Trump's Tariff Pause Made All These Businessmen Even Richer

On 9 April 2025, President Donald Trump unleashed a seismic shockwave across global markets by announcing a 90-day pause on his fiercely aggressive trade tariffs, a jaw-dropping reversal that flipped a week of paralysing economic turmoil into an extraordinary windfall for America's wealthiest tycoons.

What had been a grim period of plummeting stocks and investor panic transformed overnight into a euphoric market surge. The Dow Jones rocketed by an unprecedented 3,000 points, etching its name in history as the largest single-day gain ever recorded, while the Nasdaq vaulted 12.2%, electrifying traders worldwide.

This dramatic turn sets the stage to explore how Trump's gambit enriched the elite, while leaving ordinary consumers and businesses grappling with what comes next.

From Crash to Cash: The Market Rebound

Trump's tariffs, launched on 2 April 2025 as 'Liberation Day,' slammed imports with rates up to 125% on China, and other cratering markets. The Dow plunged 1,679 points, wiping £7.5 trillion ($9.7 trillion) off American firms. British retailers like Marks & Spencer feared a £2 billion ($2.6 billion) hit from disrupted supply chains. Investors, dreading a trade war, sent stocks tumbling.

Then, Trump paused tariffs for most countries, setting a 10% rate except for China. Stocks exploded upward. Tech giants Tesla, Amazon, and Meta soared 22%, 12%, and 14%, respectively.

Hedge funds that bet against the dip raked in £3 billion ($3.9 billion), but the real winners were billionaires with massive stakes in rallying firms. The pause wasn't just a reprieve; it was a golden ticket for those positioned to profit.

This explosive rally showered billions on corporate titans like Elon Musk, Jeff Bezos, and Mark Zuckerberg, whose fortunes swelled as their companies' shares soared. Yet, the sudden pivot sparked heated speculation: who was poised to capitalise on this chaos, and did some have advance hints of Trump's move?

The Billionaires Who Banked Big

Trump's Truth Social post hours before the pause, urging it was a 'great time to buy,' hinted at opportunity. Those ready to act reaped rewards. Here's who topped the list:

• Elon Musk: Tesla's stock surge added £28 billion ($36 billion) to Musk's wealth, pushing his net worth to £254 billion ($330 billion).
• Jeff Bezos: Amazon's 12% jump boosted Bezos by £14.4 billion ($18.5 billion), with his fortune hitting £174 billion ($226 billion).
• Mark Zuckerberg: Meta's rally lifted Zuckerberg's wealth by £20 billion ($25.8 billion), bringing him to £162 billion ($208 billion).

These gains, fuelled by the market's relief, highlight how volatility can pad the pockets of those with the most shares. British tycoons like Jim Ratcliffe also saw gains, with INEOS stock up £1 billion ($1.3 billion).

Winners Feast, Others Wait

While billionaires celebrated, the pause left others hanging. Small businesses, unable to ride market waves, face £150 ($195) higher annual costs per global household from lingering 10% tariffs. Shopkeepers and Manufacturers delayed hiring, wary of future tariff hikes.

Trump's team insists the pause pressures countries to negotiate better deals, but critics argue it's a chaotic gift to the wealthy. With China's tariffs at 125%, global trade remains tense. As the 90-day countdown ticks, the question looms: will the billionaires keep winning, or will the rest catch up? Only time will tell if this pause was a masterstroke or a fleeting gift to the elite.

Originally published on IBTimes UK