When Donald Trump was sworn in for his second time period as president, he was surrounded by his <\/span>billionaire benefactors<\/a>: Jeff Bezos, Elon Musk, and Mark Zuckerberg\u2014all of whom both contributed to Trump\u2019s <\/span>presidential campaign<\/a> or <\/span>showered him with cash<\/a> earlier than his inauguration.\u00a0<\/span><\/p>\n Now, seven weeks later, because the economic system has plummeted underneath Trump, that very same group of billionaires has misplaced a big quantity of wealth.\u00a0<\/span><\/p>\n In response to the <\/span>Bloomberg Billionaires Index<\/a>, the mixed web price of Bezos and Musk fell by a staggering $177 billion by March 10. Musk has confronted the most important decline, with the online price of Trump\u2019s \u201c<\/span>first buddy<\/a>\u201d dropping by $148 billion because the markets closed on January 17.\u00a0<\/span><\/p>\n And as the remainder of the economic system takes a success, Trump\u2019s <\/span>honeymoon period<\/a> appears to have come to a full cease.\u00a0<\/span><\/p>\n The S&P 500 Index has decreased by 6.4% since Trump took workplace. And extra just lately, the Dow Jones Industrial Common fell <\/span>more than 1,000 points<\/a> on Monday, with Trump\u2019s <\/span>reckless tariffs<\/a> and <\/span>sweeping federal layoffs<\/a> being key contributors.\u00a0<\/span><\/p>\n In response to Bloomberg, Musk\u2019s monetary struggles primarily stem from a downturn at Tesla, whose inventory <\/span>nearly doubled<\/a> after Trump\u2019s victory final November. Since then, its figures have <\/span>taken a nosedive<\/a>, particularly in European nations like Germany, which have witnessed gross sales drop by greater than 70% in simply two months.\u00a0<\/span><\/p>\n In the meantime, Tesla\u2019s gross sales in China dramatically slowed to a staggering 49% in February, hitting ranges not seen because the summer season of 2022. It seems that \u201c<\/span>being a pompous Nazi<\/a>\u201d isn\u2019t useful for enterprise.\u00a0<\/span><\/p>\n However Musk does have one individual supporting his enterprise: Trump.\u00a0<\/span><\/p>\n The president introduced that he <\/span>bought a Tesla<\/a> on Tuesday as a manner of bolstering his co-president\u2019s dwindling gross sales.<\/span><\/p>\n \u201cElon Musk is\u2019 \u2018placing it on the road\u2019 with the intention to assist our Nation, and he’s doing a FANTASTIC JOB! I\u2019m going to purchase a model new Tesla tomorrow morning as a present of confidence and help for Elon Musk, a very nice American,\u201d Trump <\/span>wrote on Truth Social<\/a>.<\/span><\/p>\n Bezos, alternatively, is bleeding his fortune as a result of equally poor option to <\/span>align himself with Trump<\/a>. Not solely did Bezos <\/span>dine at Mar-a-Lago<\/a> and announce plans for Amazon to <\/span>distribute a documentary<\/a> about Melania Trump, however he\u2019s additionally adopted a <\/span>more aggressive stance<\/a> together with his newspaper, The Washington Publish.\u00a0<\/span><\/p>\n Final month, Bezos <\/span>announced<\/a> that The Publish\u2019s opinion part would publish tales tied to \u201cprivate liberties and free markets\u201d with out showcasing opposing viewpoints. And on Monday, Ruth Marcus, a columnist and editor for The Publish, <\/span>quit<\/a> after the writer reportedly spiked a chunk of hers that dissented from Bezos.<\/span><\/p>\n Not solely have subscriptions to The Publish <\/span>plummeted<\/a> since Bezos made these modifications, however Amazon shares have dipped 14% since January 17.\u00a0<\/span><\/p>\n Zuckerberg has additionally skilled some monetary losses, with Bloomberg reporting that Meta\u2019s inventory rose 19% from mid-January to mid-February however has since misplaced these good points.\u00a0<\/span><\/p>\n As for the U.S. economic system, Trump has acknowledged that his tariff plans will trigger \u201c<\/span>a little disturbance<\/a>,\u201d which can absolutely intensify now that he\u2019s <\/span>increased tariffs<\/a> on Canadian aluminum and metal imports.\u00a0<\/span><\/p>\n However whereas the president insists we\u2019re not heading right into a recession, <\/span>experts disagree<\/a>.\u00a0<\/span><\/p>\n The general public is already <\/span>beginning to turn<\/a> in opposition to Trump. How for much longer till his billionaire buddies do the identical?<\/span><\/p>\n![\"Guests](\"https:\/\/cdn.prod.dailykos.com\/images\/1389645\/large\/AP25020584345956.jpg?1737401516\" "\\"Guests")