Donald Trump’s tariff insanity continues to wreak havoc on the equity markets, and it’s the stock portfolios of some of the world’s richest people nursing some of the heaviest losses. They, of course, are (were?) his big supporters. In Australia, they get no bigger than Gina Rinehart.

As this column revealed earlier this year, the mining magnate took a massive bet on the US stock market, loading up on shares and ETFs worth more than $2 billion. There were obvious purchases in names like Trump Media Group, Elon Musk‘s Tesla and Rupert Murdoch’s Fox Corporation, along with some major oil and gas companies.