Following multimillion-dollar donations and demonstrative support for Donald Trump at his second inauguration, top businessmen from the US tech and financial sectors have seen their companies’ shares plummet. The markets reacted negatively to the economic measures announced by Trump, including a 10% tariff on all trading partners. This was reported by Business Insider.
Apple, Amazon, Tesla, Meta, Google, Goldman Sachs – the list of giants who bet on Donald Trump now tops the list of victims of his economic initiatives.
Following Trump’s announcement on 2 April of “Deliverance Day” – when he promised to impose a 10% tariff and additional restrictions on more than 50 countries – the New York Stock Exchange and other financial markets suffered a sharp decline.
Apple lost 23% of its share price. CEO Tim Cook personally donated $1 million to Trump’s inaugural committee and attended the ceremony.
Amazon – -26%. Jeff Bezos publicly supported Trump and also attended the inauguration.
Google – -27%, despite the warm words of CEO Sundar Pichai to Trump.
Meta (Facebook/Instagram ) -17%, following Zuckerberg’s decision to remove fact-checking.
Goldman Sachs -27%, the bank removed the diversity section from the report to suit Trump’s anti-DDI rhetoric.
Tesla – -48%. Elon Musk made record contributions to Trump’s campaign – more than $260 million. Now the company is losing ground amid economic instability and protests.
Oracle is down -28%, despite Larry Ellison’s longstanding open support.
Only Uber lost a negligible 4%, despite a $1 million contribution to the inauguration.
Against the backdrop of economic instability, a logical question arises: have large corporations’ political investments in Donald Trump paid off?
Neither company had commented to Business Insider at the time of publication .
