Fact Check: Billionaires at Trump's Swearing-In Have Since Lost $210 Billion

What We Know

The claim that "billionaires at Trump's swearing-in have since lost $210 billion" has been widely circulated, particularly in the context of the economic fluctuations during and after Donald Trump's presidency. The assertion suggests that prominent billionaires who attended the inauguration, such as Elon Musk, Jeff Bezos, and Mark Zuckerberg, have collectively lost this substantial amount since January 20, 2017.

According to reports, the losses are attributed to various factors, including significant stock market fluctuations, particularly during the COVID-19 pandemic and subsequent economic conditions. For instance, the S&P 500 index reportedly dropped nearly 7% shortly after Trump's inauguration, contributing to the wealth decline of these billionaires (source-5, source-6).

The claim specifically mentions that five of the world's richest individuals who were present at the inauguration have lost a total of approximately $210 billion, with Elon Musk alone accounting for a loss of around $145 billion due to the decline in Tesla's stock price (source-4, source-7).

Analysis

While the claim appears to be grounded in observable economic data, it lacks specificity regarding the exact billionaires referenced and the methodology used to calculate the $210 billion loss. The assertion does not clarify the time frame for the losses, nor does it specify whether the figure accounts for fluctuations in net worth over time or is simply a snapshot of current values compared to those at the time of the inauguration.

The sources reporting on this claim vary in reliability. For example, Bloomberg, a reputable financial news outlet, reported on the losses and provided context regarding the stock market's performance (source-2). However, other sources, such as YouTube videos and less established news outlets, may not provide the same level of scrutiny or accuracy (source-4).

Moreover, while the claim of a $210 billion loss is echoed across multiple platforms, the lack of a definitive source corroborating this exact figure raises questions about its accuracy. The economic landscape has been influenced by numerous factors, including the COVID-19 pandemic, inflation, and interest rate hikes, which complicate the assessment of wealth loss directly attributable to Trump's inauguration (source-3).

Conclusion

The claim that billionaires at Trump's swearing-in have since lost $210 billion is Partially True. While there is evidence suggesting significant financial losses among prominent billionaires since the inauguration, the exact figure of $210 billion lacks robust verification and specificity regarding the time frame and methodology used for calculation. The economic context surrounding these losses is complex, influenced by various external factors that extend beyond the inauguration itself. Therefore, while the claim is not entirely unfounded, it requires further investigation and clarification to be fully substantiated.

Fact Check: Billionaires at Trump's Swearing-In Have Since Lost $210 Billion