Trump buddy Elon Musk among biggest losers after reciprocal tariff news, richest 500 lose $208 bn. Who lost the most? | Company Business News

Donald Trump’s aide and DOGE leader Elon Musk was in the third position on a list of billionaires who lost wealth after the president’s tariff announcements, while Meta CEO Mark Zuckerberg led the parade.

The Trump tariffs, which swept countries and sent shockwaves across global markets after being announced on April 2, have come at a cost to the world’s richest billionaires.

A bloodbath in the US markets on Thursday, the worst since the Covid-19 pandemic, erased hundreds of billions in wealth of the richest people in the world, not sparing Trump’s aides like Elon Musk.

Mark Zuckerberg, Jeff Bezos, Elon Musk lose big

Billionaires in the US were the hardest hit in Bloomberg Billionaires Index as of April 4, before American stock markets opened.

Meta founder Mark Zuckerberg was the biggest loser in dollar terms, with the social media company’s 9 per cent slide costing its chief executive officer $17.9 billion, or around 9 per cent of his wealth.

Jeff Bezos was the next biggest loser on the list, losing $15.9 billion in wealth after Amazon shares plunged 9 per cent on Thursday marking their biggest drop since 2022.

Tesla CEO and DOGE leader Elon Musk lost $11 billion on Thursday, as his car company’s shares fell 5.5 per cent following Trump tariff announcements.

Trump tariffs: Top 10 billionaires who lost most wealth

Here is a list of the top 10 billionaires who emerged as the biggest losers after Trump tariff announcement, according to Bloomberg Billionaires Index on April 4.

Billionaires lose $208 billion in a day

As per a report by Bloomberg, the world’s 500 richest people saw their combined wealth decline by $208 billion on Thursday as the tariffs announced by President Donald Trump sent global markets into a shock.

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.

US billionaires lost most wealth, with nine out of the top 10 losers being from America. More than half of those tracked by Bloomberg’s wealth index saw their fortunes tumble, with an average decline of 3.3 per cent.