Trump’s new tariffs announcement on 2 April, 2025, led to world’s 500 richest people experience S&P 500 Index fall, unprecedented two-day decline causing heavy turmoil in global financial markets. This is the biggest loss ever after pandemic in 2020 on the Bloomberg Billionaire Index.
Friday’s drop $329 billion, and Thursday’s drop $208 billion. Also, Nasdaq composite fell 11.4% and S&P 500 Index dropped 10.5% within two days, so almost 90% of the billionaire on the wealth list lost $537 billion over the two days.
World’s Top Billionaires biggest lost
Mark Zuckerberg: CEO of Meta Platform experienced the $17.9 billion loss which bringing down his net worth to $189 billion.
Jeff Bezos: Founder of Amazon experienced a $15.9 billion decrease in his wealth, leaving him his net worth of $201 billion total.
Elon Musk: CEO of Tesla saw the similar fortune of decline of $11 billion in his net worth which bringing down to the $322 billion.
Impact on Technology Sector
The technology is particularly reliance on global supply chains that is why it is hard hit by the Trump’s new tariffs and significant exposure to international markets. Major companies like Tesla, Amazon, Apple, Microsoft, Nvidia, and Meta collectively lost around $760 billion in capital market within hours.
Companies which rely upon material goods import from China are heavily hit because the unavailability of the essential components and higher cost. Company including Apple which nearly plunged 6% in extended trading.
Global market responded sharply to the tariff announcement
Worst day in a five year for the US market which S&P 500 nearly fell 6% to close at 5,074.08.
Dow Jones Industrial Average dropped by 5.5% to close at 38,314.86. from Dow Jones market data analysis last two days seen $6.4 wiped off from the US stock market.
While every particular company is hit hard by the new tariff stock market fell off heavily within a day in a five year. Nasdaq composite fell 5.8% to 15,587.79.
On the other hand, European and Asian market experienced a significant decline FTSE 100 experienced biggest hit and cause to dropping down since the pandemic.
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Jerome Powell Federal Reserve chair said tariffs will likely mean a high inflation and unemployment, causing rush and push market further into panic, according to The Guardian.
Conclusion
World’s richest billionaire wealth lost in the single day with S&P 500 Index dropped 10.5%, after the Trump’s 2 April, 2025 announcement. Creating chaos in the global market, Billionaire’s fortune plummet amid global market turmoil. Tech companies are hit hard by this development which mostly rely upon international supply chain. People are panicking because of uncertain in the market.
