El Presidente is down an insane amount of money after President Donald Trump’s recent tariff policies have crashed global stock markets.
Barstool Sports’ founder Dave Portnoy revealed significant financial losses in his investment portfolio as Trump’s tariffs stoke a global sell off.
Initially reporting a $7 million decline, Portnoy updated this figure during his “Davey Day Trader” livestream, estimating that he really lost around $20 million, equating to a 10 to 15 percent decrease in his net worth.
Portnoy, whose net worth is estimated at around $150 million, remarked, “I went super viral when I said I lost $7 million. I’d kill to be back to losing $7 million.”
“If I had to guess, I’m down in these last three days probably close to [$20 million],” he speculated.
Despite the insane losses, he plans to stand strong in his support for Trump.
“But I’m still here. That’s the game,” he added. “Do I like it? No. Am I crying like, ‘Oh, woe is me, I wish I voted for Kamala [Harris],’ no.”
While acknowledging the financial impact, Portnoy clarified that his comments were devoid of political motives, pointing out that, “There’s no political agenda” behind his remarks.
Though he did label the extreme market downturn as “Orange Monday,” attributing it to Trump’s tariff decisions.
Portnoy’s revelations follow his earlier admission of a $7 million loss in the “decimated” stock market, which he linked to the administration’s imposition of tariffs on imported goods globally.
PORTNOY: “I’m down $7 Million today… Trump has put his tariffs all over the place… I’ve been trying to understand them – I don’t. And everything is in the shitter because of it.” pic.twitter.com/0urs2osO9I
— The Tennessee Holler (@TheTNHoller) April 4, 2025
He admitted his struggle to comprehend the complexities of the tariff system, stating, “It’s tariff city. Trump has put his tariffs all over the place. I’ve been trying to understand them — I don’t.”
“Like it’s more a trade deficit tariff. To me, like, ‘Hey, we get this much s–t from you, and you get this much from us. Let’s even that up. Let’s get some wacky formula, do tariffs. And everything’s in the sh–ter because of it,” he added.
Despite these challenges, Portnoy has no regrets over his electoral choices, affirming, “I voted for Trump. I think he’s a smart guy.”
“I think he’s playing a high-stakes game here. I’m gonna roll with him for a couple days, a couple weeks,” he concluded. “I’m going to give Trump the benefit of the doubt.”
In a related development, Portnoy revealed that he had been offered a position within the Department of Commerce under the Trump administration.
“I got a call, I don’t know, a couple of months ago… And it was like ‘Hey, would you have any interest, Dave, in joining the Department of Commerce?'” he recalled.
I was offered a position in the government but I would’ve had to stop running Barstool to take it #DDTG pic.twitter.com/T1eNqCcPek
— Dave Portnoy (@stoolpresidente) March 11, 2025
However, the stipulation that he would have to give up his leadership role at Barstool Sports led him to decline the offer.
“You can’t run Barstool and work for the government.’ I guess Elon doesn’t have a specific title, but you kind of want your CEO with the eye on the ball,” he noted.
Portnoy said that the government never followed up on the offer, which he thought was odd.
“They’re like ‘let us know if you could find somebody to run Barstool and you’re interested in it,” he continued.
“And if you are interested, we’ll schedule a call in a week to go over the next steps.’ That never happened. It was weird.”
Meanwhile, Trump has continued to advocate for his tariff policies. During a Tuesday night address at the National Republican Congressional Committee’s annual dinner, he announced plans to introduce significant tariffs on pharmaceutical imports.
Trump stated, “We’re going to be announcing very shortly a major tariff on pharmaceuticals,” suggesting that the measures would compel foreign manufacturers to relocate production to the United States.
“We’re going to tariff our pharmaceuticals and once we do that they’re going to come rushing back into our country because we’re the big market,” he noted.
The President defended the broader tariff strategy, highlighting that the tariffs generate substantial revenue for the U.S. government and are instrumental in bolstering domestic manufacturing.
He also pointed out the financial benefits, claiming they generate $2 billion per day for the U.S. government following the recent implementation of a 10% global base tariff.
However, in the financial markets, major indexes have been extremely volatile after the tariff announcements.
The Dow took a dive by 300 points on Tuesday, after briefly rallying on potential tariff pause news. The tariff-related tanking has hit over 4,500 points thus far.