Call it the billionaire boomerang: The ultrawealthy are turning on Trump over tariffs

Submitted ⁨⁨1⁩ ⁨week⁩ ago⁩ by ⁨MicroWave@lemmy.world⁩ to ⁨economics@lemmy.world⁩

https://www.businessinsider.com/billionaires-trump-tariffs-stocks-hedge-funds-ackman-loeb-druckenmiller-2025-4

Summary

Trump’s recent tariff hikes have triggered a sharp market downturn, prompting backlash from wealthy former allies.

Billionaires like Dan Loeb, Bill Ackman, and Ken Griffin have condemned the policy shift, citing financial losses and economic instability.

JPMorgan CEO Jamie Dimon warned tariffs could isolate the U.S. and slow growth. Home Depot’s Ken Langone questioned the tariff logic, while Stanley Druckenmiller opposed rates over 10%.

Investors feel powerless amid volatility driven by political decisions, not fundamentals.

source

Comments

Sort:hotnew top

kata1yst@sh.itjust.works ⁨1⁩ ⁨week⁩ ago
If only they could have anticipated the candidate that promised mass deportations, extensive weaponized tariffs, and has a known habit of not paying debt and bankrupting successful businesses would be bad for the economy!

source
Fingolfinz@lemmy.world ⁨1⁩ ⁨week⁩ ago
Billionaires should be imprisoned for life for their crimes against humanity and nature. Also, are they fucking stupid? What else were they expecting?

source
- sharkfucker420@lemmy.ml ⁨1⁩ ⁨week⁩ ago
  Well it isn’t as if billionaires are a unified block. They have the obvious split between Democrat and Republican but since they are also relatively safe in their position regardless of who wins an election there are also many who are aren’t particularly bothered either way until it screws them. So we have this group who was maybe willing to hear Trump out in some regards realizing very quickly that they are gonna get screwed. It was bound to happen but the incoming economic crisis should allow those who support Trump to buy up the businesses that fail and consolidate economic power. We will see though
  
  source
  - Fingolfinz@lemmy.world ⁨1⁩ ⁨week⁩ ago
    Well hopefully they’ll all get eaten at the end of everything
    
    source
pdxfed@lemmy.world ⁨1⁩ ⁨week⁩ ago
Businesses and billionaires need “certainty” in the boardroom. It’s why they support Republican candidates who focus on “the economy”.

I hope they choke in the absolute certainty they’re being delivered. Such a classic golden goose allegory.

source
DogPeePoo@lemm.ee ⁨1⁩ ⁨week⁩ ago
Ken Griffin is a financial terrorist.

Jamie Dimon is a financial terrorist.

Bill Ackman is a fucking weasel cunt.

source
ChicoSuave@lemmy.world ⁨1⁩ ⁨week⁩ ago
Blame Ron Vara

source