April 4 – Thursday was fairly a tough day for the world’s richest people. Elon Musk, Jeff Bezos, and Mark Zuckerberg collectively misplaced $45 billion in web value. Musk alone noticed an $11 billion drop, with Tesla (NASDAQ:TSLA) inventory falling over 5%.
Bezos wasn’t far behind, shedding $15.9 billion as Amazon (NASDAQ:AMZN) shares dropped by 9%. Zuckerberg’s wealth fell by $17.9 billion after Meta (NASDAQ:META) shares additionally plummeted 9%.
The sharp declines got here after President Trump’s announcement of recent tariffs, which sparked fears of rising inflation and a possible recession. The S&P 500, Nasdaq, and Dow Jones all noticed their worst single-day losses because the pandemic.
With the markets on edge, traders are left apprehensive concerning the uncertainty and what’s subsequent. Even the richest aren’t immune to those sorts of sudden market shifts.
This text first appeared on GuruFocus.
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