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The world’s 10 richest people lost nearly $70 billion in Friday’s market rout

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A composite image of Larry Ellison and Elon Musk
Larry Ellison is one of the world’s richest men, so he can buy anything he wants, like a media company or two. That’s what Elon Musk did with Twitter.

  • The planet’s 10 richest people saw their collective wealth shrink by nearly $70 billion on Friday.
  • Markets roiled after Trump threatened an extra 100% tariff on Chinese goods, then said, “Don’t worry.”
  • Elon Musk took a $16 billion blow, while Jeff Bezos and Mark Zuckerberg each took $10 billion hits.

The world’s 10 richest people lost nearly $70 billion on Friday as fresh fears of a global trade war rattled markets.

The value of their stock holdings tumbled after President Donald Trump said the US would impose an additional 100% tariff on imports from China from November 1, and restrict its access to “any and all critical software,” after China tightened export controls on rare earth elements and other key materials for advanced tech manufacturing.

Tesla stock slid 5% on Friday, shrinking CEO Elon Musk‘s wealth by about $16 billion, the Bloomberg Billionaires Index shows. Amazon founder Jeff Bezos and Meta CEO Mark Zuckerberg saw around $10 billion erased from their respective net worths as the e-commerce giant’s stock fell 5% and the social media titan’s shares dropped almost 4%.

Nvidia CEO Jensen Huang took an $8 billion hit as the chipmaker’s stock fell nearly 5%, while Oracle cofounder Larry Ellison and Dell CEO Michael Dell both saw their fortunes shrink by more than $5 billion as shares of their companies retreated on worries of slower growth and more trade disruption. In all, the world’s 10 wealthiest people saw a $69 billion wealth reduction.

Trump sought to reassure markets, posting to Truth Social on Sunday, “Don’t worry, It will all be fine.” Shares of Nvidia, Tesla, and Dell were trading 3% higher ahead of Monday’s open as of 6:40 a.m. ET.

The 10 richest people’s wealth loss sounds painful, but they were still collectively worth over $2.9 trillion at Friday’s close, led by Musk’s $437 billion, Ellison’s $351 billion, Zuckerberg’s $248 billion, and Bezos’ $240 billion.

They were still $385 billion in the green for this year as of Friday, with a $159 billion year-to-date wealth gain for Ellison alone, fueled by Oracle’s 75% stock surge in 2025.

All of them except LVMH CEO Bernard Arnault rank among the largest shareholders of US tech giants, meaning they’ve benefited significantly from the buzz around AI that has boosted tech stocks this year.

Read the original article on Business Insider

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Kremlin warns Moldova over pro-European course amid growing tensions

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Peskov threatens consequences as Moldova aligns with Europe

On October 12, 2025, Kremlin spokesman Dmitry Peskov warned that Moldova would face “nothing good” if it continued its path of distancing itself from Russia in favor of closer ties with Europe. His remarks came in response to Moldova’s newly adopted military strategy, which explicitly labels Russia as the country’s primary security threat.

Peskov, speaking to TASS, accused Moldova’s leadership of making “a serious mistake” by choosing a policy that he claimed antagonizes Russia. Without naming Ukraine, he alluded to previous consequences faced by other countries that had turned towards Europe, stating, “One country has already made this mistake. Nothing good came of it.”

Moldova identifies Russia as primary threat in new defense strategy

Peskov’s comments came just days after the Moldovan government approved its new National Defense Strategy through 2035. The document, endorsed on October 8, outlines key risks to national security, prominently highlighting Russia’s war against Ukraine and the risk of the conflict spilling over into Moldova. The strategy also cites the presence of roughly 1,000 Russian troops in the breakaway region of Transnistria as a threat.

In response to these risks, Chișinău has announced plans to increase its armed forces by one-third and raise defense spending to 1% of GDP. The country will also begin transitioning its military standards to align with NATO.

Political tensions deepen after Moldova’s pro-European election outcome

The Kremlin’s warning follows the victory of the pro-European Party of Action and Solidarity in Moldova’s parliamentary elections on September 28, reinforcing President Maia Sandu’s mandate. Sandu has repeatedly accused Russia of interfering in Moldova’s domestic politics, including attempts to sway the recent vote in favor of pro-Russian forces.

Referring to Moldova’s leadership, Peskov lamented that they had “remained in power” and continued what he called an “unfriendly course” toward Moscow.

Kremlin’s rhetoric mirrors pre-2014 Ukraine strategy

Analysts view Peskov’s statement as part of a broader Kremlin strategy of using intimidation to pressure neighbors pursuing European integration. The language and tone of Moscow’s message mirror the pattern seen with Ukraine in 2013–2014, when Russia attempted to dissuade Kyiv from signing the EU Association Agreement through a mix of threats and coercion.

Moscow’s message to Chișinău signals that Russia is willing to escalate hybrid pressure—political, economic, and informational—against countries it perceives as moving out of its geopolitical orbit. While the Kremlin stops short of threatening direct military action, its warnings serve to undermine regional stability and challenge Moldova’s sovereign policy decisions.

EU implications and the need for strategic alignment

Peskov’s remarks also carry broader implications for the European Union. By targeting Moldova—a country seeking EU membership—Russia is effectively expanding its sphere of pressure to the EU’s eastern frontier. European policymakers are now faced with the challenge of responding not just to military threats in Ukraine, but also to coercive tactics in Moldova and potentially other neighbors.

For Brussels, this underscores the urgency of enhancing support for Moldova’s democratic reforms and security resilience. European assistance—both financial and military—may become a crucial buffer against Russian pressure.

Kremlin rhetoric risks backfiring

If Russia’s experience in Ukraine is any indication, aggressive rhetoric may ultimately strengthen pro-European sentiment rather than weaken it. Peskov’s threats could bolster domestic support for Moldova’s efforts to modernize its military, reinforce democratic institutions, and deepen integration with Euro-Atlantic structures.

For President Sandu and her administration, the Kremlin’s warnings may serve as further justification for accelerating defense reform and building stronger ties with NATO and the EU. Rather than deterring Moldova, Moscow’s pressure could push Chișinău closer to the West.

Domestic messaging and geopolitical narrative-building

Beyond external signaling, Peskov’s statement also serves a domestic propaganda function. By portraying Moldova’s leadership as hostile and Western-aligned, the Kremlin reinforces the narrative of a Russia besieged by unfriendly neighbors. This plays into President Vladimir Putin’s longstanding strategy of mobilizing domestic support through a sense of external threat—particularly as the war in Ukraine drags on and economic pressures mount at home.

In this context, the warning to Moldova is not just a regional signal, but part of a broader campaign to justify the Kremlin’s confrontational foreign policy and consolidate internal political control.


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Meghan Markle’s Reaction to Prince Harry’s Outrageous PDA Goes Viral

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The OFFICIAL Texans @ Ravens Score Prediction Thread

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Hi, and thanks for visiting the best Ravens forum on the planet. In order to interact with your purple brethren, please **register** It only takes a couple of minutes. Please note that during Ravens games, we may restrict unregistered guests, so come join the flock!

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RT by @mikenov: Trump Greeted by Huge Standing Ovation and Trump Hats at the Knesset

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Trump Greeted by Huge Standing Ovation and Trump Hats at the Knesset

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President Donald Trump is in Israel where he received a standing ovation and was greeted by a sea of red hats at the Knesset – following the historic cease-fire and release of hostages.

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RT by @mikenov: BREAKING: 🇺🇲🇮🇱 Trump’s envoy Witkoff and son-in-law Kushner met directly with Hamas leader Khalil al-Hiya

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Israeli twin brothers Ziv, Gali Berman reunite for first time in 2 years following their release from Hamas captivity

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Netanyahu Declines Invite to Egypt Summit on Israel-Hamas War

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Majority of Miami Residents Have Considered Leaving Over Costs

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More than 50% of Miami-Dade residents have “actively considered” leaving because of the high cost of living—especially housing.

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