The fortunes of the world's 500 richest people have fallen by a record amount — here's why
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Fri, 04 Apr 2025 21:04:00 +0300

US billionaires hit by Trump tariffsThis was the fourthlargest oneday decline in the 13year history of the Bloomberg Billionaires Index and the largest since the COVID19 pandemic.More than half of the billionaires on the Bloomberg list suffered losses, falling an average of 3.3.
Americans Mark Zuckerberg and Jeff Bezos suffered the most.Zuckerberg lost 17.9 billion after Meta shares fell 9, while Bezos lost 15.9 billion as Amazon shares also fell 9.
Tesla CEO Elon Musk lost 110 billion, including 11 billion on April 3 as the electric car makers shares plunged.
The companys shares fell 5.5 on Thursday after the tariffs were announced.
Carvana CEO Ernest Garcia III lost 1.4 billion after the used car retailers shares fell 20.Shopify cofounder Toby Luetke lost 1.5 billion.
Shares of the company, which makes most of its revenue from selling imported goods, fell 20 in Toronto.LVMH owner Bernard Arnault also suffered losses as his fortune was reduced by 6 billion due to the companys shares falling due to expected customs restrictions on the export of alcohol and luxury goods to the United States.
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