April 4 – Thursday was quite a rough day for the world’s richest people. Elon Musk, Jeff Bezos, and Mark Zuckerberg collectively lost $45 billion in net worth. Musk alone saw an $11 billion drop, with Tesla (NASDAQ:TSLA) stock falling over 5%.
Bezos wasn’t far behind, losing $15.9 billion as Amazon (NASDAQ:AMZN) shares dropped by 9%. Zuckerberg’s wealth fell by $17.9 billion after Meta (NASDAQ:META) shares also plummeted 9%.
The sharp declines came after President Trump’s announcement of new tariffs, which sparked fears of rising inflation and a potential recession. The S&P 500, Nasdaq, and Dow Jones all saw their worst single-day losses since the pandemic.
With the markets on edge, investors are left worried about the uncertainty and what’s next. Even the richest aren’t immune to these kinds of sudden market shifts.
This article first appeared on GuruFocus.
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