Billionaires lose $ 208 billion in wealth in connection with the Trump tariff program

The combined wealth of 500 richest people in the world fell by $ 208 billion after the announcement by President Donald Trump with wide tariffs focused on dozens of nations.

Mark Zuckerberg and Jeff Bezos amongst As reported, the highest American billionaires reached the most difficult on April 3, and their fortune dropped by a median of three.3%. The decrease means the fourth largest one-day decline in the 13-year history of the Bloomberg billionaire indicator-the most vital from the top of the Covid-19 pandemic.

Zuckerberg accepted the biggest hit, losing $ 17.9 billion – or about 9% of its net value – a 9% decrease in meta. Bezos was not far behind, dropping $ 15.9 billion, because Amazon shares fell by 9%, which suggests their most rapid decline since April 2022.

Elon Musk, who saw his net value by $ 110 billion this 12 months, lost one other $ 11 billion on April 4, when Tesla’s shares were still falling, powered by poor supply numbers and growing controversies regarding his role, leading the performance of Trump’s government (Doge).

The markets were sent In disarray after Trump announced wide global tariffs, increasing the fears of a possible trade war and an upcoming recession. S&P 500 dropped by 4.84%to shut to five 396.52, pushing him back on the correction territory and marking its worst one-day decrease from June 2020. The industrial average Dow Jones dropped 1 679.39 points, i.e. 3.98%to finish at 40 545.93-get his most violent decline.

Meanwhile, the composite with the NASDAQ composite dropped by 5.97% to 16,550.61, affected by its largest one -day loss since March 2020. Sales were widespread, and over 400 S&P 500 corporations ended the day red.

Some achieved profit, including the richest man of Mexico, Carlos Slim, who was one in every of the few billionaires outside the US to avoid rainfall from tariffs. His fortune increased by about 4% to $ 85.5 billion after Mexico was omitted from the list of mutual tariff goals in the White House. The Middle East was the only region in which individuals in the Bloomberg wealth index managed to publish net profits on a given day.

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