President Donald Trump’s tariffs on more than 180 countries have triggered market turmoil, with the S&P 500 skimming bear market territory and sparking the worst two-day wealth loss ever among the world’s top billionaires. Tech giants like Nvidia, Amazon, and Meta were hit hardest, driving down net worths across the board. Elon Musk suffered the biggest blow, shedding $20 billion in a single day and over $130 billion year-to-date, yet he remains the world’s richest person.
Other moguls like Warren Buffett, Larry Ellison, and Mark Zuckerberg also lost nearly $10 billion each on Friday, highlighting the volatility rippling through global economies. Despite the losses, Buffett stands out as the only major billionaire with gains in 2025—up $12 billion—after shifting to cash-heavy holdings last year. His decision to sell $134 billion in equities in 2024 and bank on U.S. Treasury Bills appears prescient amid the downturn.
With markets from Asia to Europe tumbling, and everyday investors seeing their savings dwindle, questions of inequality are intensifying. A recent poll revealed that nearly 75% of Americans view wealth inequality as a serious issue, while almost half believe billionaire wealth hoarding blocks average citizens from achieving the American Dream. As billionaire portfolios shrink, the exclusive club may be losing members—but the financial strain on ordinary Americans may prove far more consequential.
Source: Swifteradio.com
