TechFlow, April 5 — According to Jinshi Data, the consequences of U.S. President Donald Trump's announcement on tariffs severely hit global markets, leading to the largest two-day loss ever recorded for the world's top 500 billionaires on the Bloomberg Billionaires Index.
From Thursday's market open to Friday's close, billionaires on the list collectively lost $536 billion, with Friday's $329 billion decline marking the biggest single-day drop since the peak of the COVID-19 pandemic in 2020. During these two days, no one suffered greater losses than Tesla CEO Elon Musk, whose company's stock plunged over 10% on Friday, wiping out $31 billion from his net worth compared to Thursday's opening level, bringing his year-to-date losses to $130 billion.
