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Billionaires hit by Trump tariffs, Elon Musk is the worst hit
2025-04-04 17:43:40 / BOTA
Bloomberg reported that Tesla CEO Elon Musk lost $11 billion a day after new tariffs announced by the Donald Trump administration went into effect. Musk, a well-known friend of the US president, was among the billionaires hardest hit in the US after the new tariffs were implemented.
More than half of the people tracked by the wealth index were hit with significant losses after the tariffs were announced, according to Bloomberg data. The top 500 richest people in the world lost a combined $208 billion in one day.
Amazon founder Jeff Bezos and Meta's Mark Zuckerberg also suffered big losses. Here's what happened to some of the world's biggest billionaires:
Elon Musk: On Thursday, the day after the tariffs were announced, Musk lost $11 billion. In total, the Tesla CEO has lost $110 billion this year so far. Tesla shares fell 5.5% on Thursday.
Jeff Bezos: Amazon shares fell 9% on Thursday, costing Bezos $15.9 billion in personal wealth.
Mark Zuckerberg: Zuckerberg, the founder of Meta, has lost $17.9 billion since the new tariffs were announced, accounting for about 9% of his wealth. Since mid-February, Meta shares have fallen about 28%.
These losses are a direct result of the new tariffs imposed by the Trump administration, which have caused a significant shock to financial markets.
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