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Musk still the richest man on Earth after his net worth falls to $298 bln — Bloomberg

Elon Musk along with Mark Zuckerberg, Warren Buffett and Larry Ellison lost at least $10 billion each in a matter of hours due to fluctuations in the stock markets

NEW YORK, April 8. /TASS/. The net worth of Elon Musk has fallen to $298 billion and since the beginning of the year the American entrepreneur has lost more than $130 billion, according to the Bloomberg Billionaire Index. Nevertheless, Musk still ranks first among the wealthiest people on the planet.

Musk along with CEO of Meta corporation (recognized as an extremist organization in Russia) Mark Zuckerberg (3), CEO of Berkshire Hathaway Warren Buffett (4) and co-founder of Oracle Larry Ellison (7) lost at least $10 billion each in a matter of hours due to fluctuations in the stock markets.

This happened as a result of the decision by US President Donald Trump to increase tariffs on goods imported by the United States from various countries.

According to The Washington Post, Musk, who heads the US Department of Government Efficiency (DOGE), directly asked Trump to reconsider the additional import duties imposed on the principle of reciprocity, but to no avail. The multi-billionaire has long considered the tariffs to be detrimental to the business of his company Tesla, for which the US and China are key centers of production and sales. According to analysts, the new tariffs are likely to hit other automakers severely as well.

On April 2, Trump announced the introduction of customs duties on products from 185 countries and territories. Russia is not on this list. Universal 10% tariffs came into force on April 5, while individual tariffs will go into effect on April 9. In addition, the US administration introduced customs duties of 25% on all imported cars from April 3.