Business, politics and uncertainty, markets in great fluctuations - Musk, Bezos and Zuckerberg, wealth depreciates by 209 billion dollars
Billionaire tech giants like Elon Musk, Jeff Bezos and Mark Zuckerberg, who supported Donald Trump during the presidential election campaign, are facing severe financial consequences for their political involvement with Republicans.
According to the Bloomberg Billionaires Index, just seven weeks after the new president's inauguration, the wealth of the five billionaires who attended the inauguration has fallen by $209 billion. This huge loss has shocked Silicon Valley and the entire business world.
But what is the cause of this decline?
Since Trump took office, financial markets have seen huge swings. The S&P 500 index has lost 6.4 percent, while companies that were part of Trump's "swearing-in group" have lost $1.4 trillion in market value.
Tesla and Amazon are among the companies most affected. Amazon has lost 14 percent of its share value. Alphabet, the owner of Google, has also faced pressure due to investigations by the US Department of Justice.
The sudden change in the economic trend is linked to uncertainty over Trump's trade policies, fears of a recession and geopolitical tensions that have caused major concerns.
It remains to be seen whether this is a temporary decline or a more sustainable trend that will continue in the future.
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