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The combined wealth decline of $208 billion marks the fourth-largest single-day drop since Bloomberg began tracking billionaire fortunes 13 years ago — and the worst since the pandemic-induced market crash.
The Dow Jones Industrial Average on Thursday dropped 1,679 points, and the Nasdaq composite sank 6 per cent after reciprocal tariffs announcement by US President Donald Trump.
The latest wave of tariffs announced by US President Donald Trump on April 2 has sparked a financial storm, leading to one of the worst market meltdowns since the pandemic era. On Thursday, a single trading session erased a staggering $208 billion from the fortunes of the world’s richest individuals, as per Bloomberg Billionaire Index.
At the forefront of this wealth erosion was Meta CEO Mark Zuckerberg, who saw $17.9 billion vanish from his net worth after Meta shares plunged 9%. Close behind was Amazon founder Jeff Bezos, losing $15.9 billion in the biggest drop in Amazon’s stock since 2022.
Elon Musk, Tesla CEO and known associate of Trump through his advisory roles and alignment with some federal departments such as DOGE, was third on the list. He lost $11 billion as Tesla shares tumbled by 5.5%, rattled by investor panic post the tariff announcement.
| Rank | Name | Total Wealth | Wealth Lost |
|---|---|---|---|
| 1 | Mark Zuckerberg | $189 Billion | $17.9 Billion |
| 2 | Jeff Bezos | $201 Billion | $15.9 Billion |
| 3 | Elon Musk | $322 Billion | $11 Billion |
| 4 | Michael Dell | $92.1 Billion | $9.53 Billion |
| 5 | Larry Ellison | $160 Billion | $8.10 Billion |
| 6 | Jensen Huang | $89.6 Billion | $7.36 Billion |
| 7 | Bernard Arnault | $163 Billion | $6.22 Billion |
| 8 | Larry Page | $138 Billion | $4.79 Billion |
| 9 | Sergey Brin | $130 Billion | $4.46 Billion |
| 10 | Thomas Peterffy | $49.4 Billion | $4.06 Billion |
The combined wealth decline of $208 billion marks the fourth-largest single-day drop since Bloomberg began tracking billionaire fortunes 13 years ago — and the worst since the pandemic-induced market crash.
US billionaires bore the brunt of the sell-off, with nine of the top 10 wealth losers hailing from America. On average, fortunes fell by 3.3% across the board, leaving even Trump’s allies — like Musk — with staggering financial bruises.
On Thursday, the S&P 500 fell 4.8 per cent, more than other major stock markets. The Dow Jones Industrial Average dropped 1,679 points, and the Nasdaq composite sank 6 per cent. Little was spared as fear flared globally about the potentially toxic mix of weakening economic growth and higher inflation that tariffs can create. Everything from crude oil to Big Tech stocks to the value of the US dollar against other currencies fell. Even gold pulled lower.
