The world’s top 10 richest people saw $74 billion vanish on paper after this week’s market rout, according to the Bloomberg Billionaires Index.
President Donald Trump’s sweeping tariffs on Wednesday afternoon triggered market chaos. Stocks suffered their worst single-day loss in five years on Thursday. The S&P 500 dropped nearly 5%, the Dow lost 1,679 points, and the Nasdaq composite plunged 6%.
Here’s how much the wealthiest have lost since the tariff announcement and how it compares to their net worth, per Bloomberg:
Elon Musk
-$11.0 billion ( -2.5%)
Graeme Sloan for The Washington Post via Getty Images
Elon Musk has seen his net worth fluctuate wildly over the past several weeks, as his involvement with the White House DOGE office has drawn public ire and boycotts against Tesla, sending Tesla’s stock down.
Musk’s wealth largely comes from his stake in Tesla, but he is also the CEO of X/Twitter, Neuralink, the Boring Company, and SpaceX. He’s worth $322 billion, per the Bloomberg Billionaires Index, making him the world’s richest person.
Jeff Bezos
-$15.9 billion ( -6.7%)
AP Photo/John Loche
Bezos is the founder and executive chairman of Amazon, and he is worth $201 billion. He also owns The Washington Post, which he purchased in 2013. Bezos stepped down as Amazon’s CEO in 2021.
Mark Zuckerberg
-$17.9 billion ( -8.6%)
Manuel Orbegozo/REUTERS
Mark Zuckerberg has been facing criticism over rolling back fact-checking on Meta platforms, including Facebook, Threads, and Instagram, and replacing that with “community notes.”
Zuckerberg is the cofounder, chairman, and CEO of Meta, putting him at a net worth of $189 billion.
Warren Buffet
-$2.57 billion ( -1.8%)
Reuters/Mario Anzuoni
Warren Buffett, with a net worth of $165 billion, is the chairman and CEO of Berkshire Hathaway, a multinational conglomerate holding company. Through Berkshire, Buffett owns a wide range of businesses, including GEICO, BNSF Railway, and Dairy Queen.
Berkshire Hathaway’s largest holding is Apple, which makes up around 20% of its portfolio.
Bernard Arnault
-$6.22 billion ( -3.5%)
Chesnot/Getty Images
Bernard Arnault is the chairman and CEO of LVMH, the world’s largest luxury goods conglomerate. The majority of his $163 billion comes from his stake in LVMH, which owns over 75 brands across fashion, cosmetics, jewelry, and spirits, including Louis Vuitton, Dior, and Moët & Chandon.
LVMH has been reporting declining sales under dampened consumer sentiments in multiple countries.
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Bill Gates
-$291 million ( -0.2%)
Roy Rochlin/Getty Images for Netflix
Bill Gates is the cofounder of Microsoft, though he stepped down from the company’s board in 2020 and now owns only a small percentage of its shares. Most of his $162 billion in wealth is managed through Cascade Investment, a private firm that holds major stakes in companies like the Four Seasons Hotels.
Gates also runs the Bill & Melinda Gates Foundation, a philanthropy organization that supports global health, education, and climate initiatives.
Larry Ellison
-$8.10 billion ( -4.2%)
Elizabeth Frantz/REUTERS
Larry Ellison is the cofounder, executive chairman, and chief technology officer of Oracle, one of the world’s largest software and cloud computing companies. With a net worth of $160 billion, Ellison is also a major investor in Tesla and owns a large portion of Lanai, a Hawaiian island.
Ellison, along with OpenAI’s Sam Altman and SoftBank’s Masayoshi Son, are also spearheading Project Stargate, a $500 billion AI infrastructure initiative supported by Trump.
Larry Page
-$4.79 billion ( -2.9%)
Kimberly White/Getty Images for Fortune
Larry Page is the cofounder of Google and a board member of its parent company, Alphabet. While he stepped down as Alphabet’s CEO in 2019, he remains a major shareholder and influential figure, with a net worth of $138 billion.
Page is also a major backer of Kitty Hawk and Opener, companies that are developing electric flying vehicles.
Steve Ballmer
-$2.85 billion ( -1.9%)
Michael Buckner/Variety via Getty Images
Steve Ballmer is the former CEO of Microsoft, a role he held from 2000 to 2014. He remains one of the company’s largest individual shareholders, with a net worth of $131 billion.
Outside Microsoft, Ballmer also owns the Los Angeles Clippers, an NBA team he purchased in 2014 for $2 billion.
Sergey Brin
-$4.46 billion ( -2.8%)
Kelly Sullivan/Getty Images
Sergey Brin is the cofounder of Google and played a key role in developing its early search algorithms. He served as president of Alphabet until stepping down in 2019.
Like Page, Brin retains significant influence at Alphabet through his Class B shares. Most of his $130 billion net worth is tied to Alphabet stock.
