Washington: Tech billionaires who have strongly supported Trump in the presidential election have suffered a major setback. Alan Musk, a strong supporter of Trump, is also not untouched by this. These technical gurus who donated millions of dollars to Trump are now on the verge of losing billions of dollars. In response to Trump’s liberation day agenda, the US stock market has come down drastically.
Dow Jones has fallen more than one thousand points for the second consecutive day. Crude oil has reached close to $ 60. Not only America, but the danger bells of global recession are ringing.
Meta’s shares fell by about nine percent in the US stock market. Amazon was also so low. Google declined by 3.92 percent, while Apple also fell by nine percent. Tesla’s shares fell by 5.47 percent and X’s shares declined by 8.14 percent.
According to Forbes, as a result of this selling, Zuckerberg of Meta suffered $ 18 billion, Amazon’s Bezos was $ 16 billion and Musk $ 9 billion. According to the Bloomberg Billionaires index, the market falls in the world’s wealth of $ 200 billion in the world’s wealth, which is the fourth biggest decline in the last 13 years.
The biggest surprise is of Musk. Musk, who is considered a strong supporter of Trump, was expected to increase the assets, but Trump has taken over three months and during this time Musk’s wealth has fallen by $ 100 billion. Given this, it seems that Musk may regret if supporting Trump someday.
Musk donated about $ 300 million to Trump, while Meta and Amazon donated 1–1 million dollars to Trump for his swearing-in ceremony. While Apple’s Tim Cook personally donated a million dollars.
Regarding this decline, Treasury Secretary Scott Besant said that the decline in the market is the result of improving AI propaganda and higher value shares by investors for months. He said that this is the problem of top seven mega companies or magnificent consumption, MAGA is not a problem.
All these tech CEOs hoped that Trump would take a soft attitude on the regulatory front and remove policy obstacles. This will speed up the development of AI, but the situation is becoming the opposite.
The post shock to supporters supporter industrialists, 200 billion dollars destroyed first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
