Billionaire Wealth Plummets: $536 Billion Lost in Historic Market Downturn

A historic loss of over $536 billion has been recorded among the world’s 500 richest individuals, reflecting a dramatic downturn in global markets. This significant decline was documented by the Bloomberg Billionaires Index and occurred between Thursday’s U.S. market opening and Friday’s close. The market upheaval was triggered by President Trump’s recent announcement of large tariffs, leading to a substantial drop in both the S&P 500 (10.5%) and the Nasdaq Composite (11.4%).