Over $1 TRILLION of wealth at Trump’s inauguration

Original: https://www.youtube.com/watch?v=NJylsuuY5yc
Author: https://www.youtube.com/@washingtonpostuniverse
Date: Jan 21, 2025

Description:
At Donald Trump’s inauguration, a caste of magnates worth more than $1 trillion, gathered behind him as he was sworn in as the nation’s 47th president, delivering a standing ovation and implicitly pledging their support to his agenda as he declared plans to expand U.S. territory, cast aside transgender rights and end “radical political theories” in the U.S. military.

It was a powerful sign of the role of wealth under the 47th president. Under the next administration, technology CEOs and founders stand to grow their riches even more, as Trump promises to steer resources to favorites and offers up a personal approach to who gets what. Trump, meanwhile, will get the legitimacy he always craved but sometimes felt he didn’t receive during his first term in office, as the most powerful people in the global economy flock to do business with him.

The gathering of the wealthy behind Trump led to some dissonant moments as the newly inaugurated president declared that he would upend the global trading system that enabled people like Amazon founder Jeff Bezos — who also owns The Washington Post — to become titans of modern society.

“I will immediately begin the overhaul of our trade system to protect American workers and families. Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” Trump declared, hinting at erecting trade barriers that would imperil Musk’s business interests in China and Apple CEO Tim Cook’s ability to source parts for iPhones from around the world.

But the applause came anyway. 

Caption from article by Michael Birnbaum and Cat Zakrzewski.