The world’s 10 richest people lost nearly $70 billion in Friday’s market rout

Larry Ellison is one of the world’s richest men, so he can buy anything he wants, like a media company or two. That’s what Elon Musk did with Twitter.

Anna Moneymaker; Kevin Dietsch / Getty Images

The planet’s 10 richest people saw their collective wealth shrink by nearly $70 billion on Friday.
Markets roiled after Trump threatened an extra 100% tariff on Chinese goods, then said, “Don’t worry.”
Elon Musk took a $16 billion blow, while Jeff Bezos and Mark Zuckerberg each took $10 billion hits.

The world’s 10 richest people lost nearly $70 billion on Friday as fresh fears of a global trade war rattled markets.

The value of their stock holdings tumbled after President Donald Trump said the US would impose an additional 100% tariff on imports from China from November 1, and restrict its access to “any and all critical software,” after China tightened export controls on rare earth elements and other key materials for advanced tech manufacturing.

Tesla stock slid 5% on Friday, shrinking CEO Elon Musk‘s wealth by about $16 billion, the Bloomberg Billionaires Index shows. Amazon founder Jeff Bezos and Meta CEO Mark Zuckerberg saw around $10 billion erased from their respective net worths as the e-commerce giant’s stock fell 5% and the social media titan’s shares dropped almost 4%.

Nvidia CEO Jensen Huang took an $8 billion hit as the chipmaker’s stock fell nearly 5%, while Oracle cofounder Larry Ellison and Dell CEO Michael Dell both saw their fortunes shrink by more than $5 billion as shares of their companies retreated on worries of slower growth and more trade disruption. In all, the world’s 10 wealthiest people saw a $69 billion wealth reduction.

Trump sought to reassure markets, posting to Truth Social on Sunday, “Don’t worry, It will all be fine.” Shares of Nvidia, Tesla, and Dell were trading 3% higher ahead of Monday’s open as of 6:40 a.m. ET.

The 10 richest people’s wealth loss sounds painful, but they were still collectively worth over $2.9 trillion at Friday’s close, led by Musk’s $437 billion, Ellison’s $351 billion, Zuckerberg’s $248 billion, and Bezos’ $240 billion.

They were still $385 billion in the green for this year as of Friday, with a $159 billion year-to-date wealth gain for Ellison alone, fueled by Oracle’s 75% stock surge in 2025.

All of them except LVMH CEO Bernard Arnault rank among the largest shareholders of US tech giants, meaning they’ve benefited significantly from the buzz around AI that has boosted tech stocks this year.

Read the original article on Business Insider

Content Accuracy: Keewee.News provides news, lifestyle, and cultural content for informational purposes only. Some content is generated or assisted by AI and may contain inaccuracies, errors, or omissions. Readers are responsible for verifying the information. Third-Party Content: We aggregate articles, images, and videos from external sources. All rights to third-party content remain with their respective owners. Keewee.News does not claim ownership or responsibility for third-party materials. Affiliate Advertising: Some content may include affiliate links or sponsored placements. We may earn commissions from purchases made through these links, but we do not guarantee product claims. Age Restrictions: Our content is intended for viewers 21 years and older where applicable. Viewer discretion is advised. Limitation of Liability: By using Keewee.News, you agree that we are not liable for any losses, damages, or claims arising from the content, including AI-generated or third-party material. DMCA & Copyright: If you believe your copyrighted work has been used without permission, contact us at dcma@keewee.news. No Mass Arbitration: Users agree that any disputes will not involve mass or class arbitration; all claims must be individual.