World’s richest add $304 billion in single-day surge following Trump’s customs pause

10 April 2025 , 19:16

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World’s richest add $304 billion in single-day surge following Trump’s customs pause

On April 9, the world’s richest people added $304 billion to their combined wealth, marking the largest single-day increase in the history of the Bloomberg Billionaires Index. The reason for this surge was the rise in stock prices amid Trump’s customs pause.

This was reported by Bloomberg.

The S&P 500 index jumped the most since 2008, and the Nasdaq Composite also rebounded, posting its strongest gain in more than 24 years after U.S. President Donald Trump announced the suspension of customs tariffs for some trading partners.

According to Bloomberg, the largest individual gains in wealth were recorded by Tesla CEO Elon Musk (up $36 billion), Facebook founder Mark Zuckerberg (up $26 billion), and Jensen Huang from Nvidia Corp., whose wealth increased by $15.5 billion as the chipmaker’s stock rose by 19% (recovering from a 13% drop the previous week).

The record day came after last week’s market crash following Trump’s announcement of unprecedented customs tariffs. The scale of the proposed tariffs exceeded most analysts’ expectations, leading to the largest capital losses since Bloomberg began tracking its billionaire index in 2013.

"The total wealth increase on Wednesday surpassed the previous record of $233 billion, set in March 2022, after Federal Reserve Chairman Jerome Powell raised interest rates for the first time in many years but reassured investors that the economy remained resilient," the agency notes.

George MacGregor