Top billionaires rise and fall under tariff storm: Buffett's wealth defies the trend, increasing by $11.5 billion, while Musk's net worth falls below $300 billion.

Prior to this, President Donald Trump's tariff policy triggered a market sell-off, causing trillions of dollars in market value to evaporate worldwide, and greatly impacting the wealth of global top billionaires. Among them, on Monday, Tesla, Inc. (TSLA.US) CEO Elon Musk's wealth fell below $300 billion for the first time since November last year, while Warren Buffett was one of the few individuals to achieve personal wealth growth this year. According to the Bloomberg Billionaires Index, Buffett's net worth increased by $11.5 billion this year, reaching $153.5 billion. On April 2, his net worth reached the highest level in five years, although since April 2, the investor based in Omaha, Nebraska has decreased his net worth by $14.5 billion. At 94 years old, Buffett is now the fourth richest person globally, and among the top 20 richest in the world, only two individuals have seen wealth growth this year, with him being one of them. The other one is L'Oreal heiress Francoise Bettencourt Myers, whose wealth increased by $1.8 billion, ranking 19th on the Bloomberg Billionaires Index. Since April 2, the stock price of Buffett's Berkshire Hathaway company has dropped by 8.8%, compared to the Standard & Poor's 500 Index, which dropped by 10.7%. The relatively strong performance of this conglomerate reflects that the property and casualty insurance industry has largely remained unaffected by global trade. Additionally, some investors expect Buffett to take advantage of the market downturn to make large-scale purchases. In recent quarters, he has avoided major transactions and instead reduced his stake in Apple Inc. (AAPL.US) and Bank of America Corp (BAC.US). Since Trump announced the tariff policy, the stock prices of both companies have dropped by double digits. Musk's wealth falls below $300 billion In the two trading days following Trump's announcement of the tariff policy, the top 500 wealthiest people in the world collectively lost over $500 billion. The tariff policy had a broad impact, and even those closely related couldn't escape unscathed. According to the Bloomberg Billionaires Index, on Monday, Elon Musk, who still holds the title of the world's richest person, saw his wealth drop to $297.8 billion, falling below $300 billion for the first time since November last year. Previously, he had already lost $31 billion on Thursday and Friday. On Monday, Tesla, Inc. stock prices continued to fall, causing Musk to lose another $4.4 billion, bringing his losses this year to $134.7 billion. Since the mid-December historical high, the company's stock price has dropped by over 50%. On Monday, Musk was the sixth largest billionaire in wealth loss on the Bloomberg Global 500 Billionaires List. Overall, the index fell by $271 billion that day, marking the third worst performance in history. The rapid decline in Musk's wealth marks a stunning reversal. After Trump's election, Tesla, Inc. stock prices soared, pushing Musk's wealth to an all-time high. Since then, his role as a prominent advisor to Trump has made Tesla, Inc. a target for protests and disruptions domestically and abroad. This billionaire CEO's controversial behavior and social media activities are making potential buyers hesitant and causing Tesla, Inc. owners to distance themselves from his political positions and the damaged company brand. Over the weekend, Musk stated that he hopes to establish a "zero tariff" system between the United States and Europe, effectively creating a "free trade area." On Monday, Tesla, Inc. board member Kimbal Musk criticized tariffs as a "structural, permanent tax imposed on American consumers." Kimbal Musk wrote on the social platform X, "Even if he succeeds in bringing job opportunities back to the United States through tariffs, prices will remain high because we are not equally excellent in producing all products, so this consumption tax will continue to exist in the form of high prices."