Billionaires Lose $370B Amid Trump’s Tariffs

Business 8 April 2025 23:55

As US President Donald Trump's tariffs continue to stir global markets, nine of the world's ten richest individuals have lost a combined $370 billion in wealth since the start of 2025. Trump's protectionist policies have raised global uncertainty, while retaliatory measures from other countries have heightened fears of escalating trade wars, CE Report quotes Anadolu Agency

Countries like China, Vietnam, and Taiwan, which are key manufacturing hubs, have been particularly affected, with tariffs undermining the benefits of their low-cost labor and logistics. This has led to significant losses among tech moguls, especially as products like chips face higher tariffs.

Elon Musk, Tesla’s owner and major Trump donor, saw a staggering $135 billion drop in his fortune, though he remains the world’s richest person. Other tech billionaires, including Larry Ellison, Jeff Bezos, Larry Page, Sergey Brin, and Mark Zuckerberg, also suffered heavy losses. Meanwhile, Warren Buffet saw his wealth grow by $11.5 billion, cementing his position as the world’s fourth-richest individual.

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Billionaires Lose $370B Amid Trump’s Tariffs

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