World's 500 Richest Lose $536 Billion in Just Two Days

In Brief:

The top 500 billionaires lost $536 billion in net worth amid this week's U.S. stock market crash.

This marks the largest two-day wealth wipeout on record, surpassing March 2020's COVID crash.

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The global elite took a historic hit this week as financial markets buckled under pressure from aggressive U.S. tariffs and renewed recession fears. According to Bloomberg data shared by The Kobeissi Letter, the world’s 500 richest individuals lost a staggering $536 billion in net worth over just two trading days—April 3 and 4.

This loss surpasses the previous record of $453 billion during the early COVID-19 crash on March 11–12, 2020.

The plunge comes on the heels of a massive selloff in U.S. equities, which saw the Nasdaq enter a bear market and the S&P 500 suffer its worst week since 2020. Tech stocks, in particular, were hammered, with companies like Apple and Nvidia seeing double-digit losses in a matter of hours.

As global markets reacted to Trump’s sweeping 10% import tariffs and fears of trade wars reignited, asset values across sectors crumbled—erasing hundreds of billions in private wealth.

Investors are now awaiting key U.S. labor data and remarks from Fed Chair Jerome Powell as volatility continues to rattle risk-on assets around the world.

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