Fears of the virus erased the US$78 billion in gains that the 500 wealthiest people had amassed since the start of the year. FMTNews
The world’s three richest people – Jeff Bezos, Microsoft Bill Gates and LVMH Bernard Arnault – incurred the biggest losses. The combined fortunes of the world’s 500 richest people fell by US$444 billion as the coronavirus continued to spread – and spread fear – rattling equity markets worldwide.
The drubbing more than erased the US$78 billion in gains that the 500 wealthiest people had amassed since the start of the year through last week, according to the Bloomberg Billionaires Index. Elon Musk, the world’s 25th-richest person, rang up the fourth-largest weekly loss – US$9 billion – as shares of his Tesla Inc slid after a steep climb to start the year. He’s still up US$8.8 billion in 2020 and has a net worth of US$36.3 billion.
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