Elon Musk's fortune has dropped to $298 billion USD, and since the beginning of the year he has lost over $130 billion USD, but he is still in first place among the richest people on the planet, according to data from the "Billionaires Index" published by Bloomberg agency.
Musk, Mark Zuckerberg (3), Warren Buffett (4) and Oracle co-founder Larry Ellison (7) lost at least $10 billion USDD each in a matter of hours due to stock market fluctuations. This happened as a result of the decision of the US President Donald Trump to increase tariffs on goods imported into the US from various countries.
As previously reported, Musk, who heads the US Government Efficiency Agency, directly asked the White House to reconsider the additional import duties imposed on a reciprocal basis. The multi-billionaire has long considered the tariffs harmful to the business of his company Tesla, for which the US and China are key production and sales centers. Analysts say the new tariffs are likely to hit other car manufacturers hard as well.