Wall Street jitters. Retirement savings at risk. Could Trump’s bold tariffs backfire politically? Even longtime supporter Dave Portnoy is raising red flags.
Dave Portnoy, the outspoken founder of Barstool Sports and one-time Trump voter, is sounding the alarm over President Trump’s aggressive new tariff policies — and the painful fallout hitting investors hard.
In a candid interview this week, Portnoy revealed he’s lost nearly $20 million in stocks and crypto since Trump declared April 2nd as “Liberation Day” and launched sweeping tariffs aimed at forcing China to the table.
“I’m not an economist,” Portnoy admitted. “But I don’t think anyone expected this level of market collapse.”
“Yeah, I’d Consider Voting Democrat” – Portnoy Issues Stunning Warning
When asked whether he’d abandon the GOP in the upcoming 2026 midterm elections if the stock market continues to tank, Portnoy didn’t hold back.
“Yeah, absolutely,” he said. “I was never some hardcore MAGA guy… but when the market looks like this and you’re invested, it’s uncomfortable.”
Trump’s Tariff War: Bold Move or Economic Gamble?
President Trump has made no apologies for his America First approach. His latest wave of tariffs targets Chinese goods, with the goal of protecting U.S. manufacturing and securing better trade terms. For millions of older Americans with 401(k)s and investment portfolios, however, the short-term pain is becoming harder to ignore.
Portnoy says he still respects the strategy:
“He said from the start he was a tariff guy. I think he’s trying to strong-arm China into a better deal, and I support that. But the economy comes first.”
Retirement Dreams at Risk? Midterms May Be the Tipping Point
Portnoy, 48, said the 2026 midterms will likely become a referendum on the economy.
“People vote with their wallets,” he said. “And if things don’t turn around by then, I think voters will speak loud and clear.”
He estimated that as much as 15% of his net worth vanished in the post-tariff market slide. That reality is all too familiar for millions of retirees and near-retirees watching their savings shrink.