The combined wealth of billionaires around the world increased by a record $304 billion after former President Donald Trump unexpectedly announced a temporary suspension of trade tariffs against countries that had not implemented retaliatory measures. This is according to data from the Bloomberg Billionaires Index.
The decision triggered a significant stock market rally, as investors interpreted the announcement as a signal of easing trade tensions—immediately boosting the market capitalization of major corporations.
Elon Musk, CEO of Tesla and SpaceX and known for his ties to Trump, saw the largest gain, with his net worth jumping by $36 billion after Tesla shares surged 23% in a single day. Investors responded with optimism, anticipating increased demand and reduced regulatory pressure on U.S. tech companies.
Mark Zuckerberg, CEO of Meta, added $26 billion to his fortune as the company’s stock soared. Analysts attribute the rise to lower geopolitical risks, which could improve prospects for the advertising market and digital services that Meta specializes in.
Nvidia CEO Jensen Huang was also among the top beneficiaries, with his net worth increasing by $15.5 billion. Nvidia shares surged amid expectations of higher exports and chip demand, especially from Asian countries that were spared the new tariffs.
Donald Trump, commenting on the situation from the Oval Office, said:
My friends made a lot of money today. This shows we’re on the right track. America is winning again — and winning big.
