In a remarkable turn of events, several prominent tech CEOs who once rallied behind Donald Trump at his inauguration have witnessed a staggering decline in their fortunes. Since President Trump proposed extensive tariffs on a wide array of U.S. trading partners last week, the combined financial loss for leaders such as Mark Zuckerberg of Meta, Jeff Bezos from Amazon, and Elon Musk of Tesla amounts to $80 billion, as indicated by the Bloomberg Billionaire Index. This substantial dip in net worth has been largely driven by a negative stock market response, with experts warning that these tariffs could inflate costs for consumers and slow economic expansion in the country.

Notably, each of these tech moguls has experienced a decline of at least 19 percent in their net worth following the tariffs' announcement. Elon Musk has been hit the hardest, as his wealth decreased to $290 billion on April 8, marking a low point for him over the previous years. The value of Tesla's stock dropped around 12 percent since the tariffs were introduced, contributing significantly to Musk's net worth reduction. Known for his close ties to the Trump administration and influences on federal policies, Musk is now grappling with the financial repercussions of the tariffs, especially those relating to imports.

Mark Zuckerberg's fortunes are also taking a hit, with a loss of $26 billion attributed to the decline of Meta's stock, which fell by 6 percent in just five days and has decreased 30 percent since reaching its peak in February. Much of Zuckerberg's wealth is closely linked to the performance of his company, with potential repercussions for advertising revenue if companies begin to cut back on ad spending as a result of rising costs due to tariffs.

Similarly, Jeff Bezos has seen a $21 billion decline in his wealth, with volatility in Amazon's stock price following the tariffs implementation. The company's stock has surrendered nearly 30 percent of its value since early February, and the ongoing tariffs, particularly those on imports from China, create new uncertainties for the business. As part of a strategy to mitigate exposure to potential tariffs, Amazon recently made the decision to cancel some inventory orders from China. Despite their previous financial support for Trump's inauguration, the shifting economic landscape has led to significant financial repercussions for these tech giants.