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Tags: market | tumble | world | richest

Market Tumble Wipes Out Almost $100 Billion From World's Richest

Market Tumble Wipes Out Almost $100 Billion From World's Richest
(Aleksandr Frolov/Dreamstime)

Friday, 09 February 2018 06:58 AM EST

Swooning markets Thursday cost the world’s 500 richest people $93 billion in net worth, and 20 of them lost at least $1 billion each.

Jeff Bezos, the world’s richest person, saw his fortune drop by $5.3 billion to $113.2 billion, according to the Bloomberg Billionaires Index, as his Amazon.com Inc. tumbled 4.7 percent on the day.

Berkshire Hathaway Inc. Chairman Warren Buffett ’s wealth dropped $3.5 billion and Facebook Inc.’s Mark Zuckerberg lost $3.4 billion.

Elon Musk came back to Earth, dropping $1.1 billion in net worth after his Space Exploration Technologies Corp. successfully launched a Tesla Inc. sports car on a journey around the sun. Shares of Tesla, which he also leads, plunged 8.6 percent.

The Dow Jones Industrial Average and S&P 500 Index both tumbled to their lowest levels since November as fears of rising interest rates and inflation intensified.

© Copyright 2024 Bloomberg News. All rights reserved.


Economy
Swooning markets Thursday cost the world’s 500 richest people $93 billion in net worth, and 20 of them lost at least $1 billion each.
market, tumble, world, richest
142
2018-58-09
Friday, 09 February 2018 06:58 AM
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