Musk is Pissed Off with Peter Navarro Who Brainwashed Trump - Result Tariffs

[bver_hunter]

Trump tariff fallout: Navarro downplays sell-off, while Musk slams his qualifications; tech and finance chiefs reportedly head to Mar-a-Lago

Elon Musk took aim at Peter Navarro, as the top Trump trade advisor continues to defend the president’s sweeping tariffs.

“The market will find a bottom. It will be soon, and from there, we’re going to have a bullish boom, and the Dow is going to hit 50,000 during Trump’s term,” Navarro said on CNN Saturday.

“A PhD in Econ from Harvard is a bad thing, not a good thing,” Musk wrote in a post on X, responding to a post on the social media platform by a user touting Navarro’s qualifications.

Musk — whose DOGE team is engaged in a controversial effort to cut federal spending, including mass layoffs — also said that Navarro hasn’t built “s--t.”

The billionaire SpaceX founder, who has been an influential voice during the early days of the Trump White House, may be leaving the administration in the coming months, NBC News reported this week.

https://www.cnbc.com/2025/04/05/trump-tariffs-live-updates-global-trade-reacts.html

Of course Peter Navarro is delusional if he thinks that the Dow is going to hit "50,000" under Trump's reign.

 

[bver_hunter]

The 3 Multibillionaire Trump ass kissers are probably not so pleased with what they supported during the 2024 campaign:

Zuckerberg, Bezos and Musk each lose more than $23 billion after Trump tariffs spark market meltdown

As President Donald Trump’s “reciprocal” tariffs announcement sent shockwaves across Wall Street, the world’s richest people lost billions of dollars in net worth almost overnight.

On Wednesday, Trump announced a baseline 10% tariff for imported goods from all countries set to take effect on April 5, and “individualized” tariffs as high as 50% on a series of specific countries and regions. The announcement sparked a stock market meltdown: The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite each fell by more than 5% on Friday, following similar losses on Thursday.

Collectively, the two-day drop wiped out $30.9 billion in net worth for Elon Musk, $23.49 billion for Jeff Bezos and $27.34 billion for Mark Zuckerberg — the world’s three richest people, in that order — according to Bloomberg’s Billionaires Index. The world’s 500 richest people experienced the biggest two-day loss ever recorded by the index, according to Bloomberg.

Much of the top trio’s net worth comes from the value of their respective companies: Tesla, Amazon and Meta. The newly announced tariffs are hitting tech stocks particularly hard, due to the industry’s reliance on manufacturing, computer chips and IT services from countries like China, India and Taiwan.

Trump’s announcement included a 32% tariff rate on Taiwan, a 26% rate on India and an increase on China that brings its total rate to 54% on imported goods. A decrease in American economic growth could also damage advertising revenue for Amazon and Meta, CNBC Investing Club with Jim Cramer noted on Thursday.

Musk, who works closely with Trump as a senior advisor and de facto head of the administration’s Department of Government Efficiency (DOGE), was already experiencing losses to his net worth in 2025. Tesla announced sales of 336,681 cars in this year’s first quarter on Wednesday, a 13% drop compared to last year, marking its worst quarter since 2022.

In total, Musk’s fortune has taken a hit of $130 billion so far this year, the Bloomberg index says. His current estimated net worth of $302 billion remains well ahead of that of Bezos, at $193 billion, and Zuckerberg at $179 billion.

Not all billionaires lost money on Thursday and Friday’s rout. Rocket Mortgage co-founder and Cleveland Cavaliers owner Dan Gilbert gained $1.91 billion on Friday, giving him a net worth of $32.4 billion, according to Bloomberg’s index. Mexican businessman Carlos Slim got $2.9 billion richer on Thursday — before losing $5.48 billion on Friday, the index says.

Slim, 85, who was named the world’s richest person by Forbes from 2010 to 2013, got his start as a stock trader in Mexico in the 1960s. His estimated net worth of $80 billion comes primarily from holdings in his longtime industrial conglomerate Grupo Carso and Latin American telecom firm América Móvil, according to Forbes.

Slim predicted that the Trump administration’s tariffs will be temporary, and primarily used as a negotiation tactic, he told Bloomberg in an interview that published on Tuesday. On Thursday, Trump said he’d be open to negotiating tariff rates with other countries, despite White House aides insisting the opposite.

“The U.S. doesn’t have any other alternative rather than changing how it does things,″ Slim said.

https://www.cnbc.com/2025/04/05/trump-tariffs-zuckerberg-bezos-musk-lose-billions-on-market-meltdown.html

 

[bver_hunter]

 

[bver_hunter]

 

[oil&gas]

I thought Trump's tariffs could benefit only the filthy rich!

 

[Frankfooter]

Those losses are what will end trump's rule.
The US is an oligarchy.
Piss them off and you're done.

https://twitter.com/i/web/status/1909074444624031979

 

[keyakizaka46fan]

I am strongly hoping oligarchs with political influence are able to put an end to this. If there's anything you can count on, it's people's self interest and I'd wager none of them care more about ideology than money.