A sweeping wave of financial losses has hit the world’s wealthiest individuals after U.S. President Donald Trump’s newly announced tariffs triggered intense volatility on global markets.
According to a Bloomberg report cited by Digi24, the collective net worth of the world’s 500 richest people dropped by a staggering $208 billion on Thursday alone.
This marks the fourth-largest single-day loss in the 13-year history of Bloomberg’s Billionaires Index and the steepest drop since the peak of the COVID-19 pandemic.
Tech Titans Hit Hardest
Leading the plunge was Meta CEO Mark Zuckerberg, who saw his fortune shrink by $17.9 billion as Meta shares fell 9% — a continuation of a 28% decline since mid-February.
Amazon founder Jeff Bezos followed closely, losing $15.9 billion as Amazon stock logged its worst single-day decline since April 2022.
Elon Musk, Tesla’s CEO and a central figure in the current U.S. administration, has lost $110 billion so far in 2025 — $11 billion of it on Thursday alone.
His financial troubles stem from declining EV sales globally and mounting controversy over his political involvement.
Tariffs Drive Global Ripple Effect
The U.S. tariff hike appears to have affected a wide range of sectors, from e-commerce to luxury goods. Shopify CEO Tobi Lutke lost $1.5 billion as his company’s shares dropped 20% on the Toronto Stock Exchange.
Luxury magnate Bernard Arnault, whose LVMH empire includes brands like Dior and Bulgari, saw his wealth drop by $6 billion.
Trump’s 20% tariff on EU goods — including luxury items and alcohol — contributed to a 6% fall in LVMH’s Paris-listed shares.
In contrast, Mexican billionaire Carlos Slim saw his wealth rise by 4% to $85.5 billion after Mexico was left off the White House’s tariff list.
The Mexican stock market rose 0.5%, underscoring the regional impact of U.S. trade policy shifts.
As markets adjust to the new landscape, the world’s ultra-wealthy are feeling the brunt — a rare moment when political turbulence reaches all the way to the top of the financial ladder.
