In an unprecedented financial downturn, the world’s 500 wealthiest individuals have collectively lost approximately $536 billion over two days, marking the largest decline ever recorded by the Bloomberg Billionaires Index. This significant drop occurred between the opening of the U.S. stock market on Thursday and its close on Friday, as reported by Bloomberg.
The market upheaval was triggered by President Donald Trump’s recent announcement of sweeping tariffs, which led to a 10.5% decline in the S&P 500 and an 11.4% drop in the Nasdaq Composite over the same period.
Tesla CEO Elon Musk experienced the most substantial individual loss, with his net worth decreasing by $31 billion, bringing his total losses for the year to $130 billion. Meta’s Mark Zuckerberg and Amazon’s Jeff Bezos also faced significant setbacks, losing $27 billion and $16 billion, respectively.
This financial turbulence underscores the profound impact of recent policy decisions on global markets and the fortunes of the world’s wealthiest individuals.
