Zuckerberg Loses 26 Trillion Won...
Musk Loses 16 Trillion Won
As stock markets around the world plummeted due to the reciprocal tariffs imposed by the Donald Trump administration, the wealth of the world's top 500 billionaires evaporated by $208 billion (approximately 300 trillion won) in a single day. Mark Zuckerberg, CEO of Meta Platforms, who has recently grown closer to President Trump, saw his wealth decrease by about 26 trillion won, while Elon Musk, Tesla CEO and a key figure in the Trump administration, lost 16 trillion won.
According to the Bloomberg Billionaires Index on the 3rd (local time), the wealth of the world's top 500 billionaires fell by an average of 3.3%.
American billionaires suffered the greatest losses. Zuckerberg’s wealth took a hit as Meta’s stock price closed down 8.96% on the New York Stock Exchange, wiping out $17.9 billion (approximately 25.8136 trillion won) of his fortune. This amount accounts for about 9% of his total wealth. Meta’s stock price had surged until mid-February, increasing its market value by more than $350 billion this year, but since then, the stock has plunged about 28%.
Jeff Bezos, founder of Amazon, lost $15.9 billion (approximately 22.8944 trillion won) as Amazon’s stock price dropped 8.98%. Amazon’s stock price has fallen more than 25% from its peak in February.
Elon Musk, a close ally of President Trump, saw his wealth decrease by $11 billion (approximately 15.84 trillion won) in a single day. This year, his wealth has declined by $110 billion. Since leading the Department of Government Efficiency (DOGE) under the Trump administration, boycotts in major markets such as the U.S. and Europe have caused stock prices to fall. Although Tesla’s stock price rose the previous day following reports that Musk would soon step down from DOGE to focus on corporate management, it dropped 5.47% during the day after the tariff announcement.
Due to the global stock market crash, billionaires outside the U.S. also suffered significant losses overnight. Bernard Arnault, chairman of Louis Vuitton Mo?t Hennessy (LVMH) and Europe’s richest man who has a long-standing relationship with President Trump, was not spared. LVMH’s stock price fell 5.62% on the Paris Stock Exchange, reducing his wealth by $6 billion. This was due to expectations that the U.S. imposing 20% reciprocal tariffs on the European Union (EU) would impact key LVMH products such as alcoholic beverages and luxury goods.
Tobias L?tke, founder of Canadian e-commerce company Shopify, saw 17% of his wealth vanish overnight. Shopify’s stock price plummeted 19.63% on the Toronto Stock Exchange. Shopify generates revenue by selling imported goods, and the imposition of reciprocal tariffs worldwide has severely affected the company.
Billionaires in the Greater China region were also hit hard. Chang Chung-yuan, Taiwan’s richest man and founder of Chinese shoe manufacturer Huali Industrial Group, suffered a loss of $1.2 billion, equivalent to 13% of his total wealth, after President Trump imposed a 34% tariff on China. This was influenced by Huali Industrial Group’s stock price plunging 13.8% on the Shenzhen Stock Exchange the previous day.
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