Featured Image Credit: BRENDAN SMIALOWSKI / Contributor / Getty
All anyone is talking about right now is President Trump's trade tariffs, with 'Liberation Day' sure to go down in history for the United States of America and the rest of the world.
Saying that he was sick of the USA being 'pillaged', the POTUS used his powers to sign an executive order and levy a baseline 10% on foreign imports.
Regions like Australia got off lightly, as the likes of China (54%), Cambodia (49%), and Vietnam (46%) were hit harder than others.
There were fears about what Donald Trump would do to the tech and automobile industries, considering they rely so heavily on parts and whole products manufactured in foreign countries, and as Trump tried to push the USA into a new 'Gilded Age' where America becomes a manufacturing powerhouse, it seems not everyone is sold.
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People watched on in horror as he wiped $2.3 trillion off the stock market in just 25 seconds, while companies around the globe have felt the pinch with their stocks plummeting.
With so many of the world's richest people being in the tech industry, we can imagine the big three of Elon Musk, Jeff Bezos, and Mark Zuckerberg aren't too happy right now, especially with Musk recently hemorrhaging money amid his Tesla troubles.
As noted by Business Insider, the world's 10 richest people have all suffered some severe financial losses in the aftermath of these Trumpenomics.
Stock markets suffered the worst single-day loss in five years on April 3, with the S&P 500 dropping nearly 5%, the Dow losing 1,679 points, and the Nasdaq diving by 6%. With this, the 10 richest had some $74 billion wiped off their net worth in the blink of an eye.
Leading the pack, Elon Musk lost $11 billion, but because he's the world's richest, it's only 2.5% of his overall wealth. Amazon's tariff woes meant Jeff Bezos lost $15.9 billion, working out at 6.7% of his total wealth.
Meta CEO Mark Zuckerberg was stung particularly hard, and losing $17.9 billion, that's nearly 9% of his wealth.
Musk, Zuckerberg, Bezos & the top 1% made a fortune during Bidenomics, then they voted Trump to avoid taxes.
— The Real Slim Skagmacker 🇺🇸🦅 (@CattardSlim) April 2, 2025
They've lost more under Trump than they would have paid in taxes under Kamala. Their greed has them now begging Trump for Tariffs exemptions, while having no stability. pic.twitter.com/xpNySxy8gO
Warren Buffet has already outlined his plans to give away 'all' of his wealth as part of the Giving Pledge, but still, a $2.57 billion loss is nothing to smirk at. Similarly, Bill Gates is down $291 million - equating to just 0.2% of his wealth. Bernard Arnault is known as the chairman and CEO of luxury good conglomerate LVMH, losing $6.22 billion.
Oracle's Larry Ellison is down $8.10 billion (4.2%), Google co-founders Larry Page and Sergey Brin are down a respective $4.79 billion (2.9%) and $4.46 billion (2.8%), while former Microsoft CEO Steve Ballmer lost $2.85 billion (1.9%).
As you can see, it's Zuckerberg whose been hit the hardest from the Trump tariffs, which comes in the aftermath of him seemingly becoming closer to Trump's new policies and stripping DEI initiatives from Meta.
While many of the above attended Trump's January inauguration and shocked the world with their $1.35 trillion wealth, they've lost billions since. Still, with the world's richest boasting bank balances most of us could only dream of, there's unlikely to be much sympathy from the American public.
