The world's 500 richest people lost a combined $208 billion in one day due to Trump's tariffs

The world's 500 richest people lost a combined $208 billion due to U.S. President Donald Trump's sweeping tariffs, marking the fourth-biggest one-day decline in the 13-year history of the Bloomberg Billionaires Index and the biggest since the COVID-19 pandemic.

More than half of the billionaires tracked by Bloomberg suffered losses, down an average of 3.3%. US billionaires were hit the hardest, with Mark Zuckerberg and Jeff Bezos among them. Zuckerberg lost $17.9 billion after Meta shares fell 9%, while Bezos lost $15.9 billion as Amazon shares fell 9%.

Elon Musk has lost $110 billion this year, including $11 billion as Tesla shares plunge. Ernest Garcia III, CEO of Carvana, lost $1.4 billion after the company's shares fell 20%. Toby Luetke, co-founder of Shopify, lost $1.5 billion as the stock fell 20%.

On the other hand, Carlos Slim, Mexico's richest man, escaped the impact of the tariffs thanks to Mexico being excluded from the list of countries subject to the new tariffs. His fortune increased by 4%, to $85.5 billion.

Bernard Arnault, owner of LVMH, also suffered losses - his fortune decreased by $6 billion due to the fall in the company's shares due to expected customs restrictions on the export of alcohol and luxury goods to the United States.