Elon Musk, Mark Zuckerberg, and Jeff Bezos lose $80 billion after Trump’s tariffs

In the United States, significant turmoil in the stock market has been observed since April 2, 2025, when President Donald Trump announced sweeping tariffs affecting nearly all U.S. trading partners. The tariffs, which came to be known as 'Liberation Day,' have led to a drastic decrease in the net worth of some of the country's wealthiest tech CEOs, most notably Elon Musk, Mark Zuckerberg, and Jeff Bezos. As stock prices plummeted, these influential figures saw their fortunes decline alarmingly. As of April 9, 2025, Mark Zuckerberg, CEO of Meta, found himself $26 billion poorer due to the substantial drop in his company's stock price, which has decreased by about 14% since March. This decline was in part driven by the potential impact of tariffs on advertising revenues, as businesses may be compelled to curb their advertising expenditures, anticipating higher costs for everyday products. Moreover, Meta had already witnessed a 30% decline in stock value since its peak in February, further overshadowing Zuckerberg's economic strategies. Jeff Bezos, the co-founder of Amazon, saw his wealth diminish by approximately $21 billion following the tariffs. Amazon's stock experienced extreme volatility, falling around 30% from February's high. The uncertainty surrounding increased tariffs, particularly on products sourced from China—one of Amazon's primary suppliers—led to Amazon canceling some inventory orders on April 9 to mitigate potential financial fallout. Bezos's net worth showed a comparable decline of nearly 20% when compared to the same time last year, reflecting the broader tremors in both the market and consumer sentiment. Elon Musk faced the most severe losses, with his net worth plunging to $290 billion, representing a significant drop as Tesla's stock fell approximately 12% due to the tariffs. Musk, who is known for his close ties to Trump and his advisory roles in the administration, could not escape the repercussions of the tariffs either, which also affected importation costs for vehicles and parts. This situation underscores the unpredictable relationship between government policy and market behavior, demonstrating how quickly fortunes can change in response to international trade decisions. Overall, the collective losses of Musk, Zuckerberg, and Bezos highlight the interconnectedness of global economies and the severe impact that policy announcements can have on the wealth of even the most prominent billionaires. Stakeholders and economists continue to assess the broader implications of Trump's tariffs, which could lead to rising consumer prices and an overall slowdown in economic growth in the United States.