Experts believe the billionaires are set to lose so much due to the actions of one man
Here’s why the world’s wealthiest billionaires are set to lose nearly half a trillion dollars in just 48 hours.
Forbes’ latest data, released last year, reveals that the collective wealth of the top 12 billionaires skyrocketed, showing just how much richer the ultra-wealthy are becoming. This shocking surge in their combined fortune — totaling a jaw-dropping $2 trillion — became a hot topic on Reddit, with many users left speechless by the staggering number.
Despite billionaires like Elon Musk and Mark Zuckerberg maintaining their status as global powerhouses, their fortunes have taken a hit since Donald Trump returned to the White House as president in January.
Just seven weeks into Donald Trump’s second term as president, some of the world’s wealthiest individuals — including Elon Musk, Mark Zuckerberg, Jeff Bezos, Bernard Arnault, and Sergey Brin — have seen their combined wealth plummet by a staggering $209 billion, according to the Bloomberg Billionaires Index.
The sharp decline is linked to the S&P 500 index, which dropped nearly seven percent since Trump’s return to the White House. A major contributor to this financial downturn has been the announcement of Trump’s new global tax policy — a 10 percent “baseline” tax with higher rates for 60 countries labeled as his “worst offenders.”
In his Rose Garden address on Wednesday (April 2), Trump declared the new tax measures as part of what he called “Liberation Day” for the United States.
Bloomberg reported that in the period between Trump’s election and his inauguration, the S&P 500 saw historic highs, fueled by a surge in both stock and cryptocurrency markets as investors rushed to capitalize on the political shift.
However, the tables have turned dramatically. The world’s 500 richest people endured the largest two-day loss in history on the Bloomberg Billionaires Index. From the opening of the stock market on Thursday (April 3) to its close on Friday (April 4), these billionaires collectively lost $536 billion, as the S&P 500 took a steep dive in less than 48 hours.
In recent days, many have raised their voices against President Trump’s tariffs, including former President Barack Obama.
During a speech at Hamilton College in Clinton, New York, on Thursday (April 3), Obama expressed his concerns: “Look, I don’t think what we just witnessed in terms of economic policy and tariffs is going to be good for America, but that’s just one issue. What really worries me is a federal government that threatens universities for protecting students who are simply exercising their right to free speech.”
He continued, voicing alarm over potential abuses of power: “I’m more troubled by the notion that a White House could tell law firms, ‘If you represent parties we don’t like, we’ll pull all our business or bar you from representing people effectively.’”
Obama emphasized, “That kind of behavior is a direct contradiction to the fundamental principles we stand for as Americans.”
