Musk to Zuckerberg: Here's how much money Trump's tech bros made after tariff pause

Trump's 90-day tariff pause announcement sent the stock market rocketing and the world's wealthiest people added $304 billion to their combined net worth

Published on: Apr 10, 2025, 06:28:38 IST

By Yash Nitish Bajaj

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President Donald Trump's 90-day tariff pause announcement sent the stock market rocketing and the world's wealthiest people added $304 billion to their combined net worth on Wednesday - the largest one-day gain in Bloomberg Billionaires Index's history. This comes as Meta and Tesla jumped over 10% after a week of heavy losses.

Elon Musk and Mark Zuckerberg were among the highest gainers on Wednesday (Bloomberg)

The S&P 500 rose 9.52% to 5,456.90 on Wednesday - its biggest one-day gain since 2008. The Dow Jones Industrial Average advanced 2,962.86 points, or 7.87%, and the Nasdaq Composite jumped 12.16% after the 90-day relief was announced.

The record day comes on the heels of last week's sell-off following President Trump's tariff announcement. However, it was payday on Wednesday as the total wealth gain beat the previous record of $233 billion set in March 2022.

How did Trump's tech bros do?

The largest individual gainer from Trump's pause announcement was Elon Musk's Tesla Inc. The tech billionaire added $36 billion to his fortune after his EV maker's stock jumped 23%, Bloomberg revealed. Mark Zuckerberg gained almost $26 billion.

Next in line was Nvidia Corp.’s Jensen Huang, who saw his wealth rise $15.5 billion. The chipmaker's shares shot by 19%.

However, percentage-wise it was Ernest Garcia III, the CEO of Carvana Co., who came out as the winner. His fortune increased 25%.

Apple's stock soared more than 15% and Walmart rallied 9.6%. At the time Trump declared the tariff pause, at 1:18 PM ET, the Dow was about 350 points higher for the day. However, within moments, the 30-stock index surged more than 2,000 points.

Explaining why he made the pause move, Trump said: “I thought that people were jumping a little bit out of line. They were getting yippy, you know, they were getting a little bit yippy, a little bit afraid."

ABOUT THE AUTHOR
Yash Nitish Bajaj
Yash Bajaj is a Chief Content Producer with a strong foundation in US coverage, digital strategy, and audience-focused storytelling. As part of the US Desk at Hindustan Times, he covers a wide range of topics - from American politics to sports (NFL, NBA, derbies, MLB and more). Before joining Hindustan Times, Yash served as Deputy News Editor at Times Now, where he oversaw international coverage and led a team of six. In this role, he significantly expanded global traffic through strategic planning, SEO-driven content execution, and meticulous trend tracking across platforms. He is experienced in managing high-pressure breaking-news shifts, coordinating live coverage, and building newsroom systems that improve speed, accuracy, and reach. Prior to Times Now, Yash held a position at Opoyi, where he headed the Sports and US news team. He developed broad editorial strategies, guided reporters across multiple beats, and played a key role in recruiting and training new talent. His responsibilities also extended to social media management and experimenting with innovative content formats. A passionate NFL fan, Yash is a die-hard supporter of the Cincinnati Bengals and has followed Joe Burrow closely since his college days at LSU. Whether breaking down top players' latest performance, analyzing team performances, or tracking roster moves, he brings the same dedication and sharp storytelling to his sports coverage as he does to American politics and breaking news. When he’s not writing, Yash can often be found watching games or debating the latest NFL storylines with fellow fans. Yash holds a Bachelor of Mass Media (Journalism) from HR College, Mumbai University. His interests extend well beyond the newsroom: he is an enthusiastic explorer of AI tools, a movie buff with an ever-growing watchlist, and someone who enjoys unraveling conspiracy theories for fun.Read More

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