WATCH THE VIDEO HERE Global markets were thrown into turmoil after U.S. President Donald Trump announced sweeping reciprocal tariffs on Wednesday, causing a massive $208 billion plunge in the combined wealth of the world’s richest individuals by Thursday. Africa’s richest man, Aliko Dangote, was among those affected, experiencing a $14.5 million drop in his wealth, according to Bloomberg. This represents approximately 0.05% of his total wealth of $28.1 billion. The impact of Trump’s tariffs reverberated across global equity markets, with the latest losses marking the fourth-largest one-day decline in the Bloomberg Billionaires Index’s 13-year history. It is also the largest wealth wipeout since the economic uncertainty witnessed during the peak of the COVID-19 pandemic. More than half of the billionaires tracked by the Bloomberg Wealth Index witnessed declines, averaging 3.3%. U.S. billionaires faced the most significant losses, with tech magnates Mark Zuckerberg and Jeff Bezos leading the pack. While most regions felt the sting of the tariffs, the Middle East stood out as the only region where those on Bloomberg’s wealth index posted net gains. As global markets attempt to adjust to Trump’s tariff measures, the sharp declines in wealth among the world’s elite signal a period of uncertainty and volatility ahead. The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. The figures are updated at the close of every trading day in New York.
Dangote among global billionaires who lost combined $208 billion in one day from Trump tariffs
