Global billionaires increased their holdings in US stocks before "Liberation Day".

According to 13F regulatory filings, in the days leading up to the market turmoil triggered by Trump's "Liberation Day," European dynastic family offices, hedge fund billionaire Noam Gottesman, and duty-free shopping tycoon Alan Parker all increased their investments in US stocks in the three months ending on March 31. The filings show that Alta Advisers, an investment company based in London serving members of the Swedish billionaire Wallenberg family, increased its holdings in over 100 US-listed companies during this period, including tech giants like NVIDIA, Apple, and Amazon. Gottesman's Toms Capital also added to its positions in NVIDIA and 8 other stocks, while the Parker family's Kemnay Advisory Services increased its holdings in over a dozen US-listed companies. These moves highlight how many investors were caught off guard by the turmoil triggered by Trump's announcement on April 2 of significant tariff increases. This news rocked the financial markets, causing the US stock market to lose around $6 trillion in market value in just two trading days, with the S&P 500 index later rebounding by about 19%. Some global billionaires, including Mexico's Carlos Slim and Sweden's Wallenberg dynasty, increased their holdings in stocks they already owned during the market chaos, resulting in substantial unrealized gains for them.