According to the Bloomberg Billionaire Index (BBI), the world’s wealthiest people have lost more than $500 billion since Donald Trump announced new tariffs on 180 countries. In the U.S. stock market, investors lost $5 trillion in investment.
It is worth noting that the top 10 richest people on the BBI donated $35.78 billion, with Warren Buffett being the only exception – Omaha’s Oracle made $12.7 billion.
Now, as netizens blame Donald Trump for the global market massacre, some speculate that Kamala Harris in the White House would be better despite her plans to impose a so-called “wealth tax.”
Trump tariff impact: The world’s top ten billionaires lose $535 billion
Elon Musk, the leader of Elon Musk, whose net worth dropped to $3002 billion, was until 1 p.m. on April 7, according to the BBI. According to BBI, Forbes and Hurun Rich List 2025, Elon Musk remains the richest person in the world.
The second biggest loser is Amazon founder Jeff Bezos (2), whose net worth fell by $45.2 billion to $193 billion; followed by Larry Ellison (7), whose wealth fell by $42.1 billion to $150 billion as of April 7.
Alphabet co-founder Larry Page (8) lost $34.6 billion and had $134 billion as of April 7, followed by co-founder Sergey Brin (10), who lost $32.2 billion, estimated at $126 billion.
Facebook and Meta founder Mark Zuckerberg lost $28.1 billion, retaining third place with a total wealth of $179 billion; as of April 7, Microsoft’s Steve Balmer fell $19.5 billion, worth $127 billion.
Among the top 10 French billionaires and the only non-Americans, Bernard Arnault fell to $18.6 billion to $158 billion, still the fourth richest man in the world. As of April 7, Microsoft’s Bill Gates (5) had a fortune of $155 billion, causing $3.38 billion in losses.
Warren Buffett is still getting when the market crashes. how?
The only green is the top 10 of Berkshire Hathway’s Warren Buffet, who received $12.7 billion in total wealth with a total of $155 billion until April 7. It is worth noting that value-oriented investors have long complained about the high market value and avoided using his cash for large acquisitions. This time, Warren Buffett predicts the upcoming market recession.
According to a Fortune report, Berkshire Hathaway invests most of its cash in short-term fiscal bills that not only provide the immunity of the bleeding market, but also provide profits for the company’s investors. The profits made by Berkshire Hathaway and Warren Buffett also came from the stock he sold before the market crashed.
Netizens say Kamala Harris’s “wealth tax” will make billionaires spend less
According to social media user @zacksjerryrig, Kamala Harris of the White House would be better, even if she promised her campaign to tax billionaires.
“For reference, if these super rich people would pay the Kamalas Wealth Tax, it would only cost them $36 billion *year* instead of losing $500 billion in two days,” the user said.
It is worth noting that Elon Musk, Jeff Bezos, Mark Zuckerberg, Larry Ellison and Apple’s Tim Cook contributed to Donald Trump’s inauguration and attended the inauguration of the U.S. President on January 20, 2025.
In August 2024, ahead of the U.S. election, Kamala Harris recognized the tax increase proposed by then-U.S. President Joe Biden in the fiscal year 2025 budget, according to a CNBC report. The proposal is a minimum tax of 25% on total revenue, including so-called “unrealized gains” or asset growth, over $100 million, or “billionaire minimum tax.”
