Tariffs & Trade Tensions Trigger $208 Billion Wealth Wipe-out for Billionaires
As reported, Elon Musk, Jeff Bezos, and Mark Zuckerberg are among the hardest hit.
The recent tariffs announced by President Donald Trump have reportedly triggered a significant wealth wipeout for the world’s richest individuals.
The world’s 500 richest people collectively lost $208 billion in just one day, marking the fourth-largest one-day decline in the Bloomberg Billionaires Index’s history and the largest since the height of the COVID-19 pandemic.
As reported, Elon Musk, Jeff Bezos, and Mark Zuckerberg are among the hardest hit. Musk lost $30.9 billion, Bezos lost $23.49 billion, and Zuckerberg lost $27.34 billion over two days, totaling over $81 billion.
The tariffs include a baseline 10% on all imports, with higher rates up to 50% for specific countries like China, Taiwan, and India.
The tariffs led to a significant market downturn, with major indices like the Dow, S&P 500, and Nasdaq experiencing substantial declines.
Specific Losses
| Billionaire | Loss (Two Days) | Net Worth After Loss |
|---|---|---|
| Elon Musk | $30.9 billion | Approximately $302 billion |
| Jeff Bezos | $23.49 billion | Approximately $193 billion |
| Mark Zuckerberg | $27.34 billion | Approximately $179 billion |
Unlike most billionaires, Warren Buffett saw an increase in his net worth by about $11.5 billion, thanks to strategic investment decisions.
On the other hand, Mexico’s richest man also benefited as Mexico was excluded from the tariffs, leading to a rise in his net worth.
Overall, the tariffs have had a profound impact on global wealth, particularly affecting those with significant stakes in international trade and technology sectors..
