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Only one American billionaire made money this year despite Trump's tariffs; it's not Musk, Bezos or Zuckerberg
Trump-supporting billionaires Elon Musk, Mark Zuckerberg, and Jeff Bezos lost billions this year, while only one American billionaire saw his net worth rise.
The world’s 500 richest people collectively lost $536 billion in stock market trading on April 3 and 4 following President Donald Trump’s tariff announcement last Wednesday, The Guardian reported. Among those affected were Trump-supporting billionaires Elon Musk, Mark Zuckerberg, and Jeff Bezos, who saw their fortunes shrink by billions. According to Bloomberg’s Billionaires Index, Tesla founder Musk has lost $143 billion this year, Amazon founder Bezos' net worth has dropped by $44 billion, and Meta CEO Zuckerberg’s wealth is down by $26 billion.
However, one American billionaire in the top 20 wealthiest stands out as an exception: Warren Buffett. Despite the market turmoil triggered by Trump’s tariffs, the Berkshire Hathaway CEO saw his net worth rise by nearly $12 billion in 2025. He did, however, experience a $2.57 billion loss during the two-day market slump.
How did Warren Buffett manage to make money?
CNBC reported that Buffett used a "cautious approach" to build a record cash reserve of $334 billion by the end of 2024.
In his February 22 letter to shareholders, Buffett, the world’s fourth-wealthiest person, explained that he hadn’t invested the money because “nothing looks compelling.”
As a result, Berkshire Hathaway’s stock rose in 2025, up more than 11% since the beginning of the year. Despite a 6.5% drop since April 2, the company’s performance remains relatively strong.
According to CNBC Pro, some investors now see Berkshire Hathaway as a safe haven amid market volatility.
Did Buffett endorse Trump’s tariffs?
Two days after the tariff announcement, Trump posted a video on Truth Social falsely claiming that Buffett had praised his recent economic policies. However, Buffett denied making any such endorsement.
Berkshire Hathaway issued a statement clarifying the situation: “There are reports currently circulating on social media (including Twitter, Facebook and Tik Tok) regarding comments allegedly made by Warren E. Buffett. All such reports are false.”
