diff --git a/src/coreclr/System.Private.CoreLib/src/System/Reflection/Metadata/RuntimeTypeMetadataUpdateHandler.cs b/src/coreclr/System.Private.CoreLib/src/System/Reflection/Metadata/RuntimeTypeMetadataUpdateHandler.cs
index 25f29ed8e596eb..359653c22d716d 100644
--- a/src/coreclr/System.Private.CoreLib/src/System/Reflection/Metadata/RuntimeTypeMetadataUpdateHandler.cs
+++ b/src/coreclr/System.Private.CoreLib/src/System/Reflection/Metadata/RuntimeTypeMetadataUpdateHandler.cs
@@ -1,6 +1,7 @@
 // Licensed to the .NET Foundation under one or more agreements.
 // The .NET Foundation licenses this file to you under the MIT license.
 
+using System.Diagnostics.CodeAnalysis;
 using System.Reflection.Metadata;
 
 [assembly: MetadataUpdateHandler(typeof(RuntimeTypeMetadataUpdateHandler))]
@@ -10,16 +11,76 @@ namespace System.Reflection.Metadata
     /// <summary>Metadata update handler used to clear a Type's reflection cache in response to a metadata update notification.</summary>
     internal static class RuntimeTypeMetadataUpdateHandler
     {
-        public static void BeforeUpdate(Type? type)
+        /// <summary>Clear type caches in response to an update notification.</summary>
+        /// <param name="types">The specific types to be cleared, or null to clear everything.</param>
+        [UnconditionalSuppressMessage("ReflectionAnalysis", "IL2026:RequiresUnreferencedCode", Justification = "Clearing the caches on a Type isn't affected if a Type is trimmed, or has any of its members trimmed.")]
+        public static void BeforeUpdate(Type[]? types)
         {
-            if (type is RuntimeType rt)
+            if (RequiresClearingAllTypes(types))
             {
-                rt.ClearCache();
+                // TODO: This should ideally be in a QCall in the runtime.  As written here:
+                // - This materializes all types in the app, creating RuntimeTypes for them.
+                // - This force loads all assembly dependencies, which might not work well for packages that may depend on resolve events firing at the right moment.
+                // - This does not cover instantiated generic types.
+
+                // Clear the caches on all loaded types.
+                foreach (Assembly assembly in AppDomain.CurrentDomain.GetAssemblies())
+                {
+                    if (!SkipAssembly(assembly))
+                    {
+                        try
+                        {
+                            foreach (Type type in assembly.GetTypes())
+                            {
+                                ClearCache(type);
+                            }
+                        }
+                        catch (ReflectionTypeLoadException) { }
+                    }
+                }
+            }
+            else
+            {
+                // Clear the caches on just the specified types.
+                foreach (Type type in types)
+                {
+                    ClearCache(type);
+                }
+            }
+        }
+
+        /// <summary>When clearing all types, determines whether we should skip types from the specified assembly.</summary>
+        private static bool SkipAssembly(Assembly assembly) =>
+            // Ideally we'd skip all of the core libraries, which can't be edited.
+            // But we can easily skip corelib.
+            typeof(object).Assembly == assembly;
+
+        /// <summary>Clears the cache on the specified type.</summary>
+        private static void ClearCache(Type type) => (type as RuntimeType)?.ClearCache();
+
+        /// <summary>Determines whether we need to clear the caches on all types or just the ones specified.</summary>
+        /// <param name="types">The types to examine.</param>
+        /// <returns>true if we need to clear all types; false if we can clear just the ones specified.</returns>
+        private static bool RequiresClearingAllTypes([NotNullWhen(false)] Type[]? types)
+        {
+            // If we were handed null, assume we need to clear everything.
+            if (types is null)
+            {
+                return true;
+            }
+
+            // If any type isn't sealed, we may need to clear a derived type,
+            // so clear everything.
+            foreach (Type type in types)
+            {
+                if (!type.IsSealed)
+                {
+                    return true;
+                }
             }
 
-            // TODO: https://github.com/dotnet/runtime/issues/50938
-            // Do we need to clear the cache on other types, e.g. ones derived from this one?
-            // Do we need to clear a cache on any other kinds of types?
+            // We were handed types, and they were all sealed, so we can just clear them.
+            return false;
         }
     }
 }
diff --git a/src/libraries/System.Runtime/tests/System/Reflection/ReflectionCacheTests.cs b/src/libraries/System.Runtime/tests/System/Reflection/ReflectionCacheTests.cs
index f295be7f73faf0..4136b2e1d2d566 100644
--- a/src/libraries/System.Runtime/tests/System/Reflection/ReflectionCacheTests.cs
+++ b/src/libraries/System.Runtime/tests/System/Reflection/ReflectionCacheTests.cs
@@ -1,10 +1,12 @@
 // Licensed to the .NET Foundation under one or more agreements.
 // The .NET Foundation licenses this file to you under the MIT license.
 
+using System.Tests;
 using Xunit;
 
 namespace System.Reflection.Tests
 {
+    [Collection(nameof(NoParallelTests))]
     public class ReflectionCacheTests
     {
         [Fact]
@@ -21,17 +23,28 @@ public void GetMethod_MultipleCalls_SameObjects()
 
         [ActiveIssue("https://github.com/dotnet/runtime/issues/50978", TestRuntimes.Mono)]
         [Fact]
-        public void GetMethod_MultipleCalls_ClearCache_DifferentObjects()
+        public void InvokeBeforeUpdate_NoExceptions()
         {
-            Type updateHandler = typeof(Type).Assembly.GetType("System.Reflection.Metadata.RuntimeTypeMetadataUpdateHandler", throwOnError: true, ignoreCase: false);
-            MethodInfo beforeUpdate = updateHandler.GetMethod("BeforeUpdate", BindingFlags.Public | BindingFlags.NonPublic | BindingFlags.Static, new[] { typeof(Type) });
-            Assert.NotNull(beforeUpdate);
+            Action<Type[]> beforeUpdate = GetBeforeUpdateMethod();
+            beforeUpdate(null);
+            beforeUpdate(new Type[0]);
+            beforeUpdate(new Type[] { typeof(ReflectionCacheTests) });
+            beforeUpdate(new Type[] { typeof(string), typeof(int) });
+        }
+
+        [ActiveIssue("https://github.com/dotnet/runtime/issues/50978", TestRuntimes.Mono)]
+        [Theory]
+        [InlineData(false)]
+        [InlineData(true)]
+        public void GetMethod_MultipleCalls_ClearCache_DifferentObjects(bool justSpecificType)
+        {
+            Action<Type[]> beforeUpdate = GetBeforeUpdateMethod();
 
             MethodInfo mi1 = typeof(ReflectionCacheTests).GetMethod(nameof(GetMethod_MultipleCalls_ClearCache_DifferentObjects));
             Assert.NotNull(mi1);
             Assert.Equal(nameof(GetMethod_MultipleCalls_ClearCache_DifferentObjects), mi1.Name);
 
-            beforeUpdate.Invoke(null, new object[] { typeof(ReflectionCacheTests) });
+            beforeUpdate(justSpecificType ? new[] { typeof(ReflectionCacheTests) } : null);
 
             MethodInfo mi2 = typeof(ReflectionCacheTests).GetMethod(nameof(GetMethod_MultipleCalls_ClearCache_DifferentObjects));
             Assert.NotNull(mi2);
@@ -39,5 +52,13 @@ public void GetMethod_MultipleCalls_ClearCache_DifferentObjects()
 
             Assert.NotSame(mi1, mi2);
         }
+
+        private static Action<Type[]> GetBeforeUpdateMethod()
+        {
+            Type updateHandler = typeof(Type).Assembly.GetType("System.Reflection.Metadata.RuntimeTypeMetadataUpdateHandler", throwOnError: true, ignoreCase: false);
+            MethodInfo beforeUpdate = updateHandler.GetMethod("BeforeUpdate", BindingFlags.Public | BindingFlags.NonPublic | BindingFlags.Static, new[] { typeof(Type[]) });
+            Assert.NotNull(beforeUpdate);
+            return beforeUpdate.CreateDelegate<Action<Type[]>>();
+        }
     }
 }