NEW YORK: The world’s 500 richest people lost a jaw-dropping $208 billion in a single day after Donald Trump’s surprise tariffs sent global markets spiralling into chaos. But while billionaires worldwide took a beating, the Middle East quietly made gains, becoming the only region where some ultra-rich actually ended the day richer.
More than half of those tracked by Bloomberg’s Wealth Index saw their fortunes shrink, with an average drop of 3.3%. The worst-hit were US tech moguls, especially Mark Zuckerberg and Jeff Bezos, who led the losses.
Amazon shares tumbled 9% on Thursday—its worst single-day performance since April 2022—wiping out $15.9 billion from Bezos’ net worth. The stock has now fallen over 25% since February, dragging the tech titan’s fortune along with it.
Meanwhile, Elon Musk—already having a rough year—saw $11 billion disappear in just one day, bringing his 2025 losses to $110 billion so far. Sluggish Tesla deliveries and his controversial new role as Trump’s efficiency czar haven’t helped his image—or his shares.
Across the Atlantic, Europe’s richest man Bernard Arnault also took a hit, losing $6 billion as his luxury empire LVMH felt the sting of an impending 20% tariff on EU exports. Shares fell sharply in Paris amid fears for high-end exports like alcohol and fashion.
But it wasn’t bad news everywhere. Mexico’s Carlos Slim bucked the trend, gaining 4%—roughly $3.3 billion—after Mexico was spared from Trump’s new tariff list. The Mexican stock exchange even rose 0.5%, giving Slim a rare win on a very bad day.
