Trump Tariffs: Elon Musk, Zuckerberg, Bezos Suffer Big Losses
April 4, 2025
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Shane Croucher is a Breaking News Editor based in London, UK. He has previously overseen the My Turn, Fact Check and News teams, and was a Senior Reporter before that, mostly covering U.S. news and politics. Shane joined Newsweek in February 2018 from IBT UK where he held various editorial roles covering different beats, including general news, politics, economics, business, and property. He is a graduate of the University of Lincoln, England. Languages: English. You can reach Shane by emailing s.croucher@newsweek.com
Shane Croucher
Breaking News Editor
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Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
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Elon Musk saw around $11 billion shaved off his wealth in the stock market bloodbath that followed President Donald Trump’s unveiling of tariffs on Thursday, taking his overall losses since the beginning of 2025 to more than $110 billion.
That is according to financial data compiled by Bloomberg, which monitors the wealth of the world’s 500 richest people.
Musk, the CEO of Tesla and SpaceX, is a close political ally and major funder of Trump, and has been spearheading the Department of Government Efficiency’s (DOGE) cuts to federal spending.
But two other billionaires suffered even greater losses than Musk: Amazon’s executive chairman Jeff Bezos and Meta CEO Mark Zuckerberg.
Bezos lost $15.9 billion from his personal wealth after the tariffs announcement as Amazon shares slid sharply, the data showed.
Zuckerberg topped the list of the biggest losers by dollars, down $17.9 billion as Meta shares took a hit in the sell-off.
This is a developing story and more information will be added shortly.
Elon Musk speaks during a town hall in Green Bay, Wisconsin on March 30, 2025. Elon Musk speaks during a town hall in Green Bay, Wisconsin on March 30, 2025. ROBIN LEGRAND/AFP via Getty Images
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