r/technology • u/DontFearTheCreaper • 1d ago

Social Media Tech CEOs who grinned behind Trump at inauguration lose billions in wake of tariffs

https://www.independent.co.uk/news/world/americas/us-politics/trump-tariff-bezos-musk-zuckerberg-b2727147.html
66.1k Upvotes

90% Upvoted

2.0k comments sorted by

View all comments

2.2k

u/princeofzilch 1d ago

I haven't heard that they're upset about it. 

2.0k

u/Objective_Resist_735 1d ago

That's because they can lose 100 billion dollars and still be the richest people on the planet. That doesn't matter much to them. They are currently dividing up government agencies and taking control of them under the guise that the free market will do things better. In reality it will turn services into for profit business that prey on their customers, and we will lose all control to a few people and never get it back.

23

u/wandering-monster 1d ago

No, it's because they've lost $100B in stock valuation.

They already took out loans against that stock as collateral. Meaning: they have the cash in hand. The banks lost $100B today, if they decide to call in the loans and force them to sell.

The tech bros will use that cash to buy stuff up when the market crashes, own even more of the economy, then let it recover.