Billionaire Titans Turn Against Trump's Tariffs: "These Are Acts of War" - International Edition (English)

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Similar to numerous voters, billionaires appeared to move towards the right in the 2024 election.

Dozens of high-profile investors and tech founders flooded into President Donald Trump's camp, hoping for tax breaks, fewer regulations, and lowered inflation .

However, the supporters of the MAGA movement are beginning to drift away from their recent fervent advocates.

Several millionaires have voiced their opinions Opposed to the President's 10 percent tariff policy, arguing that it jeopardizes America’s financial and security supremacy and might trigger an 'economic nuclear war.'

The latest addition to MAGA was not shocked by the new tariffs.

They were, nonetheless, astonished by the magnitude and implementation of the policies. The markets expected the tariffs to be limited in scope; hence, they suffered massive losses—trillions of dollars—as they discovered Trump’s threat extended almost entirely worldwide.

And billionaires receiving significant compensation through their companies' stock experienced substantial losses in their personal wealth due to these market changes, including One Trump supporter who saw a loss of $130 billion .

Several wealthy individuals, some of whom recently supported Trump, are now voicing their opposition to the administration or its policies.

Below are several top-earning Americans who have discussed the adverse effects of tariffs:

Elon Musk

The wealthiest person globally, who leads both Tesla as CEO and owns X, along with founding SpaceX, parted ways with the President due to disagreements over tariffs following a loss of $130 billion in personal wealth.

Elon Musk, who has invested millions of dollars into the 2024 campaign To bring Trump back to the White House, he has begun criticizing some of the President's top advisers regarding tariff issues.

His criticism has aimed at Peter Navarro One of the key figures behind the tariff policies criticized the fellow Trump supporter, referring to them as 'less intelligent than a bag of bricks,' on X.

Musk also mentioned his desire for the US and Europe to change their approach into a tariff-free environment.

Warren Buffett

Buffet seldom discusses political matters and did not support any contenders in the 2024 election.

Nevertheless, the usually quiet and legendary investor voiced his objections to the tariffs. In an uncommon announcement in March , several weeks prior to when Trump initiated his tariff policies.

He noted that American consumers, who are already grappling with historically high levels of inflation, will probably face even more elevated prices on their purchases.

"To some extent, they can be considered acts of war," he stated during an interview. CBS News .

'Overtime, they become a levy on products. I mean, the tooth fairy doesn’t cover them!'

Jamie Dimon

The chief executive of JPMorgan Chase, who discreetly backed Kamala Harris in the 2024 election, has emerge as one of the leading opponents of tariff policies in recent days.

The wealthy individual was being considered for advisory positions soon following the election.

However, in his yearly message to his employees, the CEO stated that he does not consider tariffs to be a wise economic strategy.

'Despite uncertainty about whether the tariff menu will trigger a recession, it is clear that it will hinder economic growth,' Dimon stated in his annual letter.'

If the military and economic partnerships within the Western world were to break apart, the United States would likely experience a gradual decline.

Ken Griffen

The wealthy founder of Citadel, a hedge fund manager, has stated that President Trump’s tariff strategy essentially imposes an additional tax burden on households with lower incomes.

"It’s not fair to inform a household with a moderate income or financial difficulties earning $50,000 annually that their expenses will increase by 20%, 30%, or even 40% for items such as groceries, a toaster, a new vacuum cleaner, or a new vehicle," Griffin stated during an event, reportedly. Bloomberg .

Griffen similarly took issue with the recurring argument from the Trump administration that tariffs would revive manufacturing employment.

"Even if the aspiration for jobs returning to America becomes reality, it would be a vision spanning two decades," he stated.

It's neither 20 weeks nor two years. It's for decades.

Bill Ackman

A supporter of Trump, Bill Ackman, recently implored the president to halt the tariff initiative in an extensive blog post.

Through imposing hefty and uneven tariffs both on allies and adversaries, thus initiating an immediate worldwide economic conflict, we are currently eroding trust in our nation as a reliable trade counterpart," he stated.

'On the contrary, if we initiate an economic scorched earth policy on all nations around the globe on April 9th, corporate investments would likely cease entirely.'

Ackman has since withdrawn certain portions of the post, stating that they were 'misunderstood.'

He stated that he continues to be a devoted supporter of Trump.

Dan Loeb

Loeb, a billionaire hedge fund manager and CEO of investment company Third Point, has similarly voiced opposition to tariffs on X.

A follower of Donald Trump, who had earlier endorsed 'America First' initiatives, shared a widely circulated tweet that took issue with Trump for frequently altering his policy stances.

For the moment, [the economy] relies solely on the thoughts of one individual," the widely shared post stated. "A person who has the power to alter their perspective anytime.

Loeb replied with a single word: 'exactly.'

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