The world’s richest people added $304 billion to their wealth amid rapidly rising stock markets — after Donald Trump announced the suspension of new tariffs for most trading partners (except China, which is subject to a 125% tariff)
This figure represents the largest one-day gain in history of the Bloomberg Billionaires IndexThe previous target of $233 billion was set in March 2022 after Federal Reserve Chairman Jerome Powell raised rates for the first time in many years, but assured investors that the economy remained resilient.
Other indices, including the S&P 500 and the Nasdaq Composite, have also recovered and risen to record levels over the past 20+ years.
The largest individual gains in the Bloomberg Billionaires Index were shown by Trump’s ardent supporter and head of his DOGE, Elon Musk, who added $36 billion to his fortune as Tesla shares rose by 23%, followed by Jensen Huang with $15.5 billion and a 19% rise in Nvidia shares, and Mark Zuckerberg ($26 billion).
At the same time, the largest percentage gain was made by Ernest Garcia II, CEO of the used car company Carvana, whose fortune increased by 25% ($1.4 billion).
Against the backdrop of all these events, Trump added a rather direct message on social media, where he called this time «great for shopping», and Senator Adam Schiff called on Congress to investigate whether the US president was involved in insider trading or market manipulation.
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