Billionaires who attended Donald Trump’s inauguration saw billions wiped off their fortunes on Thursday as the president’s sweeping tariffs on U.S. imports sent global markets into freefall.

The market shock came after Trump announced the new levies on Wednesday afternoon, targeting more than 180 countries and resulting in the stock market’s worst single-day performance since the COVID pandemic.

According to the Bloomberg Billionaires Index—a daily ranking of the world’s wealthiest people—several billionaires who attended Trump’s swearing-in on Jan. 20 saw substantial declines in their personal wealth on Thursday due to Trump’s escalating trade war.

Amazon founder Jeff Bezos saw his fortune shrink by a whopping $15.9 billion as Amazon shares plummeted 9 percent, marking the company’s steepest one-day decline since April 2022. The company’s stock is now down over 25 percent from its peak in February, according to Bloomberg.

But Bezos’ loss was eclipsed by the ill fortune of Meta CEO Mark Zuckerberg, the day’s biggest loser. The Facebook founder, who is trying just about everything he can to curry favor with Trump, lost a staggering $17.9 billion—around 9 percent of his total wealth. Meta’s stock was down 9 percent on Thursday.

Trump’s billionaire “first buddy” Elon Musk also suffered from the global market turmoil, with his net worth dropping by $11 billion on Thursday. Tesla’s stock had already been rapidly declining in part due to his role in the administration as head of the Department of Government Efficiency (DOGE), which is on a mission to slash government spending.

Google co-founder Sergey Brin also lost $4.5 billion in just a single day after Trump unveiled his sweeping tariffs, while luxury goods titan Bernard Arnault, head of LVMH Moët Hennessy Louis Vuitton, suffered a loss of $6.2 billion.

Trump supporters Miriam Adelson and former Fox News Chairman Rupert Murdoch weren’t spared either, losing $942 million and $590 million respectively, while India’s richest man, Mukesh Ambani suffered a $73.3 million loss.

“I think it’s going very well,” Trump told a reporter on Thursday when asked for his thoughts on the aftermath of his tariffs announcement.

Some of his wealthy supporters may beg to differ.