How Much Money Bill Gates Lost in the Stock Market
It was another wild day for stocks on April 7, with the Dow Jones Industrial Average falling for a third consecutive day after the announcement of U.S. tariffs being rolled out.
As for the numbers, the Dow Jones Industrial Average went down by 349.26 points, or 0.91%, to close at 37,965.60. The S&P 500 ended the session at 5,062.25, going down 0.23%. The tech-heavy Nasdaq Composite, in some good news, went a touch higher and closed up 0.10% at 15,603.26.
In the last three trading sessions, the S&P 500 has seen its worst losses since the pandemic in 2020. One of the hardest hit companies through the tariff turmoil is Apple, with the company's shares closing 3.7% lower. Overall, Apple has lost almost $640 billion in market cap over the past three trading days. But, the U.S. tariffs are still a go, and the White House says it's sticking to its plan of implementing high tariffs starting April 9.
The stock market volatility is taking its toll on people's 401(k), but regular Americans aren't the only ones suffering. Billionaires are feeling the pinch, too.
So, how is Bill Gates doing through all the turmoil? According to Business Insider, Gates lost $291 million, or 0.2%, of his wealth following the tariff announcements. It's possible he's lost more at this point, however, since this figure was published on April 4 and doesn't included losses incurred on April 7.
Gates, the co-founder of Microsoft, has a net worth of $162 billion, according to the publication.
"Most of his $162 billion in wealth is managed through Cascade Investment, a private firm that holds major stakes in companies like the Four Seasons Hotels," Business Insider adds. "Gates also runs the Bill & Melinda Gates Foundation, a philanthropy organization that supports global health, education and climate initiatives."
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