Allen & Company Annual Conference Draws Media And Tech Leaders To Sun Valley

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The richest men in the world have gotten poorer since Trump took office. Not Warren Buffett.

Buffett’s $334 billion cash pile looks pretty good right now, huh?

4/4/25 11:19AM

In his second term, President Trump has courted tech CEOs with promises of lax regulations and tax cuts. So far, it hasn’t worked out too great for them.

Elon Musk, Jeff Bezos, and Mark Zuckerberg are all poorer since they were spotted at Trump’s inauguration. Warren Buffett, chairman of Berkshire Hathaway, hasn’t publicly cozied up to Trump, and his wealth has grown about $20 billion since Inauguration Day.

Musk, the world’s richest man and Trump’s biggest cheerleader, has taken the biggest hit as Tesla underperforms as a business, leading investors to lose confidence. Another Trump-friendly CEO, Amazon’s Bezos, has lost at least $50 billion of his net worth since Trump was elected, as the president’s policies weigh on consumer sentiment. Meta CEO Mark Zuckerberg is now at least $30 billion poorer since Trump took office.

These men have lost billions amid a market sell-off that has hit their tech stocks particularly hard. Buffett’s Berkshire Hathaway, meanwhile, has been more insulated from the downturn because of its large cash pile and shrinking exposure to the stock market, including selling off a chunk of its stake in Apple.

Warren Buffett watching the stock market collapse while holding $300 Billion in T-Billspic.twitter.com/dkf6z23d0c
— Geiger Capital (@Geiger_Capital) April 3, 2025

Jon Keegan10h

In December, the White House announced a new program to let wealthy foreigners get a shortcut to US citizenship — the “Trump Gold Card.” After paying a $15,000 application fee, passing a vetting process, and ultimately paying a $1 million “contribution,” the applicant gets a card in President Trump’s favorite color that grants the owner US citizenship “in record time.”

So, how many of these rich foreigners have received their shiny ticket to American residency? Commerce Secretary Howard Lutnick told a House committee today that only one of the cards has been issued, but “hundreds” of applications are being reviewed.

In December, Lutnick predicted that the cards could generate up to $1 trillion in revenue.

Jake Lahut4/21/26

Who’s next to leave the Trump admin following Chavez-DeRemer’s departure?

After a few abandoned nominations and the occasional lateral demotion during President Donald Trump’s first year in office, turnover has accelerated dramatically.

Just in the past month, top officials such as Attorney General Pam Bondi, Homeland Security Secretary Kristi Noem, and Labor Secretary Lori Chavez-DeRemer have left their posts.

Following a report from The Atlantic alleging heavy drinking and absenteeism plaguing FBI Director Kash Patel, the odds of his departure from the Trump administration in 2026 shot up sharply, with traders now pricing in an 80% chance he won’t last the year.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Tulsi Gabbard, the director of national intelligence, is another official who could be on the ropes. Her deputy, Joe Kent, has already resigned over the Iran war. Gabbard’s 2020 presidential campaign — and appeal in broadening Trump’s electorate in 2024 — heavily centered around ending perpetual “regime change wars.” The White House has indicated to Gabbard that they want her gone before the midterms, but the timing of her departure remains vague, according to two sources familiar with the discussions who spoke to Sherwood News in recent weeks.

As for who will replace the outgoing members, pay attention to who can be confirmed by the Senate. To replace Bondi, a Trump adviser told Sherwood the most likely replacements are acting Attorney General Todd Blanche, Trump’s former personal attorney, as well as EPA Administrator Lee Zeldin.

Which Trump officials might be next to leave the administration

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

$1.4B

Rani Molla4/21/26

In an effort to cement control ahead of SpaceX’s IPO, Tesla and SpaceX CEO Elon Musk bought $1.4 billion in shares of the rocket company from current and former employees last year, The Information reports, citing the confidential IPO prospectus.

The filing also revealed a moon shot incentive plan for the boss: Musk stands to gain 60 million more shares if SpaceX’s market cap increases to as high as $6.6 trillion and it completes a plan to build AI data centers in space. For its June IPO, the company is targeting a more than $2 trillion valuation.

Jake Lahut4/20/26

Lori Chavez-DeRemer out at Department of Labor

Lori Chavez-DeRemer resigned as President Donald Trump’s labor secretary on Monday, sources familiar with the matter told NOTUS.

Her tenure at the department was mired in scandal, including her husband being barred from headquarters after women employees reported he had touched them inappropriately. Chavez-DeRemer and a top aide reportedly texted women on staff to “pay attention” to the secretary’s husband and her father around the office, according to The New York Times.

The department’s inspector general had been investigating those messages and personal requests made of staff members.

Labor Secretary Lori Chavez-DeRemer Has Resigned

Jon Keegan4/17/26

Report: Anthropic’s Amodei headed to White House to settle dispute

In February, President Trump called Anthropic “A RADICAL LEFT, WOKE COMPANY,” and said of the company’s Claude AI technology: “We don’t need it, we don’t want it, and will not do business with them again!”

Now, less than two months later, Anthropic CEO Dario Amodei is scheduled to meet with White House Chief of Staff Susie Wiles today, according to a report from Axios.

After being declared a supply chain risk to national security by the Pentagon, and then suing the government to block the action, Anthropic finds itself in a powerful position: it has announced that its new Mythos AI model is capable of planning and executing offensive cyberattacks, and therefore would be shared only with a close group of trusted partners for testing before wider release, leading the US Treasury to try to get its hands on the new model.

The White House meeting is expected to result in some sort of deal that settles the dispute with the company, per the report.

Scoop: Anthropic to have peace talks at White House