Tech’s biggest names—Elon Musk, Jeff Bezos, and Mark Zuckerberg—are taking a financial hit as President Donald Trump’s latest tariffs send shockwaves through the market. Since the president’s self-proclaimed ‘Liberation Day’ on April 2, the three billionaires have collectively lost $80 billion, according to Bloomberg’s Billionaires Index.
Musk’s Fortune Plummets As Tesla Struggles
Among Trump’s most vocal supporters in the tech industry, Elon Musk has suffered the sharpest decline. The Tesla CEO’s net worth hit a peak of $486 billion in December 2024 but had already dropped by $163 billion by April 2. The tariffs exacerbated Tesla’s market troubles, sending Musk’s fortune tumbling further to $290 billion by April 8—his lowest valuation this year.
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Bezos And Zuckerberg Feel The Heat
Amazon’s Jeff Bezos has also watched his wealth slide. After reaching $260 billion in February, his net worth dropped to $213 billion by April 2. The tariffs then erased another $21 billion, bringing his total to $192 billion. Amazon’s stock has plummeted roughly 30% since early February.
Meanwhile, Meta CEO Mark Zuckerberg has seen his fortune shrink by over 25%. His wealth peaked at $259 billion in mid-February but fell to $181 billion by April 8, as Meta’s stock price followed a similar downward trajectory.
Apple, Google, And Microsoft Under Pressure
Apple, heavily reliant on global manufacturing, has been among the hardest hit. Despite years of supply chain diversification, new tariffs on Vietnam—now a key production hub—have dragged Apple’s stock down 30% since February.
Google and Microsoft are feeling the effects, too. Shares of Alphabet, Google’s parent company, have slumped nearly 30% from their February peak, while Microsoft’s stock has dipped 7% since the tariffs were announced.
Big Tech’s Financial Ties To Trump
Despite their financial losses, these tech titans have had significant financial ties to Trump. Musk emerged as the largest political donor in the U.S., contributing $288 million to Trump’s 2024 election campaign, per Federal Election Commission filings. Bezos and Zuckerberg, through Amazon and Meta, respectively, each contributed $1 million to Trump’s inauguration fund.
Other tech leaders also backed Trump’s inauguration, including Apple’s Tim Cook, Google’s Sundar Pichai, and Microsoft’s leadership, each donating $1 million. Pichai even shared the stage with Musk, Bezos, and Zuckerberg during the event.
Yet, their support has done little to shield their companies from Trump’s aggressive trade policies. With tech stocks sliding and market uncertainty rising, the question remains: Will Big Tech continue backing a president whose policies are costing them billions?
