Elon Musk, Jeff Bezos and Mark Zuckerberg were front and centre at US President Donald Trump's inauguration on January 20.
But according to the Bloomberg Billionaires Index, the world's richest people are haemorrhaging money after last week's "Liberation Day" tariff announcements by Donald Trump.
The 10 wealthiest people in the world lost US$75.21 billion ($123.07 billion) in just the past 24 hours to April 7, part of an ongoing financial bloodbath that saw the billionaire list's inhabitants lose a collective $US536 billion ($887 billion) on Thursday and Friday last week.
All the following values are in US dollars.
Tesla chief executive officer Elon Musk's net worth peaked at $486 billion on December 17.
This is the largest fortune ever recorded on the Bloomberg Billionaires Index.
Most of Musk's gains came from Tesla and the company's stock nearly doubled after the election.
However in the weeks since the election, Musk's net worth has fallen to US$302 billion.
A decline in Tesla sales contributed to this fall, including in Germany where sales fell by more 70 per cent in the first two months of the year.
Meanwhile Chinese shipments nearly halved last month to levels not seen since July 2022, according to Bloomberg.
Donald Trump has since bought a Tesla to show support for Musk as his company continues to face blowback from consumers.
Musk also lost the most in the past 24 hours with a $19.9 billion decrease – almost double the next highest.
Mark Zuckerberg's company Meta, which owns Instagram and Facebook, is part of a group of technology stocks known as the Magnificent Seven.
The rest of the group consists of Apple, Microsoft, Alphabet, Amazon, Nvidia and Tesla.
As other companies flatlined, Meta rose 19 per cent from mid-January to mid-February.
But Meta's stock has lost all of those gains since then.
Zuckerberg's net work is now down $28.1 billion year-on-year, $9.44 billion of that in the past 24 hours.
He has a current net worth of $179 billion.
The former Trump critic has shown support for the US President at a time when Meta's platforms had drawn concerns about misinformation and hate speech following its decision to end its third-party fact checking program.
Like Zuckerberg, Amazon CEO Jeff Bezos is a former critic of Donald Trump.
The two have argued over the postal service and his ownership of the Washington Post.
However Bezos has shown support for Trump and even donated $1.5 million to his campaign.
However since January 17, his fortunes have tumbled.
He is now down to $193 billion.
But this was not the only loss for Bezos.
The CEO also went to dinner with the US President-elect preceding Trump's swearing-in.
The next day he announced his newspaper will prioritise personal liberties and free markets in its opinion section, marking a shift away from broad opinion coverage.
The decision resulted in the resignation of a top Washington Post columnist who had worked at the publication for four decades.
French billionaire Bernard Arnault is the head of the world's largest luxury goods company LVMH.
The multi-national conglomerate owns a swathe of brands including Louis Vuitton, Moet Hennessy, Dior, Givenchy, Tiffany & Co. and Sephora.
Arnault, who has been a friend of Trump's for years, saw a 20 per cent jump in LVMH from the election in November last year to late January.
But this increase was short-lived and Arnault's wealth has fallen by $18.6 billion in the past year, to $158 billion.
There could be more challenges on the way for the billionaire.
A 10 to 20 per cent tariff on European luxury goods could affect sales, according to a report by Morningstar analysts.
US computer scientist Sergey Brin is the brains behind search engine Google alongside co-founder Larry Page in 1998.
The company has rapidly grown since its inception and Brin now has a six per cent stake in the company.
Brin has previously publicly disagreed with Trump, including his administration's immigration policy in 2017.
After Trump entered his second term, Brin joined the US President for a meal at Mar-a-Lago.
Following the inauguration, shares in Google's parent holding company Alphabet fell.
Bloomberg has estimated Brin's wealth is down US$32.3 billion from this time last year, to 4126 billion.
Alphabet is also facing opposition from the US Justice Department, encouraging the technology giant to break up its search engine company.
Notably not a public supporter of Trump, investor Warren Buffett previously warned against the impact of tariffs on the US economy.
He has not commented since "Liberation Day" on April 3, but has shot down a false online claim that he had praised Trump's economic decisions.
Buffett's fortune is also the only one in the top 10 currently in the black for the year, although the current market chaos has hit him too.
Bloomberg estimated his net worth at $155 billion – down $10.7 billion since yesterday, but still up $12.7 billion on this time last year.
Trump-backing billionaires poised to lose nearly a trillion dollars in two days – 9News.com.au
