In January 2021, five billionaires—Elon Musk, Jeff Bezos, Mark Zuckerberg, Bernard Arnault, and Sergey Brin—attended President Trump’s second inauguration, signaling strong support for his policies. Initially, markets surged, with notable gains in companies like Tesla and Meta. However, within weeks, the market reversed dramatically, leading to a collective loss of $209 billion for these individuals.
The S&P 500’s 7% drop reflected broader market shifts, and the tech and luxury sectors suffered. Tesla’s sales fell, Amazon’s stock dropped, and other companies faced similar declines. The situation highlighted the risks of relying on political endorsements for long-term financial success. Despite initial optimism, investor sentiment soon adjusted to economic realities, demonstrating how volatile the market can be.
This episode underscores the importance of aligning political support with a realistic understanding of market fundamentals.
