• Meta founder Mark Zuckerberg was the biggest loser in dollar terms, with the social media giant’s 9% stock drop slashing his wealth by $17.9 billion—around 9% of his total fortune.
Global markets plunged after sweeping U.S. tariffs announced by President Donald Trump, wiping $208 billion off the collective wealth of the world’s 500 richest people, Arabic daily Al Anba reported. This marks the fourth-largest single-day drop in the 13-year history of the Bloomberg Billionaires Index—and the biggest since the COVID-19 pandemic peak.
More than half of the individuals tracked by the Bloomberg Wealth Index saw their fortunes shrink, with an average drop of 3.3%. U.S. billionaires were hit hardest, with Meta’s Mark Zuckerberg and Amazon’s Jeff Bezos suffering the biggest losses.
In contrast, Mexico’s richest man, Carlos Slim, was among the few to gain. His net worth rose by about 4% to $85.5 billion, thanks to a 0.5% rise in Mexico’s stock market after the country was excluded from U.S. tariff targets.
The Middle East stood out as the only region to record overall gains on the index that day.
Some of the biggest losers
Mark Zuckerberg: Meta founder Mark Zuckerberg was the biggest loser in dollar terms, with the social media giant’s 9% stock drop slashing his wealth by $17.9 billion—around 9% of his total fortune. Meta, which had led the so-called “Big Seven” tech stocks from the start of the year to mid-February with gains adding over $350 billion to its market cap, has since seen its shares tumble by 28%.
Jeff Bezos: Amazon’s shares plunged 9%—its steepest fall since April 2022—wiping $15.9 billion off his personal wealth. Amazon’s stock is down more than 25% since its February high.
Elon Musk: Tesla CEO Elon Musk lost $11 billion on Thursday alone, part of a staggering $110 billion drop since January. While Tesla’s U.S.-based production may shield it from tariffs, slowing deliveries and Musk’s controversial role as head of the Trump administration’s government efficiency department have weighed on shares.
Ernest Garcia III: The CEO of Carvana, whose fortune dropped $1.4 billion as the company’s shares fell 20%, reversing much of its recent 425% rally.
Tobi Lütke: The CEO of Canadian e-commerce firm Shopify, lost $1.5 billion—or 17% of his wealth—as shares slumped 20%, driven by the company’s reliance on imported goods.
Bernard Arnault: Europe’s richest man and head of luxury giant LVMH, saw his net worth fall by $6 billion. The EU’s expected 20% retaliatory tariffs are set to hit exports of luxury goods like those sold by LVMH brands such as Dior and Bulgari.
Chang Kong Yuan: The founder of Chinese shoemaker Huali Industrial, lost $1.2 billion after Trump’s 34% tariff on Chinese goods caused a sharp stock decline.
Footwear brands such as Nike, Adidas, and Lululemon—dependent on Southeast Asian manufacturing—also suffered steep losses as global investors reacted to the tariff shock.
