The article outlines the swift decline in wealth among the world's richest individuals, particularly following Donald Trump's inauguration and the subsequent market correction. While the U.S. stock market enjoyed significant gains over two years, the new administration's economic strategies and trade tensions have led to substantial declines in stock values, particularly affecting billionaires like Elon Musk, Mark Zuckerberg, and Jeff Bezos. The total loss among the top ten wealthiest individuals reached $392 billion, although figures like Warren Buffett and Bernard Arnault avoided significant losses amid the turmoil.
In just a matter of weeks, hundreds of billions have vanished, driven by the trade war and the economic uncertainty that the new Republican administration is instilling in the market.
Musk, worth $310 billion, has lost a staggering $175 billion since his peak on December 17, representing 56% of his total wealth.
The combined loss of the top 10 wealthiest individuals recently amounts to $392 billion, showcasing the significant impact of market corrections.
Amid the turbulence, two names stand out for dodging the storm: Warren Buffett and Bernard Arnault.
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