Trump's tariffs push his supporters away: Dave Portnoy and Adin Ross lose millions, Ken Langone fumes

Donald Trump’s tariff policy, advocating for significant import taxes, is reportedly causing a notable division within the U.S. President’s traditional base of support. Several prominent figures, previously considered staunch allies, are expressing strong opposition and experiencing financial repercussions.

Portnoy and Ross Feel the Pinch

Dave Portnoy, the founder of ‘Barstool Sports’, and online streamer Adin Ross have reportedly faced considerable financial losses in recent weeks. Portnoy estimates he has lost $20 million after the stock market crash. According to Bloomberg, these losses are allegedly linked to heightened market anxieties surrounding the implementation of these tariffs.

Their public commentary on social media platforms, including X and live streams, has reportedly undergone a noticeable shift. A more critical tone has emerged regarding the proposed economic policies, with both expressing concern about potential market volatility and the impact on their respective investment portfolios.

Langone Voices Vehement Opposition

Adding to the growing chorus of discontent is Home Depot co-founder and prominent Republican donor, Ken Langone. He expressed strong disapproval of the proposed tariffs in a recent appearance on CNBC on April 7, calling the 46% import duties on Vietnam “bulls**t” and describing the 34% tariff rate on China as “too aggressive, too soon.”

According to The Wall Street Journal, sources close to Langone suggest he is deeply concerned about the potential economic damage he believes these policies could inflict, potentially jeopardizing investments and overall market stability.

Langone’s public statements have become increasingly critical, signaling a potential break with Trump on this critical economic issue, with Langone stating, “This is not the way to run an economy.”

Also Read: Trump tariffs to soon impact American consumers: Which products will run dry?

Broader Concerns Emerge

The backlash from these public figures underscores a wider unease within the business and investment sectors regarding the implications of broad-based tariffs. Economic analyses, such as those conducted by the Peterson Institute for International Economics, suggest potential negative consequences, including the possibility of a “global trade war.”