Mark Zuckerberg lost over $17 billion, Bezos’ wealth dropped by more than $15 billion and Musk’s by $11 billion
The world’s richest 500 people saw their collective wealth plunge by $208 billion (£160 billion) yesterday as broad tariffs announced by President Donald Trump sent stocks plummeting.
On Wednesday, Trump imposed tariffs on individual countries ranging from 10% to 50% which will apply to goods imported into the US.
According to Bloomberg’s Billionaires index, billionaires’ wealth dropped by an average of 3.3% yesterday.
Billionaires in the US were among the hardest hit, with major losses reported for Meta’s Mark Zuckerberg and Amazon’s Jeff Bezos, Bloomberg said.
Zuckerberg lost more money than anyone else, with his fortune dropping by $17.9 billion (£13.8 billion), about 9% of his total wealth, after Meta’s shares fell by 9%.
Amazon shares also tumbled 9% yesterday, their biggest drop since April 2022, costing Jeff Bezos $15.9 billion (£12.2 billion) in personal wealth.
While Tesla appeared less vulnerable to the tariffs, as many of its cars are manufactured in the US, its shares still dropped by 5.5% after the tariffs were announced yesterday.
Musk has lost $110 billion so far this year, including $11 billion (£8.5 billion) on Thursday.
Tesla sales have plummeted to their lowest level in three years, with a backlash against his government cuts as head of the Department of Government Efficiency (DOGE) cited as the cause.
Last week, The European Automobile Manufacturers’ Association (ACEA) revealed Tesla saw a 40% year-over-year drop in new vehicle registrations in Europe in February.
Olivia Barber is a reporter at Left Foot Forward
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