After US President Donald Trump imposed "reciprocal tariffs" on several countries, the world's 500 richest people saw a decline in their combined wealth, losing USD 208 billion in 24 hours after the announcement.

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It is indeed one of the largest fall in fortunes in over a decade. 

The new tariffs have impacted multiple billionaires, Sputnik reported citing data from the Bloomberg Billionaire Index (BBI) compiled by Bloomberg on Friday. 

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The plunge in the combined wealth of the world's top 500 billionaires is the fourth-largest one-day decline since the BBI was launched 13 years ago and the largest since the COVID-19 pandemic.

The effect of tariffs did not even spare Trump's closest aide Elon Musk. 

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Who are the billionaires?

The billionaires in the US have been hit majorly, according to the Bloomberg Billionaires Index, before American stock markets opened. 

Meta founder Mark Zuckerberg was the biggest loser in dollar terms, with the social media company's nine per cent slide, with costing his chief executive officer $17.9 billion, or around nine per cent of his wealth.

Up next is Jeff Bezos, the next biggest loser in the list. Bezos lost $15.9 billion in wealth after Amazon shares plunged nine per cent on Thursday marking their biggest decline since 2022. 

Also read: Donald Trump fires NSC officials, who are they? What is its impact on US national security

While, Trump's buddy Tesla CEO and DOGE leader Elon Musk lost $11 billion on Thursday, as his care company's shares fell 5.5 per cent following Trump's tariff announcement on Liberation Day. 

See the full list: 

Who are the billionaires?

Moreover, the only billionaire living outside the US, who suffered the impact of Trump's tariffs, was France's Bernard Arnault. Arnault's LVMH, a conglomerate which owns brands including Christian Dior, Bulgari and Loro Piana, saw its shares fall in Paris, wiping $6 billion off the net worth of Europe's richest person.

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(With inputs from agencies)