Elon Musk, Jeff Bezos and Mark Zuckerberg lose $42.6 billion as Trump announces ‘discounted’ reciprocal tariffs

Mark Zuckerberg, Jeff Bezos, and Elon Musk lost a combined $42.6 billion in a single day after US President Donald Trump announced a fresh wave of tariffs that shook global markets. According to data from Forbes, Facebook-parent Meta’s CEO Mark Zuckerberg suffered the biggest loss, with his wealth dropping by $17.9 billion on Thursday, April 3. Amazon founder Jeff Bezos followed with a $16 billion decline, while Tesla CEO Elon Musk saw his net worth fall by $8.7 billion.

The losses came after President Trump introduced a new set of “discounted” reciprocal tariffs, which triggered panic on Wall Street. The announcement led to one of the worst trading days in recent years, with all major US stock indexes recording their biggest single-day drops since the COVID-19 pandemic.