The top five billionaires have lost more than $200 billion since Trump took office

Amid volatile stock markets, the five billionaires who attended President Donald Trump's inauguration have lost a combined $209 billion in wealth and $1.39 trillion in market value at the helm of their companies.

Five billionaires who attended the inauguration, Elon Musk, Jeff Bezos, Mark Zuckerberg, Sergey Brin and Bernard Arnault, After Trump took office, the market value of the company soared, and tasted the sweetness of a sharp rise in wealth. However, as the stock market has fluctuated wildly, the wealth of the rich has also shrunk.

According to the Bloomberg Billionaires Index, the fortunes of the five billionaires have dropped by $209 billion since Jan. 17, led by Musk's $148 billion plunge.

Thanks to the surge in Tesla's share price, Musk's net worth reached $486 billion on December 17 last year, the highest in the history of the Bloomberg Wealth index, but as Tesla gave up gains due to plunging sales in Europe and China, Musk's net worth also fell.

Then there's Bezos, whose Amazon (AMZN, Tech30) shares have fallen 14% since Jan. 17 and whose net worth has inevitably fallen $29 billion. Then there's Brin, who is worth $22 billion as the stock of Alphabet, Google's parent company he founded and owns a stake in, tumbled on weaker-than-expected revenue.

Zuckerberg and Arnault each lost $5 billion. Meta, Facebook's parent company, saw its share price rise 19% between mid-January and mid-February this year, but quickly gave up all the gains, dragging down Zuckerberg's wealth.

As for Arnault, LVMH, which he owns, saw its shares surge more than 20% between the U.S. presidential election and the end of January, before quickly giving up those gains. Morningstar research analysts noted last month that Trump's 10 to 20 percent tariffs on European luxury goods could add to already weak luxury sales.