The Trump administration's mixed response to tech companies, including support for a large AI infrastructure investment and opposition to foreign regulation, is also discussed. The potential impact of a recession and the need for substantial energy investments to support AI development are presented as key concerns.