Trump tariffs make billionaires lose combined $208bn in one day

As broad tariffs announced by President Donald Trump sent global markets into a tailspin, the world's 500 richest people saw their combined wealth plunge by $208 billion on Thursday, Bloomberg reported.

The drop turned out to be the fourth-largest one-day decline in the Bloomberg Billionaires Index’s 13-year history, and the largest since the height of the Covid-19 pandemic.

With an average decline of 3.3%, more than half of those tracked by Bloomberg’s wealth index saw their fortunes tumble.

US billionaires were among the hardest hit, with Meta's Mark Zuckerberg and Amazon's Jeff Bezos leading the way.

Additionally, Carlos Slim, Mexico’s richest man, was among a small group of billionaires outside the US who escaped the tariffs’ impact. 

Pushing Slim’s net worth up by about 4% to $85.5 billion, the Mexican Bolsa rose 0.5% after the country was excluded from the White House’s list of reciprocal tariff targets.

Following are some of the day’s biggest losers:

Mark Zuckerberg: With the social media company’s 9% slide costing its chief executive officer $17.9 billion, or around 9% of his wealth, the Meta founder was biggest loser in dollar terms.

Jeff Bezos: Costing the tech giant’s founder $15.9 billion in personal wealth, Amazon shares plunged 9% Thursday, their biggest drop since April 2022. The stock of company is down more than 25% from its February peak.

Elon Musk: As lagging deliveries and Musk's controversial role as Trump’s efficiency czar have hammered the electric-vehicle manufacturer’s stock, the Tesla CEO has lost $110 billion so far this year — including $11 billion on Thursday.