A week into the tariff war, Trump has lost over 500 million dollars.

Since Trump announced on April 3 that he would impose “reciprocal tariffs” on major trading partners including China, Japan, and Vietnam, the world’s stock markets have begun to experience different degrees of diving - the epic crash of U.S. stocks, after the policy announcement, Nasdaq futures fell 4.7% in a single day, S&P 500 futures fell 5%, and the Dow Jones futures fell 1822 points, and as of April 9, the S&P 500 index has fallen 18.9% from its February high, and its market value has evaporated by $5.8 trillion to 1950 The worst four-day losing streak since the beginning of the year; Technology stocks have become the “hardest hit area” of this stock market crash, Apple’s stock price plummeted 23% on the fourth day, and the total market value of seven technology giants such as Microsoft and Nvidia evaporated by $1.65 trillion, this impact directly stems from the risk of supply chain disruption - 75% of Apple’s components rely on Asian production, and the pressure on tariff costs is huge; According to Bloomberg statistics, the total market value of the global stock market has shrunk by $10 trillion, the Vietnamese stock market has fallen by more than 6% in a single day, the Nikkei 225 index has plummeted by nearly 3%, and the three major European stock indexes have all fallen by more than 1%.

When the nest is overturned, how can there be intact eggs? At a time when global investors are heartbroken, Trump himself cannot escape the disaster in this global big dump.

Personal wealth was “reversed” by 500 million dollars.

According to a report by Forbes on April 8, when Trump announced a large-scale tariff plan on April 2, his net worth was estimated at $4.7 billion. However, in less than a week, his assets fell to $4.2 billion, evaporating $500 million in a week. The largest portion of his personal wealth loss came from his Trump Media and Technology Group, whose stock price has dropped about 5% since April 3. Trump holds 114.75 million shares, which alone has evaporated approximately $170 million in total asset value.

In addition, Trump also holds a large number of shares in technology giants. According to the Federal Election Commission (FEC) regulations, presidential candidates must submit personal financial disclosure reports by May 15 each year, covering their assets, liabilities, and sources of income, including stock investments. As a presidential candidate, Trump is required to comply with this regulation for disclosure. His latest disclosed 2024 report shows that Trump holds stocks in Apple, Microsoft, NVIDIA, Amazon, Alphabet (Google), Meta Platforms, Berkshire Hathaway, PepsiCo, JPMorgan Chase, among others, with values ranging from $100,000 to $1 million, and the holdings in Apple, Microsoft, and NVIDIA are all worth over $500,000. The total value of the aforementioned stocks alone is between $2.25 million and $4.75 million. If Trump does not make significant changes to his stock positions within eight months after the disclosure, a big dump will have a considerable impact on his paper wealth.

Source of the image: Trump’s personal financial disclosure report

In addition, the value of the real estate asset portfolio held by the U.S. president shrank from $660 million to $570 million during this period, a decrease of about $90 million. His golf-related assets also suffered losses, as many of the golf balls, clubs, and apparel sold in professional shops rely on imports.

In addition, Trump’s family crypto project WLFI also suffered huge losses from trading ETH. On April 9, according to monitoring by Lookonchain, a wallet suspected to be related to WLFI sold 5,471 ETH at an average price of $1,465, resulting in $8.01 million. This address previously spent about $210 million to buy 67,498 ETH at an average price of $3,259, and the current paper loss has reached about $125 million.

The world’s richest lose at least ten billion per person.

The British “Guardian” reported that since Trump announced the imposition of tariffs on April 3, by the close of trading on April 4, the world’s 500 richest people lost a total of $536 billion in the stock market in just two days, marking the largest two-day wealth loss recorded in the Bloomberg Billionaires Index’s history. Among them, the wealth of several billionaires who support Trump or participated in Trump’s inauguration ceremony in January has shrunk to varying degrees, with Elon Musk and Mark Zuckerberg being the most affected. The chart below shows the real-time Bloomberg Billionaires rankings (as of April 9).

The picture shows the Bloomberg Billionaires Index ranking on April 9.

After becoming a highly watched and controversial figure in the Trump administration, the world’s richest man and Tesla CEO Elon Musk has seen his wealth drastically shrink, suffering the most severe blows as stock prices experienced a big dump. By last Friday’s close, Musk’s net worth had evaporated by $31 billion. From the beginning of this year to now, Musk’s wealth has decreased by approximately $143 billion, but he still firmly holds the title of the world’s richest person, with a net worth of $290 billion.

Mark Zuckerberg, the founder of Facebook and owner of Instagram and WhatsApp, had the second-largest loss, with more than $27 billion. The world’s third-richest man, with an estimated net worth of $181 billion, has been hit hard by Meta’s plummeting market capitalization. As the tariff war hit tech companies particularly hard, the company’s shares fell nearly 14% in two days. Many of the world’s largest companies rely on the Asian market, which is one of the countries where Trump has imposed the most tariffs, for manufacturing, computer chips and IT services. Zuckerberg made a dramatic “Trump turnaround” with Meta just weeks before Trump took office, and his personal wealth has evaporated more than $26.5 billion so far this year.

Jeff Bezos, the founder of Amazon and owner of The Washington Post, saw his losses over two days rank third, reaching $23.5 billion. As a leading importer of goods, Amazon’s market capitalization has shrunk by hundreds of billions of dollars this year. Chinese sellers account for over 50% of Amazon’s third-party marketplace, and its cloud service business also heavily relies on technology produced by manufacturers in Asia. In February of this year, Bezos’s $10 billion climate and biodiversity fund halted funding for one of the world’s most important climate certification organizations, a move some view as a “capitulation” to Trump and his opposition to climate action. Bezos is the second richest person in the world, with an estimated net worth of $192 billion, and this year his wealth has evaporated by $47.2 billion.

Despite experiencing two days of big dump, not all billionaires saw their net worth shrink. Buffett, the shrewd chairman and largest shareholder of investment company Berkshire Hathaway, has seen his wealth increase to $154 billion this year. During the two-day stock market plummet, he did lose $2.57 billion, but his net worth has increased by $11.9 billion so far this year.

Trump’s tariff policy is a high-risk experiment that deeply binds personal political demands to financial markets. In just a few days, Trump and other billionaires around the world saw their wealth evaporate massively, exposing the conflict of interest between policymakers and capital markets, and revealing the self-contradiction of “protectionism” in the era of globalization—when politicians try to build walls with tariffs, it is often their own wealth empires that collapse first. For investors, this storm once again verifies an iron law: in a highly interconnected global market, no one can truly stand aloof.