The richest people in the world lost more than a combined $200bn on Thursday when stock markets cratered in response to tariffs slapped on imports to the US by Donald Trump.
Just over a month ago, a gradual downturn in the stock market meant that 10 tech-focused US billionaires had lost a similar value across the course of 2025 – but this time, a sharper shock wiped out that sum in one trading session.
Bloomberg’s Billionaires Index (BBI) tracks the fortunes and combined wealth of those whose assets tally at least a 10-figure sum, with the richest 13 on that list currently worth a minimum of $100bn (£77bn) each.
However, Thursday’s global stock markets fall saw the group’s combined wealth drop by $208bn, with an average decline of more than 3 per cent apiece, Bloomberg said.
Topping the list was Meta CEO Mark Zuckerberg after the share price of the social media company plunged by 9 per cent. It equated to a drop of $17.9bn in his wealth, though he remains in third place on the BBI with a net worth of $189bn.
Amazon owner Jeff Bezos and Tesla owner Elon Musk saw $15.9bn and $11bn wiped from their fortunes respectively. Musk’s wealth has now dropped by $110bn this year, Bloomberg noted.
Billionaires outside the US also saw portions of their wealth evaporate.
German Tobias Lutke (Shopify), Frenchman Bernard Arnault ( LVMH) and Taiwanese Zhang Congyuan (Huali Industrial) all took a beating in the stock market plunge. Arnault ended the day $6bn poorer.
Microsoft founder Bill Gates had the best day among the world’s 10 richest people. His fortune dropped $291m. The rest of the top 10 all lost at least $2bn.
Mexico’s richest man Carlos Slim – 18th on the BBI with an $85bn fortune – bucked the trend and actually increased his wealth on Thursday.
The Grupo Carso owner benefited from his nation being exempt from additional tariffs and a rebalancing in the currency markets as the dollar weakened.
With stocks down again on Friday as investors and businesses further digest the tariffs, the world’s wealthiest can expect further losses in the days ahead.
