Billionaires turn on Trump after tariffs shake stock market

Billionaires who once supported President Donald Trump are now reversing course after Trump's tariff announcement shook the stock market.

Transcript

00:00Since Donald Trump announced sweeping tariffs across all nations, including ones that aren't

00:04even inhabited by humans, trillions of dollars of market value have been vaporized from the

00:07stock markets, and the billionaires who have seen their portfolios and net worth hit the hardest

00:11are starting to push back. Ken Langone, the billionaire co-founder of Home Depot and a

00:15large GOP donor, said, quote, I don't understand the goddamn formula, end quote, about how the

00:20tariffs were created. Ken Griffin, the billionaire founder of Citadel, said at a University of

00:24Miami event this week that it was a huge policy mistake to roll these tariffs out. Billionaire

00:28investor Stanley Drunkenmiller wrote on X that he doesn't think any tariffs should be above

00:3110%. Meanwhile, JPMorgan Chase CEO Jamie Dimon, who in January told CNBC in an interview that

00:37people worried about economic pain from tariffs should, quote, get over it, wrote in his annual

00:41letter that America first policies does not mean American alone policies. Dimon did not

00:46specifically name Trump in his letter, but he did note that America's security would be

00:50in danger if it were to break off all of its trade relationships.

00:58Okay.

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01:08.