Elon Musk, Jeff Bezos, and Mark Zuckerberg led the wealth declines on Friday as fresh fears of a trade war hammered stocks.
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.
