As the Dow Jones suffered its worst decline since 1987 and coronavirus fears caused markets to slide around the globe, the world’s twenty richest people lost just over $78 billion combined in a single day.
Huge panic in the largest world markets keeps on growing. Stocks, indices, cryptocurrencies are going down. I decided to count a few figures. See how asset values have changed over the past month:
ZOOM +40%! (110% for 3 months, video conferencing service).
Royal Caribbean -77%;
Norwegian Cruise -79%;
American Airlines -55%;
Delta Air Lines -45%;
United Airlines -58.
Exxon Mobil -42%;
Royal Dutch Shell -49%;
Dow Jones -31%.
How much the richest people in the world lost in dollars per day:
Jeff Bezos -8 billion, Amazon;
Bernard Arnault -$7,7 billion, Louis Vuitton;
Mark Zuckerberg -$5,7 billion, Facebook;
Warren Buffett -$5,2 billion, private investor;
Amancio Ortega -$5,2 billion, Zara/Massimo;
Steve Ballmer -$4,3 billion, Microsoft;
Larry Page: -$4 billion, Google;
Sergey Brin: -$3,8 billion, Google.
Since the market selloff began on Monday, Jeff Bezos has seen his net worth shrink by more than $9 billion to $104.4 billion at Thursday’s market close. That’s on top of his $14.1 billion loss last week. While LVMH’s Arnault suffered fewer losses last week — he was down $7.4 billion — his fortune has taken a $10.1 billion hit since Monday, with LVMH shares in freefall. Needless to say, buying luxury goods is not at the top of many people’s lists this week.
For more details on the plunging net worths of the world’s richest, see Forbes’ Real Time Billionaires page, which tracks the changes in fortunes throughout the day when stock markets are open around the world.