Due to the trade war, Trump lost over 5 billion dollars in a week
Since April 3 when Trump announced the imposition of "reciprocal tariffs" on major trading partners including China, Japan, Vietnam, and others, global stock markets have started to experience varying degrees of turbulence—a historic stock market crash in the U.S. After the policy announcement, Nasdaq futures saw a one-day drop of 4.7%, S&P 500 futures dropped 5%, and DJIA futures plummeted by as much as 1822 points. As of April 9, the S&P 500 index had fallen by 18.9% from its February high, causing a $5.8 trillion market cap wipeout, marking the most severe four-day consecutive decline since 1950; Tech stocks became the "hardest-hit area" in this stock disaster, with Apple's stock price plunging 23% in four days, and the combined market cap of seven major tech giants such as Microsoft and Nvidia evaporating by $1.65 trillion. This impact directly stemmed from the risk of supply chain disruption—Apple's 75% of components rely on Asia for production, creating immense tariff cost pressure; Bloomberg data shows that the total global stock market capitalization shrank by $10 trillion, with the Vietnamese stock market plunging by over 6% in a single day, the Nikkei 225 index plummeting nearly 3%, and the three major European stock indices all dropping by over 1%.
In the midst of global investors' heartache, Trump himself could not escape unscathed from this global crash.
Personal Wealth Hit by a $500 Million "Backlash"
According to Forbes' report on April 8, when Trump announced a massive tariff plan on April 2, his net worth was estimated at $4.7 billion. However, in less than a week, his assets fell to $4.2 billion, evaporating $500 million in a week. The largest portion of his personal wealth loss came from his Trump Media and Technology Group company, whose stock price has dropped by about 5% since April 3. Trump holds 114.75 million shares, causing a total asset loss of about $170 million just from this holding.
In addition, Trump also holds a significant amount of shares in tech giants. According to the Federal Election Commission (FEC) regulations, presidential candidates must submit a personal financial disclosure report by May 15 each year, covering their assets, liabilities, sources of income, including stock investments, etc. As a presidential candidate, Trump is required to comply with this regulation for disclosure purposes. His latest disclosed report for the year 2024 shows that Trump holds stocks in Apple, Microsoft, Nvidia, Amazon, Alphabet (Google), Meta Platforms, Berkshire Hathaway, PepsiCo, JPMorgan, and others, with values ranging from $100,000 to $1,000,000, where the holdings in Apple, Microsoft, and Nvidia are all valued at over $500,000. The total value of the aforementioned shares alone ranges from $2.25 million to $4.75 million. If Trump has not significantly altered his stock positions in the 8 months following the disclosure, the crash will have a considerable impact on his net worth.
Image Source: Personal Financial Disclosure Report of Donald Trump
In addition, the real estate asset portfolio held by the U.S. President also shrank during this period, from $660 million to $570 million, a decrease of approximately $90 million. His golf-related assets also suffered losses, as many golf balls, clubs, and apparel sold in the pro shop relied on imports.
Furthermore, Trump's family crypto project WLFI incurred a huge loss due to an ETH transaction. On April 9, according to Lookonchain's monitoring, a wallet suspected to be related to WLFI sold 5,471 ETH at an average price of $1,465, receiving $8.01 million. This address had previously spent about $210 million to buy 67,498 ETH at an average price of $3,259. The current mark-to-market loss is approximately $125 million.
World's Richest Individuals Experience Billions in Losses
The Guardian reported that following Trump's announcement of tariff hikes on April 3, by the close of trading on April 4, the world's top 500 billionaires collectively lost $536 billion over the first two days of stock market trading. This marked the largest two-day wealth loss ever recorded by the Bloomberg Billionaires Index. Several billionaires who supported or participated in Trump's January inauguration suffered varying degrees of wealth reduction, with Elon Musk, Mark Zuckerberg, and others being among the most affected. The following image shows the real-time Bloomberg Billionaires Index (as of April 9).
Image of Bloomberg Billionaires Ranking on April 9
The world's richest person and CEO of Tesla, Musk, has seen a significant decline in wealth since becoming a prominent and controversial figure in the Trump administration. His wealth took the hardest hit, with a net asset loss of $31 billion by last Friday's close due to a stock price plunge. From the beginning of this year until now, Musk's wealth has shrunk by about $143 billion, yet he still holds the title of the world's richest person with a net worth of $290 billion.
Facebook founder and owner of Instagram and WhatsApp, Zuckerberg, suffered the second-largest loss, totaling over $27 billion. The net worth of this global third richest person is estimated at $181 billion, heavily impacted by the sharp decline in Meta's market value. As the tariff war particularly hit tech companies hard, Meta's stock fell by nearly 14% in two days. Many of the world's largest companies rely on the Asian market for manufacturing, computer chips, and IT services, and Asia is one of the countries where Trump's tariffs are most severe. Just weeks before Trump took office, Zuckerberg made a notable "Trump pivot" regarding Meta. So far this year, his personal wealth has evaporated by over $26.5 billion.
Amazon founder and Washington Post owner Jeff Bezos saw a two-day loss of $235 billion, ranking third on the list. As the world's leading importer of goods, Amazon's market value has already shrunk by billions of dollars this year. Chinese sellers occupy over 50% of Amazon's third-party marketplace, and its cloud services business heavily relies on technology produced by Asian manufacturers. In February this year, Bezos' $10 billion climate and biodiversity fund stopped funding one of the world's most important climate certification organizations, with some seeing this move as a "surrender" to Trump and his anti-climate action stance. Bezos is the world's second-richest person, with an estimated net worth of $1920 billion, of which $472 billion has evaporated this year.
Despite experiencing a two-day plunge, not all billionaires have seen a reduction in their net worth. Buffett, the savvy chairman and largest shareholder of investment company Berkshire Hathaway, has seen his wealth rise to $154 billion this year. While his fortune did suffer a $25.7 billion loss during the two-day stock market crash, his net worth has increased by $119 billion year-to-date.
Trump's tariff policy is a high-risk experiment that tightly binds personal political agendas to the financial markets. Trump and other world's richest individuals saw massive wealth evaporation in just a few days, not only exposing the conflict of interest between policymakers and the capital markets but also revealing the self-contradiction of "protectionism" in the era of globalization — when politicians try to build walls with tariffs, the first to collapse is often their own wealth empire. For investors, this storm once again confirms an iron rule: in a highly interconnected global market, no one can truly stand alone.
You may also like
OpenAI Reveals It Has Confidentially Submitted an S-1 to the SEC, Keeping the Door Open for a Future IPO
On June 9, according to an OpenAI announcement, the company recently confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), beginning the preliminary compliance process for a potential initial public offering. OpenAI said it chose to disclose this proactively because it expected the news might leak; however, the company has not yet set a specific listing timeline, and related arrangements may still take some time.
Latest research from 13 top universities including Cornell University: The current state, challenges, and misconceptions of the fusion of Crypto and AI
Deconstructing Anthropic: The Best AI Company, Possibly Also a Type of Organizational Invention
Apollo and Blackstone Reportedly Back $35 Billion Anthropic Chip Financing as Deal Details Remain Unclear
On June 9, according to currently available news alerts, Apollo and Blackstone Group participated in a $35 billion financing for an Anthropic “chip project.” Based on the original wording of the report, the funding has already been raised, but public information remains limited. The financing structure, use of proceeds, project entity, and whether Apollo and Blackstone participated through equity, debt, or project financing have not yet been disclosed.
Humanity Protocol Security Incident Escalates: More Than $31 Million Stolen From Related Addresses as Attacker Continues Selling H for ETH
On June 9, according to monitoring by Onchain Lens, more than $31 million has been stolen from addresses linked to Humanity Protocol, and the attack is still ongoing, with the hacker continuously swapping H tokens for ETH. Project founder Terence Kwok later confirmed the security incident on X, saying the issue involved a private key leak.
Bloomberg: As Bitcoin Weakens, Stablecoins and RWA Continue to Drive Expansion in Crypto Businesses
In June, Bloomberg reported that despite Bitcoin falling below $60,000 last week, wiping out about $235 billion in market value within seven days, and dropping close to 50% from last year’s peak, some core businesses in the crypto industry are still expanding, mainly in stablecoins, real-world asset tokenization (RWA), payments, and infrastructure. The report also noted that overall altcoin activity has contracted significantly: altcoin market capitalization has fallen from a peak of about $431 billion in November 2021 to around $170 billion, and among the tens of millions of tokens issued in recent years, fewer than 1,700 still maintain meaningful trading activity.
Galaxy Deep Research Report: How Hyperliquid's HIP-4 Upgrade Changes the Landscape of Prediction Markets?
Binance Research: RWA Market Expected to Expand Nearly 6x from Early 2025, with Public Equities and Onchain Payments Heating Up Together
In June, Binance Research said in its monthly market report that the real-world asset (RWA) market is expected to grow by about 589% from the beginning of 2025. Bond- and money market fund-related RWA expanded by about $6.5 billion, up 83% year over year, while publicly traded equity RWAs grew by about 422%. The report also noted that monthly crypto debit card transaction volume exceeded $747 million in May, up 48.6% year to date.
Japan to Assess a Framework for Yen Stablecoins and Crypto ETFs as Asia’s Compliant Payments Narrative Heats Up
Recently, according to the original report, Japan is considering the launch of yen stablecoins and cryptocurrency ETFs. Public information remains limited at this stage, and there is still no complete policy text, regulatory draft, or clear implementation timeline, so this is better characterized as a “policy discussion” rather than formal implementation. The original wording also noted that advancing stablecoin regulation in Asia is driving XRP usage and supporting growth in the XRPL ecosystem. However, based on currently available public information, there is not enough evidence to directly establish a clear causal relationship between this round of discussion in Japan and XRP or XRPL.
ZachXBT: Humanity private key leak and abnormal surge in H token should be viewed separately
On June 9, according to related disclosures, on-chain investigator ZachXBT posted an update on Humanity’s roughly $31 million security incident, saying that after further analyzing fund flows, he currently tends to believe the project team was not involved in an “inside job” or a self-staged attack. According to him, the official explanation about the private key leak was broadly accurate, but before the token unlock, the price of H had been artificially pushed higher, and the hacker later took advantage of that market environment; therefore, the private key leak and the earlier abnormal price pumping should be regarded as two separate and independent events. This reframing has shifted the market’s understanding of the nature of the incident. Earlier discussion around Humanity had focused on whether the team directly participated in the attack or used the security incident to cover up internal operations. ZachXBT’s latest remarks shift the focus from “whether it was self-theft” to “whether there were pre-unlock market structure issues.” He also questioned whether the team may have.
Morning Report | OpenAI has submitted an S-1 registration statement draft to the U.S. SEC; Morpho completes $175 million financing
Morning Report | BitMine increased its holdings by 126,971 ETH last week; trader Eugene announced his exit from the crypto market
Wang Chuan: How can one not feel anxious after the neighbor Old Wang made thirty times profit by investing in storage stocks? (Seven) - A quarter-century cycle
Cryptocurrency CEXs are flocking to sell US stocks, and traditional brokerages are facing an "uninvited guest."
$75 billion in foreign capital has fled, and South Korean retail investors have absorbed it all using leverage
Japan’s Three Megabanks Plan Joint Stablecoin Issuance in Fiscal 2026
MUFG, SMBC, and Mizuho reportedly plan to jointly issue fiat-pegged stablecoins in fiscal 2026, signaling Japan’s growing push into bank-led digital payment infrastructure.
Humanity Discloses H Token Dual-Chain Attack Details, With Losses on Ethereum and BSC Exceeding $36 Million
Humanity said the H token attack across Ethereum and BSC caused more than $36 million in losses after leaked ProxyAdmin keys enabled malicious contract upgrades and token minting.
White House Discusses CLARITY Act With Law Enforcement Ahead of Senate Vote
The White House discussed the CLARITY Act with law enforcement ahead of a Senate vote, focusing on illicit finance risks and developer protections.
OpenAI Reveals It Has Confidentially Submitted an S-1 to the SEC, Keeping the Door Open for a Future IPO
On June 9, according to an OpenAI announcement, the company recently confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), beginning the preliminary compliance process for a potential initial public offering. OpenAI said it chose to disclose this proactively because it expected the news might leak; however, the company has not yet set a specific listing timeline, and related arrangements may still take some time.
Latest research from 13 top universities including Cornell University: The current state, challenges, and misconceptions of the fusion of Crypto and AI
Deconstructing Anthropic: The Best AI Company, Possibly Also a Type of Organizational Invention
Apollo and Blackstone Reportedly Back $35 Billion Anthropic Chip Financing as Deal Details Remain Unclear
On June 9, according to currently available news alerts, Apollo and Blackstone Group participated in a $35 billion financing for an Anthropic “chip project.” Based on the original wording of the report, the funding has already been raised, but public information remains limited. The financing structure, use of proceeds, project entity, and whether Apollo and Blackstone participated through equity, debt, or project financing have not yet been disclosed.
Humanity Protocol Security Incident Escalates: More Than $31 Million Stolen From Related Addresses as Attacker Continues Selling H for ETH
On June 9, according to monitoring by Onchain Lens, more than $31 million has been stolen from addresses linked to Humanity Protocol, and the attack is still ongoing, with the hacker continuously swapping H tokens for ETH. Project founder Terence Kwok later confirmed the security incident on X, saying the issue involved a private key leak.
Bloomberg: As Bitcoin Weakens, Stablecoins and RWA Continue to Drive Expansion in Crypto Businesses
In June, Bloomberg reported that despite Bitcoin falling below $60,000 last week, wiping out about $235 billion in market value within seven days, and dropping close to 50% from last year’s peak, some core businesses in the crypto industry are still expanding, mainly in stablecoins, real-world asset tokenization (RWA), payments, and infrastructure. The report also noted that overall altcoin activity has contracted significantly: altcoin market capitalization has fallen from a peak of about $431 billion in November 2021 to around $170 billion, and among the tens of millions of tokens issued in recent years, fewer than 1,700 still maintain meaningful trading activity.
