Jeff Bezos loses $5.3 billion, Warren Buffett $3.5 billion after markets rout
Swooning markets on Thursday cost the world’s 500 richest people $93 billion in net worth, and 20 of them lost at least $1 billion each
New York: 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% 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%.
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. Bloomberg
Editor's Picks »
- Motherson Sumi continues to face margin pressure in foreign markets
- What the Warren Buffett indicator tells us about market valuations today
- Jet Airways lands with a thud in Q4 as fuel costs increase
- IBC amendments: Some dilutions, and a lot more speed
- Patanjali’s gambit is paying off in toothpaste wars