2018's been expensive for world's richest so far

Business

24 Mar 2018

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.

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

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%.

Love Business news?

Stay updated with the latest happenings.

Yes, notify me

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

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

Billionaire

Stock Market

World's Richest Peoples

Alphabet Inc

Alphabet Inc.

Amancio Ortega

Azim Premji

Berkshire Hathaway

Bernard Arnault

Bill Gates

Bloomberg Billionaires Index

Cambridge Analytica

Carlos Slim

CEO

Dow Jones Industrial Average

Earth

Facebook

Five Indians

Jeff Bezos

Lakshmi Mittal

Larry Ellison

Larry Page

Mark Zuckerberg

Mukesh Ambani

P 500 Index

Pallonji Mistry

Sergey Brin

Shiv Nadar

US

Warren Buffet

Warren Buffett

Share this timeline

Ask NewsBytes
User Image

Next Timeline