The Trump administration’s sweeping tariff announcement triggers fourth-largest single-day wealth loss in Bloomberg Billionaires Index history, with U.S. tech giants bearing the brunt.
April 4, 2025: In a historic financial blow, the world’s 500 richest people collectively lost $208 billion in a single day following President Donald Trump’s announcement of sweeping reciprocal tariffs, according to the Bloomberg Billionaires Index. This marks the fourth-largest single-day decline in the index’s 13-year history and the most significant drop since the onset of the Covid-19 pandemic.
Also Read: Canada Hits Back: PM Mark Carney Imposes 25% Tariffs on U.S. Auto Imports Amid Trade Spat
💸 Tech Titans Take the Biggest Hit
At the top of the losers list was Meta CEO Mark Zuckerberg, whose wealth plummeted by $17.9 billion—a 9% drop—after Meta shares took a beating on Wall Street. He was closely followed by:
Also Read: Global Markets Tumble as Trump Tariffs Trigger Trade War Fears, China Strikes Back
- Jeff Bezos (Amazon): Lost $15.9 billion amid Amazon’s worst stock slide since April 2022.
- Elon Musk (Tesla): Dropped $11 billion following a 5.5% fall in Tesla shares, despite being one of Trump’s known associates and advisors.
Other prominent names in the red included:
- Michael Dell – Down $9.53 billion
- Larry Ellison – Lost $8.1 billion
- Jensen Huang – Shed $7.36 billion
- Larry Page – Down $4.79 billion
- Sergey Brin – Lost $4.46 billion
- Thomas Peterffy – Dropped $4.06 billion
🌍 Global Fallout: Europe Feels the Shockwaves Too
Also Read: “They Played It Wrong, Panicked”: Trump Taunts China Amid Escalating Global Tariff War
Outside of the U.S., the most impacted billionaire was France’s Bernard Arnault, Chairman of LVMH, which owns Christian Dior, Bulgari, and Loro Piana. His net worth saw a $6 billion drop as EU-bound luxury exports faced a 20% flat tariff, prompting a selloff in LVMH shares in Paris.
🔥 Tariff Breakdown: Trump Targets Key Economies
President Trump’s new tariff regime includes:
- 54% total tariffs on Chinese goods
- 20% tariffs on all EU imports
- 24% on Japanese imports
Trump declared these measures were directed at “nations that treat us badly,” fueling fears of a global trade war and triggering a domino effect in stock markets worldwide.
📉 Market Mayhem
The billionaire wipeout comes amid:
- Dow Jones and S&P 500 plunging nearly 3%
- Nikkei down 2.8%
- European markets falling over 4%
As Trump doubled down, writing on Truth Social,
“This is a great time to get rich, richer than ever before!“
the markets told a different story, and billionaires watched billions evaporate.
With retaliatory measures likely from affected nations, experts warn that this may just be the beginning of another prolonged global economic standoff.
🏷️ Tags:
Donald Trump, global economy, billionaire wealth loss, Mark Zuckerberg, Jeff Bezos, Elon Musk, Trump tariffs, Bloomberg Billionaires Index, Meta, Amazon, Tesla, Bernard Arnault, US-China trade war, luxury goods, EU tariffs