Bloomberg reports, citing its " Billionaires Index, " that the combined fortunes of the world's 500 richest people have fallen by $208 billion amid the backdrop of US President Donald Trump's "tariff" policy.
Over half of the people on the index have recorded losses, with an average decline of 3.3%. American billionaires have suffered the most.
Meta founder Mark Zuckerberg lost $17.9 billion,
Amazon CEO Jeff Bezos' fortune fell by $15.9 billion.
Tesla and SpaceX founder Elon Musk lost $11 billion.
Bernard Arnault, a shareholder in LVMH and the owner of Christian Dior, Bulgari, and Loro Piana brands, lost $6 billion.
This is the fourth-largest one-day decline in the Bloomberg Billionaires Index's 13-year history and the largest since the COVID-19 pandemic.
Recall that on April 2, Trump imposed tariffs on goods imported from about 200 countries.
