Billionaires Speak Out Against Tariffs

The stock market took a hit, and some of the world's richest people are not happy about it. The tariffs are part of a bigger plan to change how the U. S. does business with other countries. The tariffs are a big deal because they affect how much things cost and how the economy works. Some billionaires, who usually support the president, are worried about these tariffs. Elon Musk, the head of Tesla, shared a video of an economist talking about the benefits of free trade. He even tried to talk the president out of the tariffs. Musk's brother, who is also on Tesla's board, called the tariffs a "permanent tax" on Americans. Musk has been arguing with the president's top trade adviser, even calling him a "moron. "Musk is not alone in his criticism. Ken Griffin, who started Citadel, said the tariffs are a "huge policy mistake. "He thinks the U. S. could lose its leadership role in the world because of them. Jamie Dimon, the CEO of JPMorgan Chase, wrote in his annual letter that the tariffs could lead to inflation and even a recession. He's worried about the uncertainty they bring. Bill Ackman, a hedge fund manager, has been a long-time supporter of the president. But even he thinks the tariffs are a bad idea. He wants the White House to pause the tariffs so they can negotiate without causing too much trouble. Daniel Loeb, another hedge fund manager, initially thought the tariffs wouldn't be too bad. But now, he's changed his mind. He shared a post saying the stock market chaos is all because of one person who can change his mind anytime. Larry Fink, the CEO of BlackRock, thinks the economy is already weakening. He believes the market could drop even more because of the tariffs. But he's still hopeful about the long-term outlook. Joe Lonsdale, the cofounder of Palantir, understands where the president is coming from. But he thinks the tariffs are structured in a way that could be better. Ken Langone, the cofounder of Home Depot, thinks the president has been badly advised. He believes the tariffs were calculated in a confusing way. Ray Dalio, who runs the world's biggest hedge fund, thinks the tariffs are part of a bigger breakdown in how the world works. He's concerned about how practical they are. Stanley Druckenmiller, a longtime hedge fund manager, thinks the tariffs are the "lesser of two evils" compared to an income tax. But an account believed to be his said he doesn't support tariffs over 10%. The president has been defending his tariffs, saying they're the only way to reset the U. S. 's trade with other countries. He's even open to negotiating with other countries, but it might take a while. Congress could also step in and undo the tariffs, but that's a long shot right now. There are even lawsuits challenging the president's authority to enact the tariffs. The tariffs are a big change in how the U. S. does business with other countries. They're meant to bring back manufacturing to the U. S. and punish other countries for unfair trade practices. But economists have been warning that this could raise prices for U. S. consumers and harm the economy. It's a complex issue, and even the richest people in the world are divided on it.