{"id":2720,"date":"2025-04-04T18:06:04","date_gmt":"2025-04-04T18:06:04","guid":{"rendered":"https:\/\/ipp-news.com\/?p=2720"},"modified":"2025-04-04T18:06:04","modified_gmt":"2025-04-04T18:06:04","slug":"zuckerberg-bezos-musk-lose-billions-as-trump-tariffs-hit","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=2720","title":{"rendered":"Zuckerberg, Bezos, Musk lose billions as Trump tariffs hit"},"content":{"rendered":"
The combined wealth of the world’s 500 richest individuals plummeted by $208 billion on Thursday, following a sharp market downturn triggered by the announcement of broad tariffs by US President Donald Trump.<\/p>\n

The decline marked the fourth-largest one-day drop in the history of the Bloomberg Billionaires Index, and the largest since the height of the COVID-19 pandemic.<\/p>\n

More than half of the billionaires tracked by the index saw their fortunes shrink, with the average loss standing at 3.3%. US billionaires were among the hardest hit, with notable losses recorded by Meta\u2019s Mark Zuckerberg and Amazon\u2019s Jeff Bezos.<\/p>\n

However, a small number of billionaires outside the US managed to escape the negative impact of the tariffs. Mexico\u2019s richest man, Carlos Slim, saw his wealth rise by 4%, after the Mexican Bolsa gained 0.5% due to Mexico being excluded from the list of US tariff targets.<\/p>\n

The Middle East was the only region where the wealth index saw net gains for the day, as some individuals there managed to weather the storm.<\/p>\n

Mark Zuckerberg<\/p>\n

The Meta Platforms CEO suffered the largest dollar loss, as the company\u2019s shares dropped by 9%, eroding $17.9 billion, or roughly 9% of his fortune. Meta\u2019s stock had surged earlier in the year, but the recent slump, dropping 28% from its February peak, hit Zuckerberg hard.<\/p>\n

Jeff Bezos<\/p>\n

Amazon shares fell by 9%, marking their biggest drop since April 2022, taking $15.9 billion off Bezos\u2019 wealth. The company\u2019s stock has fallen over 25% from its February peak.<\/p>\n

Elon Musk<\/p>\n

Tesla CEO Elon Musk, already reeling from a $110 billion loss this year, saw his net worth drop by another $11 billion on Thursday. Despite previous optimism regarding US tariffs, Tesla\u2019s stock fell by 5.5% as the broader market sell-off intensified.<\/p>\n

Ernest Garcia III<\/p>\n

The Carvana Co. CEO\u2019s wealth plummeted by $1.4 billion after the company\u2019s stock lost 20%. Despite a 425% surge over the past year, the stock has since fallen by 36%.<\/p>\n

Tobi Lutke<\/p>\n

Shopify\u2019s CEO lost $1.5 billion, or 17% of his wealth, as the company\u2019s shares plunged 20%. Shopify, which relies heavily on the import of goods, suffered along with the broader market, which saw its worst day since March 2020.<\/p>\n

Bernard Arnault<\/p>\n

The European Union braces for a 20% tariff on all products bound for the US, with sectors like alcohol and luxury goods expected to be hit hard. Arnault\u2019s LVMH saw a sharp drop in shares, wiping $6 billion from his net worth.<\/p>\n

Zhang Congyuan<\/p>\n

The founder of Chinese shoemaker Huali Industrial Group Co. lost $1.2 billion, or 13% of his fortune, as Trump\u2019s additional 34% tariff on China sent the company\u2019s stock into freefall. Other footwear manufacturers, including Nike, Lululemon, and Adidas, also saw significant losses.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The combined wealth of the world’s 500 richest individuals plummeted by $208 billion on Thursday, following a sharp market downturn triggered by the announcement of broad tariffs by US President Donald Trump. The decline marked the fourth-largest one-day drop in the history of the Bloomberg Billionaires Index, and the largest since the height of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2720","post","type-post","status-publish","format-standard","hentry","category-english-news"],"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/2720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2720"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/2720\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}