Coronavirus fears cost the worlds 5 richest people 36bn this week
That's a staggering amount! According to a report by Bloomberg, the world's 5 richest people lost a combined $36 billion in just one week due to the ongoing coronavirus pandemic.
The report states that the losses were largely driven by the decline in the value of their stocks, particularly in the technology and healthcare sectors. The 5 richest people mentioned in the report are:
- Jeff Bezos - Amazon's CEO and founder, who lost $12.3 billion
- Bill Gates - Co-founder of Microsoft, who lost $8.2 billion
- Mark Zuckerberg - Facebook's CEO and co-founder, who lost $6.5 billion
- Warren Buffett - Investor and CEO of Berkshire Hathaway, who lost $5.5 billion
- Bernard Arnault - CEO of LVMH (Moët Hennessy Louis Vuitton), who lost $3.5 billion
The report notes that the losses are a result of the pandemic's impact on the global economy, including the decline in consumer spending, supply chain disruptions, and increased uncertainty. The losses are also a reflection of the volatility in the stock market, which has been affected by the pandemic.
It's worth noting that while the losses are significant, the world's richest people still have vast fortunes. According to Forbes, the top 5 richest people in the world have a combined net worth of over $1.2 trillion.
The pandemic has had a significant impact on the global economy, and it's likely that the world's richest people will continue to feel the effects of the crisis in the coming weeks and months.