Sort of, but they also benefit from tariffs and lower regulation:

• Tesla - don’t have to cut prices if your competitors have to raise theirs; also, less regulation on cars means he can get to market faster
• SpaceX - oversight on rocket launches costs money
• xAI - slashing regulations on AI helps this new company
• Neuralink - again, regulations are a major limitation here

He is also big into cryptocurrencies, so he stands to gain there as well.

All in all, there’s a good chance he makes his $44B back by having Trump’s ear and being able to encourage certain changes over others.