Billionaire backers of President Donald Trump are watching their fortunes tumble as tariffs take a toll on Big Tech.

Some of the world's wealthiest people- from Elon Musk to Mark Zuckerberg- have added $304 billion to their combined net worth on Wednesday. The stock market soared after US President Donald Trump announced a 90-day pause on tariffs on all countries except China,

Elon Musk, Jeff Bezos and Mark Zuckerberg, all of whom saw their fortunes swell following US President Donald Trump's election, have witnessed billions – $80 billion to be precise – wiped from their cumulative wealth following the recent tariff policies,

Elon Musk delivered an update on government fraud and waste to President Donald Trump at a cabinet meeting on Thursday. ELON MUSK, DEPARTMENT OF GOVERNMENT EFFICIENCY: Well, thanks to your fantastic leadership,

After attacking Donald Trump’s trade adviser, Elon Musk was silent when Trump paused some tariffs. MSNBC’s Lawrence O’Donnell asks, “When did Elon Musk know that his stock price was going to start climbing back up because Donald Trump was going to announce that he was backing down?

Elon Musk called Donald Trump’s top trade adviser Peter Navarro “dumber than a sack of bricks” Tuesday, once again betraying the administration’s deep rift over the president’s disastrous tariffs. Navarro found himself in hot water with Musk after he called the billionaire bureaucrat a “car assembler” during an appearance on CNBC Monday.

Trump's 90-day tariff pause announcement sent the stock market rocketing and the world's wealthiest people added $304 billion to their combined net worth

Elon Musk saw a significant drop in his net worth over the last two days as the White House's "reciprocal" tariffs were revealed. The stock market reacted dramatically as the Dow Jones Industrial Average dropped over 2,200 points on April 4 and the S&P 500 declined almost six percent, the biggest dip since June 2020 during the pandemic.

Elon Musk scored a big win Wednesday as President Trump paused most of the tariffs that had bludgeoned Tesla's stock and caused serious consternation in the broader market. Why it matters: The Tesla CEO and Trump confidante had become increasingly public in his opposition to tariffs in recent days.