Donald Trump's Great Guy Elon Musk Among Biggest Losers After US President Imposes Reciprocal Tariffs

Washington: Billionaire entrepreneur and Donald Trump 's close aide Elon Musk has emerged as one of the biggest losers after US President imposed reciprocal tariffs announcement on American trading partners. Musk stands at the third spot among billionaires who have lost massive wealth as a result of reciprocal tariffs while Zuckerberg tops the list.

Not just Elon Musk and Mark Zuckerberg, but Amazon founder Jeff Bezos among other billionaires have witnessed a massive wealth wipeout post Trump's tariff announcement.

The Wall Street has remained all red in the last two days, witnessing a blood bath. On Thursday, the stock market closed down with a shock $2.5 trillion, in one single day when Trump announced tariffs, highest since Covid-19 pandemic.

According to Bloomberg Billionaires Index, Meta boss Mark Zuckerberg was the biggest loser in dollar terms as he witnessed almost 9% — $17.9 billion — of his wealth being erased.

Jeff Bezos emerged as another biggest loser who saw $15.9 approx worth of wealth getting wiped out. Meanwhile, Elon Musk, the DOGE head and Trump’s close aide lost $11 billion after Tesla stocks tumbled down 5.5%.

Other major stocks including Joe, S&P 500, and NASDAQ has too remained in red and pain.

List of billionaires who lost massive wealth post Trump’s tariff announcements

1. Mark Zuckerberg - $ 17.9 Billion 
2. Jeff Bezos - $ 15.9 Billion 
3. Elon Musk - $ 11 Billion 
4. Michael Dell - $9.53 Billion 
5. Larry Ellison - $ 8.10 Billion 
6. Jensen Huang - $ 7.36 Billion 
7. Bernard Arnault - $ 6.22 Billion 
8. Larry Page - $ 4.79 Billion  
9. Sergey Brin - $ 4.46 Billion 
10. Thomas Peterffy - $ 4.06 Billion

Trump imposes reciprocal tariffs on 133 nations 

Donald Trump on Thursday imposed his much anticipated reciprocal tariffs on 133 nations. Justifying imposition of tariffs on US trading partners, Trump termed it as declaration of America's economic independence. The US President said that for years, the world was taking advantage of their trading policy and exploiting benefits but not anymore.

Trump made it clear that the United States will treat its trading partners the same way they treat America – and so there are reciprocal tariffs. Mentioning a long list of nations, Trump said India is another nation who is very hard on tariffs so there is going to be ‘hard-love’ friendship as he announced tariffs. 

The US President has levied 26% tax on India, 34% on China, 20% on EU, 10% each on UK, UAE, Saudia Arabia, Australia, New Zealand among many others. Here's the full list of nations on which Trump imposed reciprocal tariffs.