The U.S. is 20 percent poorer than it was just a month ago because of President Donald Trump’s floundering economic policy, a Republican megadonor has said.
Citadel CEO and billionaire founder Ken Griffin said at an economic summit in Washington, DC. that Trump’s tariff warfare is making investors jittery and tarnishing America’s reputation overall.
.@GinaChon: Is there any space where you see room for optimism or opportunities?Ken Griffin: “If you use the Euro as a reference currency, [the US has] become 20% poorer in four weeks. There’s not a lot of money to be made in that environment.” #WorldEconomySummit pic.twitter.com/nEwqeadcTa
— Semafor (@semafor) April 23, 2025
Griffin added that using the euro as a reference, the U.S. “has become 20 percent poorer in four weeks.”
He said the whiplash from Trump’s sweeping “Liberation Day” tariffs earlier this month led investors to dump U.S. Treasuries, once seen as a safe bet investment. Threats to remove Federal Reserve chairman Jerome Powell didn’t help either, and the dollar weakened against other currencies as a result.
“In the financial markets, no brand compared to the brand of the U.S. Treasuries—the strength of the U.S. dollar, the creditworthiness of U.S. Treasuries. No brand came close. We put that brand at risk,” Griffin warned. “It can take a very long time to remove the tarnish on a brand.”
The billionaire, who donated over $100 million to conservative PACs and funds in the lead up to the 2024 election, was speaking at the World Economy Summit in Washington, DC. Wednesday.
He said Trump’s economic policy has “eroded” faith in the American “brand” overall.
“The United States is more than just a nation; it’s a universal brand, whether it’s our culture, our financial strength, our military strength,” Griffin said during the onstage interview.
“America rose beyond just being a country. It was like an aspiration for most of the world, and we’re eroding that brand right now.”
The billionaire hedge fund manager warned: “It can be a lifetime to repair the damage that has been done.”
Griffin noted that he agrees with the administration’s overarching aims. The problem, he said, is the methods used to achieve those goals.
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