How Much the World’s Richest Have Lost to Trump’s Tariffs So Far
Even if you don’t follow the stock market, you probably noticed the ripple effects this week—higher prices, a jittery news cycle, and a vague sense that something big just happened. You’d be right. The U.S. economy just took a slap from a global tariff grenade tossed by President Trump. And while most of us are bracing for what it means at the grocery store, the billionaires? They’re bleeding billions on paper. That might sound like schadenfreude bait—and it kind of is—but it also tells a bigger story about how volatile our markets are when politics takes the wheel. Here’s exactly how much the richest names in the world have lost since this all kicked off.
12. Steve Ballmer Lost $2.85 Billion as Microsoft Wobbled
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Microsoft’s still standing tall, but even it couldn’t brush off the tariff shock. Steve Ballmer, one of its largest individual shareholders, lost $2.85 billion this week. Owning an NBA team may keep him smiling courtside, but that doesn’t mean his portfolio didn’t feel the sting of economic nationalism.
11. Warren Buffett Lost $2.57 Billion as Apple Dragged Berkshire Down
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Buffett’s long-game strategy usually shields him from panic-driven losses, but even the Oracle of Omaha couldn’t dodge this one. Apple, Berkshire Hathaway’s crown jewel, dipped hard—and that alone cost him $2.57 billion. A reminder that even the safest blue-chip bets aren’t immune to political earthquakes.
10. Thomas Peterffy Lost $4.1 Billion as Trading Volatility Backfired
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You might expect the founder of Interactive Brokers to thrive in market chaos. But Peterffy’s empire wasn’t spared. With investors skittish and brokerage platforms under pressure, he took a $4.1 billion hit. For someone who built wealth on volatility, this was the wrong kind of action.
9. Sergey Brin Lost $4.6 Billion as Google Shares Sank
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Brin, like Page, left the public spotlight years ago. But Alphabet’s losses were his losses too. The tariffs spooked advertisers and tech investors alike, dragging down the stock and cutting $4.6 billion from Brin’s total. Even the low-profile billionaires couldn’t hide from this week’s storm.
8. Larry Page Lost $4.9 Billion Even After Stepping Back
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Page hasn’t been Alphabet CEO since 2019, but his portfolio sure acted like he was still calling shots. Google took a hit, and Page’s fortune dropped $4.9 billion. Between AI bets and flying car fantasies, he’s usually above the fray—but not when markets collectively hit the brakes.
7. Jensen Huang Lost $7.4 Billion After Chipmakers Got Clobbered
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Semiconductors don’t get a lot of headlines, but they’re quietly powering everything from phones to fighter jets. When the tariffs hit, chipmakers felt the jolt. Nvidia stock slid hard, and Huang, its founder, lost $7.4 billion in a blink. His AI-fueled climb might resume, but this was a hard correction.
6. Bernard Arnault Lost $8.6 Billion as LVMH Took a Luxury Hit
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Tariffs don’t just rattle Silicon Valley—they shake Paris too. Arnault’s empire, LVMH, relies on aspirational buying and smooth global logistics. After consumer confidence took a dip, so did LVMH stock. Arnault, who once held the “richest man alive” crown, watched $8.6 billion vanish like a bottle of Dom at Fashion Week.
5. Elon Musk Lost $8.7 Billion After Tesla’s Rough Week
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Musk’s position in the White House’s DOGE office didn’t do Tesla any favors. Sales dropped 13% in Q1, and shares tumbled over 5%—enough to strip $8.7 billion from his wallet. With boycotts and backlash swirling, not even his spacefaring ambitions could distract investors from the fallout.
4. Michael Dell Lost $9.4 Billion After Tech Stocks Got Slammed
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Dell Technologies wasn’t even the target, but the whole sector got caught in the crossfire. Michael Dell lost $9.4 billion as markets recoiled from Trump’s flat 10% tariff policy. For someone known for low-key empire-building, this was a loud reminder that no one in tech is safe from geopolitical whiplash.
3. Larry Ellison Lost $9.9 Billion Despite His MAGA Credentials
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You’d think hosting Trump at Mar-a-Lago and backing a $500 billion AI initiative would cushion the blow. Nope. Oracle’s 6% dive erased nearly $10 billion from Ellison’s net worth. His Tesla stake didn’t help either. Turns out, even the most loyal billionaires can’t hedge against a global tariff tantrum.
2. Jeff Bezos Lost $16 Billion After Amazon’s 9% Drop
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Bezos tried to thread the political needle—adjusting the Washington Post’s tone, showing up at inaugurations—but Wall Street didn’t care. Amazon’s value plummeted anyway, taking $16 billion from his fortune. Even after stepping down as CEO, Bezos is still the face of the brand—and now, also the face of a serious market haircut.
1. Mark Zuckerberg Lost $17.9 Billion After Meta’s Fact-Check Fail
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Meta’s decision to downshift from professional fact-checking to “community notes” did not land well, especially after cozying up to Trump’s administration. Pair that with Meta stock plunging 9%, and Zuckerberg’s net worth shrank faster than you can say Threads. Public trust aside, this was a brutal drop for someone already under a political microscope.