The world's 500 richest people lost $208 billion in a single day..!?

In one of the sharpest declines in global wealth, the world's 500 richest people lost a combined $208 billion in assets in a single day after US President donald trump announced a reciprocal tax on april 2 in an "Emancipation Day" proclamation, Bloomberg reported. Trump's move, which caused great confusion in global markets, has caused the Bloomberg Billionaires Index to suffer its fourth-largest single-day decline in its history. This is the biggest decline since the peak of the Corona pandemic. Most of the billionaires who were hit hard by this decline are from the United States. In this, the leading rich people who run technology and business world empires, including amazon founder Jeff Bezos, tesla chairman Elon Musk, and facebook founder Mark Zuckerberg, suffered the most losses. According to Bloomberg, amazon founder Jeff Bezos' shares fell by 9 percent, which is the biggest drop in amazon since april 2022. With this fall, he lost $ 15.9 billion in his personal wealth.
At the same time, Elon Musk, who currently serves as a close advisor to US President donald trump, lost $ 11 billion in assets as tesla shares fell by 5.5 percent. Both of them are among the biggest losers in this row, and this is a direct result of Trump's announcement of imposing taxes and its subsequent market tension. Similarly, some other billionaires from the united states also suffered huge losses due to this market decline. According to a report published by Bloomberg, Michael dell lost $9.53 billion, Oracle founder larry ellison $8.1 billion, NVIDIA CEO Jensen Huang $7.36 billion, google co-founder larry page $4.79 billion, google co-founder Sergey Brin $4.46 billion, and Interactive Brokers founder Thomas Peter Feiner $4.06 billion. Since many of them are from the technology sector, it is said that the sector has been hit hard by Trump's tax war announcement.

However, the biggest loser in this list is Mark Zuckerberg, the founder of facebook and Meta. His net worth fell by 9 percent in a single day, which is considered a very rare decline. As a result, he lost a total of $17.9 billion in wealth, the largest single-day loss in his history. Many wealthy people outside the united states also suffered inevitable losses due to Trump's tax announcement. Zhang Kangyuan, founder of Chinese footwear manufacturer Huali Industrial Group Co., lost $1.2 billion in a single day. This is a 13% drop in personal wealth. Similarly, Bernard Arnault, chairman of LVMH (Louis Vuitton, Moet & Hennessy) Group, lost $6 billion. Toby Ludtke, co-founder and CEO of Canadian company Shopify, lost $1.5 billion, or 17% of his wealth.
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Sowmiya Sriram

06/04/2025 11:03 AM