Billionaires' Bloodbath: $34 Billion Wiped Out in a Single Day!

Ladies and gentlemen, buckle up! We're in the midst of a market maelstrom that's left even the titans of tech reeling. Elon Musk, Mark Zuckerberg, and Jensen Huang just saw a combined $34 billion vanish into thin air in a single day. Yes, you heard it right! The market is on a rollercoaster ride, and these billionaires are feeling the G-forces.



Let's break it down. Elon Musk, the world's richest man, took a sizable hit to his net worth as the stock market shudders at Trump’s tariffs, causing shares of Musk’s multinational car company Tesla to flounder. Musk’s net worth fell by $8.8 billion Thursday to $342.8 billion, according to Forbes’ real-time estimates. Tesla stock closed at just above $263, some 45% below its end-of-day record set late last year. This is a bloodbath, folks! Tesla ended Thursday trading at its lowest share price since Election Day.

Now, let's talk about Mark Zuckerberg. The Meta CEO saw his net worth plummet by $12 billion in a single day. Zuckerberg's fortune is now down $121.2 billion from its end-of-day record of $464 billion set Dec. 17, when Tesla stock closed at an all-time high $480 per share. Zuckerberg's net worth is now $380 billion, a whopping $144 billion richer than the second-richest person in the world, Meta CEO Mark Zuckerberg.

And then there's Jensen Huang, the CEO of Nvidia. Huang saw his net worth drop by $13.2 billion in a single day. Huang owns a roughly 3.5% stake in Nvidia after selling hundreds of millions of dollars’ worth of stock over the last several months. Much of Zuckerberg’s net worth is also tied up in stock of the company he founded. He is the largest individual shareholder of Meta, owning about 345.5 million shares, according to Meta’s proxy statement filed in April. About 344 million of Zuckerberg’s shares are Class B shares, a special type of Meta stock that grants holders 10 votes per share. He owns 99.7% of this class of share.



So, what's the takeaway here? The market is a beast, and it's hungry for blood. Trump's tariffs have sent shockwaves through the market, and these billionaires are feeling the pain. But remember, folks, this is the market. It's volatile, it's unpredictable, and it's always moving. So, stay tuned, stay informed, and stay ready to pounce when the next opportunity comes your way. Because in this market, one thing is for sure: the only constant is change.