The global economy faced a seismic shock this week as President Donald Trump’s newly announced tariffs sent markets into a tailspin, wiping billions from the fortunes of some of the world’s wealthiest individuals. Mark Zuckerberg, Jeff Bezos, and Elon Musk — the wealthiest trio on Earth — collectively lost over $81 billion in just two days, according to Bloomberg’s Billionaires Index.
The Announcement That Rocked Wall Street
On Wednesday, April 5, President Trump unveiled sweeping tariffs, including a baseline 10% import tax on goods from all countries and significantly higher rates on imports from specific regions. Countries like China, India, and Taiwan were hit the hardest, with tariff rates reaching as high as 54% for China, 32% for Taiwan, and 26% for India. This triggered immediate panic in the stock market, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite plunging over 5% each by Friday.
The tech industry — heavily reliant on global supply chains for manufacturing and IT services — bore the brunt of the sell-off. As a result, shares of Tesla, Amazon, and Meta plummeted, significantly cutting into the net worth of their respective founders.
The Billion-Dollar Losses
The damage to the net worth of these tech titans is unprecedented:
Elon Musk: The Tesla CEO and current senior advisor to the Trump administration saw the largest personal loss. Musk’s fortune dropped by $30.9 billion in two days, contributing to a staggering $130 billion hit to his wealth in 2025 so far. Tesla’s disappointing Q1 sales — down 13% year-over-year — only added to the downward pressure. Musk’s current net worth stands at $302 billion, still making him the richest person in the world.
Mark Zuckerberg: The Meta founder lost $27.34 billion as tech stocks suffered due to fears of declining advertising revenue amid a slowing economy. Zuckerberg’s net worth is now estimated at $179 billion.
Jeff Bezos: The Amazon founder and former CEO saw his wealth shrink by $23.49 billion, bringing his net worth to $193 billion. Like Meta, Amazon’s business model depends heavily on global trade and consumer spending, both of which could face headwinds due to the tariffs.
Collectively, the world’s 500 richest people saw the largest two-day loss ever recorded by Bloomberg’s Billionaires Index, underscoring the broad impact of Trump’s economic policies.
Winners Amid the Chaos
Not all billionaires were losers during the market meltdown. Dan Gilbert, co-founder of Rocket Mortgage and owner of the Cleveland Cavaliers, gained $1.91 billion on Friday, raising his net worth to $32.4 billion. Mexican billionaire Carlos Slim also saw a temporary gain of $2.9 billion on Thursday, though he lost $5.48 billion by Friday as markets continued to react to the tariffs.
The Broader Economic Impact
The newly imposed tariffs are expected to have a ripple effect on the global economy. The tech sector, already grappling with challenges like rising production costs and supply chain disruptions, is now facing even greater uncertainty. Additionally, a potential slowdown in U.S. economic growth could hurt advertising revenues for companies like Meta and Amazon, further exacerbating their financial troubles.
According to CNBC’s Investing Club, the tariffs could also drive up prices for consumer goods, putting more pressure on American households and small businesses. While President Trump has left the door open for renegotiating tariff rates with key trading partners, White House aides have indicated that the administration is prepared for a prolonged economic standoff.
Carlos Slim on Trump’s Strategy
Carlos Slim, whose wealth primarily comes from Grupo Carso and América Móvil, predicted that Trump’s tariffs are a temporary tactic aimed at securing better trade deals. “The U.S. doesn’t have any other alternative than changing how it does things,” Slim told Bloomberg in an interview earlier this week.
Trump’s willingness to negotiate suggests that the tariffs may eventually be reduced, but for now, the impact on global markets and billionaire fortunes is undeniable.
A Year of Challenges for Musk, Bezos, and Zuckerberg
For Musk, Bezos, and Zuckerberg, the market meltdown is just the latest in a series of challenges this year. Tesla’s declining sales, Meta’s struggles with advertising, and Amazon’s reliance on global trade have all highlighted the vulnerabilities of even the largest tech giants in the face of geopolitical and economic turbulence.
While Musk remains far ahead of Bezos and Zuckerberg in terms of net worth, his $130 billion year-to-date loss serves as a stark reminder of how quickly fortunes can change in today’s volatile markets.
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