Jeff Bezos (l), Elon Musk and Mark Zuckerberg (r)|DoD; US Air Force; Anurag R Dubey|CC BY 2.0; CC BY-SA 4.0

The world’s 500 wealthiest people lost $536 billion in just two days after President Donald Trump’s tariff announcement plunged global markets last week.

On Friday, the S&P 500 was down about 3.4%, and the Nasdaq dropped about 4.8%.

Elon Musk took the biggest hit, losing $31 billion. Mark Zuckerberg followed with a $27 billion loss. Jeff Bezos and Larry Ellison also saw major losses.

Nike founder Phil Knight gained $84 million despite the turmoil after Trump hinted at lifting tariffs on Vietnam. 

Nearly 90% of billionaires tracked by Bloomberg’s Index saw an average net worth drop of 3.5%.