Bay Area Tech CEOs Lose Billions Amid Trump Tariffs

Tech billionaires who supported Donald Trump are facing significant financial losses following his announcement of sweeping tariffs, which led to a historic market plunge. On April 3, 2025, the stock market dropped 1,700 points, resulting in a total loss of $3.1 trillion, disproportionately affecting tech stocks like Apple, Meta, and Amazon. Elon Musk, a notable Trump ally, saw his wealth decline by $8.7 billion, while Jeff Bezos lost $16 billion and Mark Zuckerberg experienced a $17.9 billion drop. Analysts attributed the market's reaction to a correction from inflated tech stock values and investor concerns over the tariffs' impact on companies reliant on international supply chains. Despite their losses, many of these billionaires previously expressed optimism about Trump's regulatory agenda and donated millions to his campaign. The tariffs are expected to significantly affect pricing and production costs for major tech companies, as analysts warn of potential long-term consequences.