Economic Storms Batter the Super Rich: Enormous Losses in the Markets
April 8, 2025, 11:37 am

Economic Storms Batter the Super Rich: Enormous Losses in the Markets

أثرياء العالم

Global stock markets are experiencing severe turmoil following the U.S. administration's imposition of new tariffs, leading to significant losses for major business leaders and investors. In the first two days of trading after the announcement of "Liberation Day," the richest 500 people in the world recorded a collective loss of $536 billion, marking the largest wealth decline over a short period, according to the Bloomberg Billionaires Index.

Here are the most affected by these economic fluctuations, with only one billionaire showing success this year.

Elon Musk

Elon Musk, the world's richest man and CEO of Tesla, suffered the largest loss by far. A staggering $31 billion was wiped off his net worth between the market opening on Thursday and its closing on Friday, as Tesla’s stock price declined. Despite the drop in Tesla shares, his company SpaceX remains among his most valuable assets. So far this year, Musk's fortune has decreased by $130 billion, but he still holds the title of the richest person in the world with a net worth of $302 billion.

Mark Zuckerberg

The founder of Meta, which owns Facebook, Instagram, and WhatsApp, recorded the second-largest loss, losing over $27 billion. With a net worth estimated at $179 billion, Meta's shares were severely affected by the downturn, plummeting nearly 14 percent over two days due to the impact of tariffs on tech companies. To date, Zuckerberg's personal fortune has declined by more than $28 billion this year.

Jeff Bezos

Amazon founder Jeff Bezos experienced the third-largest loss, amounting to $23.5 billion. The market value of Amazon, which specializes in selling imported goods, was significantly impacted, as Chinese sellers make up over 50 percent of the company's e-commerce platform. Although Amazon's stock rose slightly by 0.4 percent, Bezos has lost a total of $45 billion from his fortune, which is estimated at $193 billion.

Bernard Arnault

Owner of the luxury goods empire LVMH, Bernard Arnault, faced a loss of $6 billion on Thursday and $5 billion on Friday due to trade tensions and the effects of tariffs. His loss reflects a continuous decline in his wealth, which is currently estimated at $158 billion, representing a total decrease of $18.6 billion so far.

Warren Buffett: The Exception

In contrast to the other billionaires, Warren Buffett, the head of Berkshire Hathaway, saw an increase in his wealth to $155 billion this year. Despite losing $2.57 billion during the recent market crash, Buffett has added $12.7 billion to his net worth since the beginning of the year, demonstrating strong performance from his company amidst volatile market conditions.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”