Market Retreats as Fed Adjusts Inflation Perspective; Nvidia Dips Amid China Sales Concerns

Stocks end down as Fed shifts inflation view. Nvidia slides on talk of China sales curb U.S. stocks closed lower after the Federal Reserve left interest rates unchanged and took a less confident view on inflation, and chip darling Nvidia renewed its slide on a report President Donald Trump's considering restricting the company's sales to
HomeLocalA Star-Studded Affair: The Mega Wealth Behind Trump's Inauguration

A Star-Studded Affair: The Mega Wealth Behind Trump’s Inauguration

 

Trump’s inauguration saw attendance from the wealthiest elite


At President Donald Trump’s inauguration, many of the wealthiest individuals in the world were in attendance, with some sitting closer to him than members of his own cabinet. The combined wealth of just three of these individuals—Mark Zuckerberg, Jeff Bezos, and Elon Musk—exceeds the GDP of any U.S. state besides the top five (California, Texas, New York, Florida, and Illinois).

 

These attendees are among the richest globally, with the companies they represent having even greater valuations. A single photograph from the event showcases nearly a trillion dollars in personal wealth. Let’s take a closer look:

Sundar Pichai, CEO of Alphabet (Google’s parent company), was also present, boasting a net worth nearing $1 billion in 2024, as reported by Bloomberg. According to Reuters, Alphabet’s valuation exceeds $2 trillion.

These billionaires were positioned before Trump’s cabinet nominees, including Robert F. Kennedy Jr., proposed for Health and Human Services, Pete Hegseth for Defense, and Pam Bondi for Attorney General.

 

Tim Cook, the CEO of Apple, represents a firm valued at about $4 trillion, per Reuters. Sam Altman, CEO of OpenAI, was also in attendance, sharing a similar net worth of approximately $2 billion according to Bloomberg.

TikTok CEO Shou Zi Chew has a reported net worth of $200 million and was seen near comedian/podcaster Joe Rogan and Tulsi Gabbard, who was nominated for director of National Intelligence.

 

Although Chew may not be as wealthy as the highest-ranking attendees, he leads a company valued at up to $300 billion, as reported by Reuters, and has connections to Zhang Yiming, the owner of ByteDance and the 32nd richest person globally with a net worth nearing $44 billion.

Other affluent individuals spotted at the inauguration included:

â—¾ $188 billion: Bernard Arnault, the owner of LVMH, which includes luxury brands such as Dior and Louis Vuitton.

 

â—¾ $34.8 billion: Miriam Adelson, who amassed her wealth through the casino industry.

â—¾ $11.8 billion: Rupert Murdoch, the proprietor of influential media outlets like Fox, The Wall Street Journal, and The New York Post.

Sources: Bloomberg Billionaires Index; Reuters; The Street; YSL News reporting.

Contributing: Kathleen Wong, Erin Mansfield