Trump’s tariffs defraud billionaire, How much loss did Musk and Zuckerberg have to suffer?

New Delhi| After US President Donald Trump announced new retaliatory tariffs, markets around the world fell sharply. This also affected the wealth of billionaires. The world’s 500 richest people have lost a combined $536 billion between Thursday (April 3) and Friday, according to the Bloomberg Billionaires Index.

The S&P 500 dropped 10.5% in just two days after Donald Trump announced the rates of the tariff, during which the Nasdaq also plunged to 11.4%. After Thursday, Friday was a particularly painful day for the global market. The market suffered a loss of about $329 billion on this day. This is the biggest single-day fall since the COVID-19 pandemic. Nearly 90% of billionaires’ wealth has declined amid the market crash, and each has suffered an average of 3.5% during this time, Bloomberg reports.

How much did the wealth of Musk and Zuckerberg decrease?
Elon Musk, the US President’s special and the world’s richest person, is at number one in the list of those who suffered the most losses after Trump’s announcement of tariffs. Tesla shares fell more than 10% on Friday alone, reducing Musk’s net worth by $31 billion. In this way, their total deficit reached $130 billion in 2025. According to Bloomberg, Meta leader Mark Zuckerberg is also not far behind in terms of losses. His company’s shares fell by nearly 14% in just two days after the tariff was announced, reducing his net worth by $27 billion.

What is the condition of the wealth of the world’s second billionaires?
The assets of Ernest Garcia III, who operates Caravana, a used-car platform, fell by $2 billion after tariffs were announced. Caravana shares slipped as much as 28% after the tariffs were announced, and Garcia was forced off the list of the world’s 500 richest.

Shares of Nike held back by possibility of lifting 46% tariffs on Vietnam
However, it is not that every billionaire had to suffer losses after Trump’s decision. Nike co-founder Phil Knight’s wealth increased marginally. Donald Trump meanwhile said he had a ‘very productive conversation’ with Vietnam’s leader. Trump hinted at the possibility of removing 46% of tariffs on Vietnamese goods. The shoe brand then recorded a 2.8% increase in share, as Nike does most of its manufacturing in Vietnam.

Knight’s wealth was boosted by $84 million by a surge in the company’s shares. This partially compensated for the $3 billion loss in his property the day before. Mexican billionaire Carlos Slim’s wealth also showed ups and downs. Slim’s property lost $5.5 billion on Friday. The market in Mexico also fell by about 5% during this time.