$100 billion wiped out? What world’s richest lost, regained since war began

Dubai: Global market volatility tied to tensions involving Iran triggered one of the sharpest short-term swings in billionaire wealth this year, wiping out more than $100 billion from the world’s richest individuals in March before a rapid rebound in April restored most of those losses.

Data from Forbes shows the combined net worth of the world’s ten richest people fell to roughly $2.5 trillion at the start of April, down by over $100 billion during March alone, as major US indices declined by nearly 5%.

Nine of the top ten billionaires recorded declines. Elon Musk remained the world’s richest person despite losing $22 billion over the month, bringing his fortune to $817 billion.

Larry Page ranked second with a $20 billion drop to $237 billion, while Jeff Bezos moved into third place after a relatively modest $1 billion decline. Sergey Brin slipped to fourth, losing $18 billion.

The steepest fall came from Bernard Arnault, whose net worth dropped by $28 billion to $142.5 billion, pushing him down from seventh to tenth place.

Amancio Ortega lost $20 billion and fell out of the top ten to 14th position, while Warren Buffett declined by $7 billion, slipping from ninth to eleventh.

The only gain among the top ten came from Michael Dell, whose fortune rose by $2 billion, lifting him to eighth place. Rob Walton entered the top ten despite a slight decline in wealth.

Only four individuals retained their rankings during this period, underscoring the scale of the reshuffle.

Market sentiment shifted sharply in the first week of April.

The combined wealth of the top ten climbed to approximately Dh9.51 trillion ($2.59 trillion), effectively reversing the more than $100 billion erased in March.

Musk’s fortune surged to $839 billion (Dh3.08 trillion) by April 7, recovering more than Dh80 billion in a single week. Page’s net worth rose to $257 billion (Dh943.19 billion), gaining roughly Dh73.4 billion over the same period.

Ranking positions shifted again. Brin reclaimed third place with $237 billion (Dh869.79 billion), while Bezos moved to fourth at $224 billion (Dh822.08 billion). Mark Zuckerberg held fifth with $222 billion (Dh814.74 billion).

Further down the list, Larry Ellison ranked sixth at $190 billion (Dh697.3 billion). Arnault staged the most significant rebound, gaining nearly Dh105 billion in under a week to reach $171 billion (Dh627.57 billion) and climb back to seventh place.

Jensen Huang ranked eighth with $154 billion (Dh565.18 billion), supported by continued demand in the semiconductor sector. Buffett re-entered the top ten at ninth with $149 billion (Dh546.83 billion), while Ortega returned in tenth place at $148 billion (Dh543.16 billion) .

Real-time tracking shows that volatility persisted even after the rebound.

Musk’s net worth adjusted to $803.4 billion (Dh2.95 trillion) in subsequent updates. Page held second place at $247.1 billion (Dh907.47 billion), followed by Brin at $228.1 billion (Dh837.70 billion), who again moved ahead of Bezos at $226.2 billion (Dh830.72 billion).

Zuckerberg’s fortune stood at $196.8 billion (Dh722.75 billion), maintaining fifth place, while Ellison remained sixth at $186.8 billion (Dh686.02 billion). Huang held seventh at $153.9 billion (Dh565.20 billion).

At the lower end of the top ten, Dell edged up to eighth with $147.1 billion (Dh540.22 billion). Arnault recovered slightly further to ninth at $146.7 billion (Dh538.76 billion), while Walton rounded out the list at tenth with $145.0 billion (Dh532.51 billion).

Outside the top ten, Buffett stood at $141.4 billion (Dh519.29 billion) in twelfth, and Ortega at $132.0 billion (Dh484.77 billion) in fourteenth, both recording modest gains as markets stabilised .

The world’s richest lost more than $100 billion in March, but saw their combined wealth rebound to $2.59 trillion in early April, largely restoring those losses within days, even as daily fluctuations continue.

The data highlights how tightly concentrated wealth at the top remains linked to equity markets. Shifts in sentiment driven by geopolitical risk can erase — and restore — tens of billions in a matter of days, with rankings reshuffled just as quickly.