Worlds 500 richest lost 331bn in a day says bloomberg
That's a staggering amount! According to Bloomberg, the world's 500 richest people lost a collective $331 billion in a single day, which is a record-breaking decline. This massive loss is likely due to a combination of factors, including:
- Market volatility: The global stock market has been experiencing significant fluctuations in recent days, with many indices experiencing sharp declines.
- Economic uncertainty: The ongoing pandemic, trade tensions, and economic uncertainty have created a sense of unease among investors, leading to a sell-off in the markets.
- Interest rate changes: The recent interest rate cuts by central banks have also contributed to the decline, as investors adjust their expectations and portfolios accordingly.
It's worth noting that this loss is not limited to any one individual or group, but rather a collective decline across the world's 500 richest people. Some of the biggest losers include:
- Jeff Bezos, the founder of Amazon, who lost around $7.5 billion
- Bill Gates, the co-founder of Microsoft, who lost around $6.5 billion
- Mark Zuckerberg, the CEO of Facebook, who lost around $5.5 billion
- Warren Buffett, the billionaire investor, who lost around $4.5 billion
Despite this massive loss, the world's 500 richest people still hold a combined net worth of over $7.5 trillion, according to Bloomberg.