Here’s why many global millionaires are expected to lose almost $500,000,000,000 in only 48 hours.

According to Forbes statistics issued last year, the combined wealth of the top 12 billionaires grew dramatically compared to previous data, implying that the affluent are becoming wealthier.

The billionaires list and their combined fortune sparked discussion on Reddit, with the great majority startled by the astronomical total of $2 trillion.

While billionaires like Elon Musk and Mark Zuckerberg remain extremely wealthy, their net worth has fallen since Donald Trump returned to the White House as president in January.

According to the Bloomberg Billionaires Index, Musk, Zuckerberg, Jeff Bezos, Bernard Arnault, and Sergey Brin’s aggregate fortune fell by $209 billion just seven weeks after Trump’s second term began.

According to the journal, this was due to the S&P 500 index plunging by over 7% since Trump’s return to the presidency.

Since then, the Republican president has indicated that a 10% ‘baseline’ tax will apply internationally, with higher rates imposed on a 60-country list known as Trump’s ‘worst offenders.’

The additional tariffs were announced during a White House Rose Garden address on Wednesday (April 2), which Trump named ‘Liberation Day’ for the United States.

Bloomberg reported that in the weeks between Trump’s victory and his inauguration, the S&P 500 index achieved numerous historical highs as investors flocked to the stock and cryptocurrency markets.

And now, the world’s 500 richest people have experienced the largest two-day drop on the Bloomberg Billionaires Index as a result of President Trump’s initiatives.

From Thursday’s (April 3) stock market open to Friday’s (April 4) close, billionaires on the wealth list lost a total of $536 billion as the S&P 500 Index fell significantly in less than 48 hours.

Many others have spoken out against Trump’s tariffs in recent days, including former President Barack Obama.

In a speech at Hamilton College in Clinton, New York, on Thursday (April 3), Obama said, “Look, I don’t think what we just saw in terms of economic policy and tariffs will be good for America, but that’s a specific policy.

“I’m more concerned about a federal government that threatens colleges if they don’t hand over students expressing their right to free expression.

“I’m more concerned about the idea that a White House can tell law firms, ‘If you represent parties we don’t like, we’ll pull all our business or bar you from representing people effectively.'”

“That kind of behavior is contrary to the basic compact we have as Americans.”