What happened to Tesla, Meta and Amazon after duties imposed
The image from Donald Trump’s swearing-in on January 20, with some of the richest people in the world side by side, is definitely impressive. People such as Elon Musk, Mark Zuckerberg and Jeff Bezos, who at that time had a total of $ 800 billion, look like the absolute sovereigns of the economic world.
In the same scene, Apple’s Tim Cook and Google’s Sundar Pitsai, two more giants, frame the scene. But, just 100 days later, this image changed dramatically, as Trump’s statements on duties led to serious falls on their companies’ brokerage values and significant losses for themselves.
These developments did not leave the billionaires of the swearing -in. The capitalization of large technology companies has fallen into one of the biggest falls of recent years. Indicatively, Tesla, Amazon, Meta and other companies saw their values decrease dramatically, with Tesla losing almost half a trillion. Dollar in capitalization and Amazon is reduced to about 1.9 trillion. dollars.
Only on Thursday and Friday, the world’s largest billionaires lost more than $ 200 billion in total, with Elon Musk, Mark Zuckerberg and Jeff Bezos being the biggest losers, with their fortunes decreasing by billions. Comparison with the economy of countries such as Greece seems almost unreal, when we consider that losses exceed the country’s GDP 10 times.
What remains to be wondering is whether these great entrepreneurs see these losses as a transient phenomenon or if they feel Trump’s decisions have caused more damage than they expected. Its supporters, including themselves, seem to now face the consequences of a decision that has directly affected the markets. Did they regret this support, or do they believe that the problem is temporary and will the value of their property be restored soon?
Time will show, but it is certain that this situation has highlighted the unstable conditions in which the world’s largest business players are moving and how vulnerable can even the most powerful economies in world political developments be.
huffingtonpost.gr