Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Zomato
WhatsApp
SpiceJet
Reserve Bank Of India (RBI)
Bitcoin
Stock Market
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / World's wealthiest-500 have lost $436 billion so far in 2018
Business

World's wealthiest-500 have lost $436 billion so far in 2018

World's wealthiest-500 have lost $436 billion so far in 2018
Written by Shiladitya Ray
Mar 24, 2018, 07:45 pm 2 min read
World's wealthiest-500 have lost $436 billion so far in 2018

The first two months of 2018 have been rather expensive for the 500 wealthiest people on planet Earth. After US stock market indices registered their steepest weekly drop in two years, $181 billion was slashed off their combined fortune in one week itself. Since markets peaked on January 26, the combined net worth of the 500 richest has shrunk by $436 billion. Here's more.

Do you know?
Five Indians feature in world's wealthiest 100

The combined fortune of the 500 wealthiest now surpasses $5.2 trillion. Indians among the top 100, according to Bloomberg Billionaires Index, include 19th-placed Mukesh Ambani ($38.4bn), 53rd-placed Lakshmi Mittal ($18.3bn), 66th-placed Pallonji Mistry ($16.6bn), 69th-placed Azim Premji ($16.4bn), and 87th-placed Shiv Nadar ($14.4bn).

Stock markets
Stock markets continue sliding, amid fears of a trade war

The drop in the US stock market indices, namely the S&P 500 Index and the Dow Jones Industrial Average, comes on the back of heated rhetoric over tariffs, retaliation and fears of trade war between the US and other countries, India included. This week, the S&P 500 Index saw a six-week low fall of 2.5%, while Dow Jones Industrial Average fell by 3.5%.

Do you know?
The richest 10, according to Bloomberg Billionaires Index

At the time of writing, the 10 richest people, according to Bloomberg Billionaires Index, are Jeff Bezos ($125bn), Bill Gates ($89.1bn), Warren Buffett ($82.6bn), Amancio Ortega ($62.8bn), Bernard Arnault ($65.9bn), Carlos Slim ($65.4bn), Mark Zuckerberg ($65.1bn), Larry Page ($51.1bn), Larry Ellison ($50.8n), Sergey Brin ($49.8bn).

Mark Zuckerberg
Mark Zuckerberg bore the brunt with $10.3 billion wiped out

Notably, this week's damage to the world's richest hit Mark Zuckerberg the hardest, as the Facebook founder and CEO dropped three places to seventh on the Bloomberg Billionaires Index after $10.3 billion of his fortune was wiped out. Zuckerberg's misfortune comes on the back of reports that it let Cambridge Analytica amass data on 50 million users. Consequently, Facebook shares tumbled 14% this week.

Biggest losses
Carlos Slim, Larry Page, Sergey Brin among biggest losers

Losses for Zuckerberg were followed by losses for Spanish business tycoon Amancio Ortega, and Mexican business magnate Carlos Slim, who suffered losses of $2.4 billion each. Alphabet Inc.'s Larry Page and Sergey Brin saw losses of more than $2 billion each this week. In aggregated numbers, Oracle's Larry Ellison, Berkshire Hathaway's Warren Buffet, Amazon's Jeff Bezos, and Larry Page lost $17 billion this week.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
Shiladitya Ray
Shiladitya Ray
Mail
Budding social scientist with a keen interest in social studies of science and the sociology of knowledge. Cinephile. Liverpudlian. Metalhead.
Latest
Mukesh Ambani
Facebook
Larry Page
Mark Zuckerberg
Bill Gates
Latest
Happy birthday, Sunidhi Chauhan! Looking at her breakthrough songs
Happy birthday, Sunidhi Chauhan! Looking at her breakthrough songs Entertainment
Ace investor Rakesh Jhunjhunwala passes away at 62
Ace investor Rakesh Jhunjhunwala passes away at 62 Business
Salman Rushdie taken off ventilator, talking; accused pleads not guilty
Salman Rushdie taken off ventilator, talking; accused pleads not guilty World
#IndependenceDaySpecial: Noteworthy Indian film characters who found personal freedom
#IndependenceDaySpecial: Noteworthy Indian film characters who found personal freedom Entertainment
BLU Bold N2 launched with curved display, quad camera
BLU Bold N2 launched with curved display, quad camera Technology
Mukesh Ambani
Akash Ambani appointed as the new chairperson of Reliance Jio
Akash Ambani appointed as the new chairperson of Reliance Jio Business
Reliance, Swiggy, and PremjiInvest join bid to buy Metro India
Reliance, Swiggy, and PremjiInvest join bid to buy Metro India Business
Who is Radhika Merchant, Mukesh-Nita Ambani's future daughter-in-law?
Who is Radhika Merchant, Mukesh-Nita Ambani's future daughter-in-law? Entertainment
Gautam Adani joins $100 billion club, surpasses Mukesh Ambani
Gautam Adani joins $100 billion club, surpasses Mukesh Ambani Business
Why did Anil Ambani resign? What is his net worth?
Why did Anil Ambani resign? What is his net worth? Business
More News
Facebook
Free Fire MAX's August 13 codes: Here's how to redeem
Free Fire MAX's August 13 codes: Here's how to redeem Technology
Garena Free Fire MAX August 12 codes: How to redeem?
Garena Free Fire MAX August 12 codes: How to redeem? Technology
Here's how to redeem Free Fire MAX's August 11 codes
Here's how to redeem Free Fire MAX's August 11 codes Technology
Free Fire MAX: How to redeem the August 10 codes?
Free Fire MAX: How to redeem the August 10 codes? Technology
How to redeem Garena Free Fire MAX's August 9 codes?
How to redeem Garena Free Fire MAX's August 9 codes? Technology
More News
Larry Page
Japan's 'flying car' successfully completes first public flight
Japan's 'flying car' successfully completes first public flight Technology
How Silicon Valley's star engineer earned himself 18-months prison time?
How Silicon Valley's star engineer earned himself 18-months prison time? Business
Mukesh Ambani becomes 6th richest person in the world
Mukesh Ambani becomes 6th richest person in the world Business
Eric Schmidt, Google's former CEO, has reportedly resigned: Details here
Eric Schmidt, Google's former CEO, has reportedly resigned: Details here Business
Sundar Pichai is getting a huge pay raise in 2020
Sundar Pichai is getting a huge pay raise in 2020 Business
More News
Mark Zuckerberg
Facebook, WhatsApp's parent company reports revenue decline for first time
Facebook, WhatsApp's parent company reports revenue decline for first time Business
Instagram users can now pay for purchases directly in Chat
Instagram users can now pay for purchases directly in Chat Technology
Now, you can react to WhatsApp message with any emoji
Now, you can react to WhatsApp message with any emoji Technology
Meta's COO Sheryl Sandberg is stepping down after 14 years
Meta's COO Sheryl Sandberg is stepping down after 14 years Business
WhatsApp Communities and other updates coming this year
WhatsApp Communities and other updates coming this year Technology
More News
Bill Gates
Reading habits of 5 most successful people in the world
Reading habits of 5 most successful people in the world Lifestyle
Gautam Adani becomes world's 5th richest person, surpasses Warren Buffett
Gautam Adani becomes world's 5th richest person, surpasses Warren Buffett Business
Epstein among 'many things' why divorce happened: Melinda French Gates
Epstein among 'many things' why divorce happened: Melinda French Gates World
Bill Gates was advised against flirting with employee in 2008
Bill Gates was advised against flirting with employee in 2008 World
Know all about Bill and Melinda Gates's son-in-law Nayel Nassar
Know all about Bill and Melinda Gates's son-in-law Nayel Nassar World
More News
Next News Article
Next News Article

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022