Here's your Forbes Daily Briefing for Monday, March 17th. Today on Forbes, here's how much American

billionaires have lost since Trump's inauguration. President Donald Trump has more billionaires

in his administration than any previous president, with at least nine. He counts plenty of billionaires as friends or fans.

16 visited him at Mar-a-Lago between the election and inauguration.

Meta CEO Mark Zuckerberg reportedly just went to the White House last Wednesday,

following a Trump-Zuck White House meeting in early February.

But having a pro-business, pro-capitalism president, who is also a billionaire,

hasn't turned out very well so far for the members of the three-coma club.

From January 20th through Thursday, March 13th, the S&P 500 index fell 7.9%,

while the tech-heavy NASDAQ index tumbled 11.8%. That downturn hit the

country's richest people in a big way. Collectively, American billionaires are now $415 billion

poorer, according to Forbes' calculations. By contrast, the S&P 500 inched up 2.4% and the NASDAQ down 1%

in the same period following Joe Biden's inauguration. Over that same time span, U.S.

billionaires got $153 billion richer, a 3.6% increase. Among the factors driving stocks lower, Trump's on-again,

off-again decisions on imposing tariffs on Canada and Mexico. That has created uncertainty,

something that corporate leaders abhor. Plus, the new 25% tariffs that Trump placed on all

steel and aluminum imports earlier

this past week looked to be setting off a trade war, with the EU planning to launch its own

tariffs on U.S. goods on April 1st.

Adding to the concerns, in early March, the Atlanta Fed predicted a 2.8% contraction in economic

growth for the first quarter quarter in what's being dubbed

a so-called, quote, Trump Session. No billionaire has been hit as hard as Trump's right-hand man,

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