The largest individual gainer was Elon Musk, who added $36 billion to his fortune after shares of his company Tesla jumped 23%, AzVision.az reports, citing TASS.
Musk is followed by Mark Zuckerberg, CEO of Meta Platforms Inc. who gained almost $26 billion. Nvidia Corp.’s Jensen Huang saw his wealth rise $15.5 billion as the chipmaker’s shares rebounded 19%, Bloomberg reported.
As Bloomberg notes, the $304 billion gain in the combined net worth of the world's richest people is the largest in the history of the Billionaires Index. The previous record of $233 billion was set in March 2022 after the US Federal Reserve raised its base interest rate.
On April 2, Trump announced the imposition of customs duties on products from 185 countries and territories. Russia is not on this list. Universal 10% tariffs came into force on April 5, while individual tariffs became effective on April 9.
The US administration also introduced customs duties of 25% on all imported cars from April 3. After the announcement of duties was made, within two days, companies in the S&P 500 index lost a total of about $5 trillion in market capitalization, which was a record since the COVID-19 decline of March 2020.
On April 9, Trump announced that he was suspending tariff increases for 90 days on countries that had shown a willingness to negotiate. They would be subject to import tariffs of 10%. US Treasury Secretary Scott Bessent stressed that the suspension applies to Canada and Mexico. At the same time, the American leader raised tariffs on products from China to 125%.
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