The announcement of reciprocal tariffs by President Donald Trump on April 2, 2025, sent tremors through global markets—resulting in one of the largest wealth declines for the world’s richest individuals since the pandemic era. A staggering $208 billion was wiped off the collective wealth of the top 500 billionaires in a single day, making it the fourth-largest daily drop ever recorded in the Bloomberg Billionaires Index.
Prominent among the top losers were U.S.-based tech giants like Mark Zuckerberg, Jeff Bezos, and Elon Musk, all of whom suffered multi-billion-dollar losses.
Market Crash Wipes Billions from Richest Americans
The stock market experienced its worst one-day fall since the COVID-19 shock, with the Nasdaq and other major indices plunging. U.S. billionaires were especially hard-hit, occupying nine out of the ten spots on the biggest losers list.
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Meta CEO Mark Zuckerberg saw his wealth drop by $17.9 billion after Meta shares fell 9%.
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Amazon founder Jeff Bezos lost $15.9 billion, following Amazon’s 9% decline—its worst since 2022.
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Tesla and SpaceX chief Elon Musk lost $11 billion as Tesla shares dipped 5.5%.
These losses reflect growing investor anxiety over the potential long-term impacts of Trump’s aggressive trade policies.
Top 10 Billionaires Who Lost the Most After Tariff Announcement
Here is the list of billionaires who suffered the largest single-day losses following the April 2, 2025 announcement:
| Rank | Name | Total Wealth ($B) | Wealth Lost ($B) |
|---|---|---|---|
| 1 | Mark Zuckerberg | 189 | 17.9 |
| 2 | Jeff Bezos | 201 | 15.9 |
| 3 | Elon Musk | 322 | 11 |
| 4 | Michael Dell | 92.1 | 9.53 |
| 5 | Larry Ellison | 160 | 8.10 |
| 6 | Jensen Huang | 89.6 | 7.36 |
| 7 | Bernard Arnault | 163 | 6.22 |
| 8 | Larry Page | 138 | 4.79 |
| 9 | Sergey Brin | 130 | 4.46 |
| 10 | Thomas Peterffy | 49.4 | 4.06 |
A Historic Loss: $208 Billion in One Day
According to Bloomberg, this dramatic wealth loss was the largest since the pandemic’s peak, affecting more than half of the top 500 billionaires tracked in the index. On average, billionaires saw their fortunes decline by 3.3%. The sell-off was primarily driven by concerns over global trade disruptions, retaliatory tariffs from countries like China, and fears of an extended trade war.
While some investors expect a short-term rebound, others believe the shock may lead to long-term policy changes, supply chain reconfigurations, and reshuffling of investments.
FAQs
Who lost the most money after the Trump tariffs were announced?
Mark Zuckerberg lost the most, with a decline of $17.9 billion, followed by Jeff Bezos and Elon Musk.
Why did Elon Musk lose $11 billion?
Tesla shares fell 5.5% after the tariff announcement, contributing to Musk’s $11 billion drop in net worth.
How much wealth did the world’s richest people lose in total?
The collective loss was $208 billion on April 4, 2025, marking one of the worst days in recent financial history for global billionaires.
Were only U.S. billionaires affected?
While billionaires around the world were impacted, nine out of the top ten losers were from the U.S., making it the hardest-hit country.
What caused this massive market drop?
President Trump’s tariff announcement on April 2 triggered fears of a global trade war, resulting in a market-wide sell-off and sharp decline in stock prices.
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Aanchal is a passionate writer with a keen interest in storytelling, content creation, and creative expression. She enjoys exploring diverse topics and crafting engaging narratives that captivate readers.