{"id":38506,"date":"2025-04-04T11:39:13","date_gmt":"2025-04-04T11:39:13","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2025\/04\/04\/trump-tariffs-trigger-208-billion-bloodbath-among-the-worlds-richest-in-a-single-day\/"},"modified":"2025-04-04T11:39:13","modified_gmt":"2025-04-04T11:39:13","slug":"trump-tariffs-trigger-208-billion-bloodbath-among-the-worlds-richest-in-a-single-day","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2025\/04\/04\/trump-tariffs-trigger-208-billion-bloodbath-among-the-worlds-richest-in-a-single-day\/","title":{"rendered":"Trump tariffs trigger $208 billion bloodbath among the world\u2019s richest in a single day"},"content":{"rendered":"
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A sweeping package of trade tariffs announced by US President Donald Trump triggered a brutal sell-off across global markets on Thursday, wiping out $208 billion from the fortunes of the world\u2019s 500 richest individuals. <\/p>\n

The shock drop marks the fourth-largest single-day decline in the Bloomberg Billionaires Index\u2019s 13-year history and the worst since markets reeled during the early stages of the Covid-19 pandemic.<\/p>\n

More than half of the billionaires tracked by Bloomberg saw their net worth shrink, with an average daily decline of 3.3%. <\/p>\n

American tech moguls bore the brunt of the losses<\/a>, with Meta Platforms Inc.\u2019s Mark Zuckerberg and Amazon founder Jeff Bezos leading the list of biggest losers. <\/p>\n

Zuckerberg, Bezos lead in losses as tech stocks nosedive<\/h2>\n

Meta founder Mark Zuckerberg recorded the steepest loss in dollar terms, with a 9% drop in the company\u2019s stock slashing his fortune by $17.9 billion\u2014roughly 9% of his total net worth. <\/p>\n

Meta had been one of the strongest performers among the so-called Magnificent Seven tech giants earlier this year, gaining over $350 billion in market value between January and mid-February. <\/p>\n

However, since then, the stock has declined by about 28%.<\/p>\n

Jeff Bezos also suffered a significant blow, losing $15.9 billion as Amazon shares fell 9%\u2014their worst drop since April 2022. <\/p>\n

The e-commerce titan\u2019s stock has now shed more than a quarter of its value since peaking two months ago, dragged down by supply chain uncertainties and heightened tariff exposure.<\/p>\n

Musk loses $11 billion amid Tesla setbacks and political scrutiny<\/h2>\n

Elon Musk saw his fortune shrink by $11 billion on Thursday, contributing to a $110 billion loss in 2025 so far. <\/p>\n

Tesla shares, which had seen a brief recovery on hopes that Musk would refocus on the automaker, dropped by 5.5% after the tariff announcement. <\/p>\n

Despite having domestic manufacturing advantages, Tesla remains vulnerable to market sentiment tied to Musk\u2019s political entanglements, especially his high-profile appointment to lead Trump\u2019s new Department of Government Efficiency.<\/p>\n

Founders of Carvana, Shopify, LVMH, and Huali also lose big <\/h2>\n

Ernest Garcia III, CEO of used-car platform Carvana, saw his wealth drop by $1.4 billion as shares plunged 20%. S<\/p>\n

Shopify\u2019s Tobi Lutke lost $1.5 billion, or 17% of his net worth, after shares in the Canadian e-commerce firm dropped 20% in Toronto. <\/p>\n

The company relies heavily on cross-border sales of imported goods, making it highly sensitive to tariff changes.<\/p>\n

Shares of LVMH, the luxury conglomerate led by Bernard Arnault and owner of brands like Christian Dior, Bulgari, and Loro Piana, declined in Paris trading, cutting $6 billion from the net worth of Europe\u2019s richest individual.<\/p>\n

Zhang Congyuan, founder of Chinese shoemaker Huali Industrial Group Co., saw his wealth shrink by $1.2 billion\u2014about 13% of his total fortune\u2014after a new 34% US tariff on Chinese goods sent the company\u2019s shares sharply lower. <\/p>\n

The impact rippled across the global footwear industry, with major brands such as Nike Inc., Lululemon Athletica Inc., and Adidas AG\u2014each heavily reliant on manufacturing in Southeast Asia\u2014posting double-digit stock declines.<\/p>\n

Winners are few, with Mexico and Middle East bucking trend<\/h2>\n

Carlos Slim, Mexico\u2019s wealthiest individual, was among the few billionaires outside the United States to benefit from the day\u2019s market turmoil. <\/p>\n

The Mexican Bolsa rose 0.5% after Mexico was left off the White House\u2019s list of countries facing reciprocal tariffs, boosting Slim\u2019s net worth by roughly 4% to $85.5 billion. <\/p>\n

The Middle East was the only other region where members of Bloomberg\u2019s wealth index posted net gains for the day.<\/p>\n

The post Trump tariffs trigger $208 billion bloodbath among the world\u2019s richest in a single day<\/a> appeared first on Invezz<\/a><\/p>\n

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A sweeping package of trade tariffs announced by US President Donald Trump triggered a brutal sell-off across global markets on Thursday, wiping out $208 billion from the fortunes of the world\u2019s 500 richest individuals. The shock drop marks the fourth-largest single-day decline in the Bloomberg Billionaires Index\u2019s 13-year history and the worst since markets reeled <\/p>\n","protected":false},"author":1,"featured_media":38507,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-38506","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"_links":{"self":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/38506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/comments?post=38506"}],"version-history":[{"count":0,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/38506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media\/38507"}],"wp:attachment":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media?parent=38506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/categories?post=38506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/tags?post=38506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}