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Billionaires Elon Musk, Jeff Bezos, others lose USD 208 billion after Trump's tariff announcement; Who lost most money?
This marks the fourth biggest single-day plunge in the 13-year history of Bloomberg's Billionaires Index, and the largest since the Covid-19 pandemic peaked in early 2022. The most affected billionaires on the Bloomberg list were those from the US.
Updated : Apr 04, 2025, 04:48 PM IST
 "Trump has announced reciprocal tariffs on nations around the world, with rates going as high as 50 percent.")
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The 500 richest people in the world saw a massive tumble in their combined wealth of nearly USD 208 billion -- one of the biggest drops in global fortunes -- in the aftermath of the announcement of reciprocal tariffs by United States President Donald Trump.
This marks the fourth biggest single-day plunge in the 13-year history of Bloomberg's Billionaires Index, and the largest since the Covid-19 pandemic peaked in early 2022.
The most affected billionaires on the Bloomberg list were those from the US.
The hardest hit
The worst-hit of all billionaires was Meta owner and Facebook founder Mark Zuckerberg, who lost USD 17.9 billion or 9% of his total wealth after the tariffs announcement.
Amazon founder Jeff Bezos was also badly hit. He lost USD 15.9 billion in personal wealth after his company's shares fell by 9 percent.
Trump's close aide and the world's richest person Elon Musk lost USD 11 billion as his electric vehicle company Tesla's shares dropped 5.5 percent.
Others who lost
Among other billionaires who lost massive chunks of their wealth were Michael Dell (he lost USD 9.53 billion), Larry Ellison (USD 8.1 billion), Jensen Huang (USD 7.36 billion), Larry Page (USD 4.79 billion), Sergey Brin (USD 4.46 billion) and Thomas Peterffy (USD 4.06 billion).
The only billionaire from outside the US who saw a significant plunge in personal wealth was France's Bernard Arnault -- the chairman of the fashion giant LVMH. Arnault lost USD 6 billion of his personal wealth.
Trump has announced reciprocal tariffs on nations around the world, with rates going as high as 50 percent. India is set to face a 27% tariff on exporting goods to the US.
