Guess, now there’s a term like ‘biggest billionaire loser’!
Turns out, you might have to take a very hefty hit even if Donald Trump is your ‘friend’.
The Trump tariffs, after being announced by US President Donald Trump on April 2, which swept countries and sent shockwaves across global markets, have come at a cost to the world’s richest billionaires like Jeff Bezos, Elon Musk, and Mark Zuckerberg. The latest wave of tariffs sparked a financial storm, leading to one of the worst market meltdowns since the pandemic era.
Causing a plummet in the global markets, the Bloomberg Billionaires Index saw its fourth-largest one-day decline in history, and the largest since the height of the COVID-19 pandemic.
Most of the billionaires who were hard hit were from America itself.
The landslide erased hundreds of billions in wealth of the richest people in the world, in fact, not sparing Trump’s close aides like Elon Musk.
However, one billionaire took the biggest hit and lost the most.
Who is it?
Read on to know.
Elon Musk
Turns out, even the President’s friendship can’t save you from going under the bus! Tesla CEO and DOGE leader, and one of Trump’s closest ‘buddies’, Elon Musk, lost $11 billion on Thursday, as his car company’s shares fell 5.5% following Trump tariff announcements.
Jeff Bezos
Billionaire boy has his wedding in a few months, and fate doesn’t seem to be any kinder! Jeff Bezos was the next biggest loser on the list, losing $15.9 billion in wealth after Amazon shares plunged 9% on Thursday, marking their biggest drop since 2022.
Mark Zuckerberg
The ‘social network’ guy takes the biggest hit of all! Meta founder Mark Zuckerberg was the biggest loser in dollar terms, with the social media company’s 9% slide costing its chief executive officer $17.9 billion, or around 9% of his wealth.
The billionaire losers!
As per a report by Bloomberg, the world’s 500 richest people saw their combined wealth decline by $208 billion on Thursday as the tariffs announced by President Donald Trump sent global markets into a shock.
The combined wealth decline of $208 billion marks the fourth-largest single-day drop since Bloomberg began tracking billionaire fortunes 13 years ago — and the worst since the pandemic-induced market crash.
US billionaires lost most wealth, with nine out of the top 10 losers being from America. More than half of those tracked by Bloomberg’s wealth index saw their fortunes tumble, with an average decline of 3.3%.
Here is a list of the top 10 billionaires who emerged as the biggest losers after Trump tariff announcement, according to Bloomberg Billionaires Index on April 4.
