When it became clear that Donald Trump had won the U.S. election, most of the world’s stock markets saw a surge in excitement. The gains persisted until the beginning of the year, then everything changed.
Trump’s threats of massive layoffs in the public sector and trade tariffs have created concern and caused the American stock market to plummet. Many large companies that donated money to Trump’s inauguration would have preferred favorable business policy decisions instead.
Elon Musk
One of the most talked-about moments at the then newly elected president’s inauguration was perhaps the gesture made by Tesla’s founder to thank supporters after the official ceremony.
However, criticism of Musk in recent months has not only been about the hand gesture. The car manufacturer’s sales figures have plummeted, and many wonder if Musk has the time to lead Tesla’s operations while being deeply involved in politics.
Since the beginning of the year, Tesla has plummeted by 41%, and Musk’s fortune has decreased by 760 billion SEK.
Börje Ekholm
Telecom giant Ericsson donated around 5.5 million SEK to Trump’s inauguration ceremony.
“Our strong market share in the U.S. and our commitment to secure networks make us a critical part of the national security structure. The donation reflects this,” commented CEO Börje Ekholm on the contribution.
After a strong 2024, Ericsson’s stock has had a weak start to the year, with a decline of about 9%. Ekholm owns shares worth 142 million SEK in the company.
Daniel Ek
Spotify donated 1.7 million SEK to Trump’s inauguration ceremony. The stock has slightly declined after a strong start to the year, with an overall increase of 12%.
Daniel Ek’s fortune amounts to just over 80 billion SEK. The founder of the streaming service has sold shares worth over 2.2 billion SEK in the past year.
Mark Zuckerberg
Facebook founder was present when Trump was elected as the President of the United States.
The former adversaries have reconciled, and “Zuck” donated around 10 million SEK to the inauguration ceremony. However, the market has been tough on Meta’s stock in the past month, dropping by 14%. For Mark Zuckerberg, this translates to a wealth loss of 350 billion SEK.
Jeff Bezos
Amazon’s founder has lost nearly 200 billion SEK in the tech freeze on the American stock market. Bezos was present at Trump’s inauguration and donated 10 million SEK.
He recently faced harsh criticism after announcing that The Washington Post, which he owns, will no longer publish opinions that oppose “personal freedoms and free markets” on the newspaper’s opinion pages.