Trump tariffs trigger $208 billion loss for billionaires in one day
On April 3, the world’s 500 richest individuals saw their collective wealth plummet by $208 billion, triggered by broad tariffs announced by President Donald Trump, which sent global markets into a sharp decline.
The drop is 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, News.Az reports, citing Bloomberg.
More than half of those tracked by Bloomberg’s wealth index saw their fortunes tumble, with an average decline of 3.3%. Billionaires in the US were among the hardest hit, with Meta Platforms Inc.’s Mark Zuckerberg and Amazon.com Inc.’s Jeff Bezos leading the way.
Carlos Slim, Mexico’s richest man, was among a small group of billionaires outside the US who escaped the tariffs’ impact.
The Mexican Bolsa rose 0.5% after the country was excluded from the White House’s list of reciprocal tariff targets, pushing Slim’s net worth up by about 4% to $85.5 billion.
The Middle East was the only region where those on Bloomberg’s wealth index eked out net gains for the day.
Similar news
