As Wall Street bleeds tech CEO who saw billions wiped from his wealth in single day, and he is not Elon Musk

Meta CEO Mark Zuckerberg experienced the largest decline in net worth on April 3, losing $17.9 billion. This massive loss occurred alongside a $208 billion collective drop in market value among the world's wealthiest individuals, triggered by US President Trump's new reciprocal tariffs causing market turmoil.
As Wall Street bleeds tech CEO who saw billions wiped from his wealth in single day, and he is not Elon Musk
Facebook-parent Meta CEO Mark Zuckerberg saw the largest drop in net worth on April 3, losing a staggering $17.9 billion. As per Bloomberg Billionaire Index, Amazon founder Jeff Bezos, Apple CEO Tim Cook, Facebook founder Mark Zuckerberg, Nvidia CEO Jensen Huang, Tesla CEO Elon Musk and several others from the world’s richest 500 list collectively lost $208 billion in market value. The sharp decline came after the US President Donald Trump announced a new wave of "discounted" reciprocal tariffs, triggering panic across financial markets. Wall Street recorded its worst trading day in years, as all major US stock indexes suffered their biggest single-day drops since the COVID-19 pandemic.

Wall Street bloodbath: How much Bezos, Musk and others lost


As per Forbes data, Facebook-parent Meta’s Zuckerberg witnessed the highest drop in wealth, losing $17.9 billion on Thursday (April 3). Amazon founder Jeff Bezos, on the other hand, saw his wealth decline by a staggering $16 billion.
Third most struck by the drop was Tesla CEO and Trump’s close aide Elon Musk who lost $8.7 billion amid the market selloff.
Poll
What do you think is the main cause of the tech market's volatility?

Nvidia CEO Jensen Huang saw a decline of $7.4 billion in his net worth, whereas Microsoft founder Bill Gates‘ wealth declined by $774 million in a single day.
Google-parent Alphabet co-founders Larry Page and Sergey Brin lost $4.9 billion and $4.6 billion, respectively. Alphabet CEO Sundar Pichai witnessed a loss of $18 million.
Apple CEO Tim Cook saw his net worth decline by $68 million.

How tech companies’ stocks lost value after Trump announced tariffs


According to Reuters, about $760 billion in market capitalisation was lost by tech giants collectively. Apple led the sharp selloff, tumbling nearly 6% in after-hours trading. Nvidia shares fell around 4% amid worries over its Taiwan-based chip production and Mexico-assembled AI hardware.
Tesla also took a hit, dropping 4.5% after hours. Other tech giants including Alphabet, Amazon, and Meta saw their stocks fall between 2.5% and 5%, while Microsoft proved slightly more resilient, slipping nearly 2%.
author
About the Author
TOI Tech Desk

The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk’s news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.

End of Article

Latest Mobiles

Follow Us On Social Media