The world’s top 10 richest people saw $74 billion vanish on paper after Trump’s tariffs.
· Trump’s tariffs triggered a huge market sell-off.
· Musk lost $11 billion and Bezos nearly $16 billion, per the Bloomberg Billionaire Index.
The world’s top 10 richest people saw $74 billion vanish on paper after this week’s market rout, according to the Bloomberg Billionaires Index.
President Donald Trump’s sweeping tariffs on Wednesday afternoon triggered market chaos. Stocks suffered their worst single-day loss in five years on Thursday. The S&P 500 dropped nearly 5%, the Dow lost 1,679 points, and the Nasdaq composite plunged 6%.
Here’s how much the wealthiest have lost since the tariff announcement and how it compares to their net worth, per Bloomberg:
Elon Musk -$11.0 billion ( -2.5%)
Elon Musk has seen his net worth fluctuate wildly over the past several weeks, as his involvement with the White House DOGE office has drawn public ire and boycotts against Tesla, sending Tesla’s stock down.
Musk’s wealth largely comes from his stake in Tesla, but he is also the CEO of X/Twitter, Neuralink, the Boring Company, and SpaceX. He’s worth $322 billion, per the Bloomberg Billionaires Index, making him the world’s richest person.
Jeff Bezos -$15.9 billion ( -6.7%)
Bezos is the founder and executive chairman of Amazon, and he is worth $201 billion. He also owns The Washington Post, which he purchased in 2013. Bezos stepped down as Amazon’s CEO in 2021.
Mark Zuckerberg -$17.9 billion ( -8.6%)
Mark Zuckerberg has been facing criticism over rolling back fact-checking on Meta platforms, including Facebook, Threads, and Instagram, and replacing that with “community notes.”
Zuckerberg is the cofounder, chairman, and CEO of Meta, putting him at a net worth of $189 billion.
Warren Buffet -$2.57 billion ( -1.8%)
Warren Buffett, with a net worth of $165 billion, is the chairman and CEO of Berkshire Hathaway, a multinational conglomerate holding company. Through Berkshire, Buffett owns a wide range of businesses, including GEICO, BNSF Railway, and Dairy Queen.
Berkshire Hathaway’s largest holding is Apple, which makes up around 20% of its portfolio.
Bernard Arnault-$6.22 billion ( -3.5%)
Bernard Arnault is the chairman and CEO of LVMH, the world’s largest luxury goods conglomerate. The majority of his $163 billion comes from his stake in LVMH, which owns over 75 brands across fashion, cosmetics, jewelry, and spirits, including Louis Vuitton, Dior, and Moët & Chandon.
LVMH has been reporting declining sales under dampened consumer sentiments in multiple countries.
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