World's Richest Lose $194 Billion In 1st Wk of 2016# Stock
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World's Richest Lose $194 Billion In First Trading Week of 2016
Brendan Coffey
bpcoffey
Jack Witzig
January 8, 2016 — 4:59 PM CST
Amazon's Jeff Bezos, last year's biggest winner, lost the most
Number of billionaires who shed more than $1 billion: 47
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The world’s 400 richest people lost almost $194 billion this week as world
stock markets began the year with a shudder on poor economic data in China
and falling oil prices.
Forty-seven billionaires lost $1 billion or more during the worst week for U
.S. stocks since 2011, according to the Bloomberg Billionaires Index. The
combined drop was almost seven times the $29 billion lost in the first five
trading days of 2015. The 400 people on the index had a combined $3.7
trillion at the end of the week, compared with more than $4 trillion a year
ago.
Amazon.com founder Jeff Bezos, the best-performing billionaire in 2015, lost
the most, his fortune dropping $5.9 billion this week as shares of the
world’s largest online retailer fell more than 10 percent. Bezos is the
world’s fourth-richest person with $53.7 billion and more than doubled his
net worth in 2015 as investors cheered profits at Amazon.
Jeff Bezos
Jeff Bezos Photographer: Jin Lee/Bloomberg
The world’s richest person, Bill Gates, fell $4.5 billion to $79.2 billion,
while Spain’s Amancio Ortega, the second-richest, dropped $3.4 billion to
$69.5 billion.
Billionaire YTD Drop Net Worth Percentage Change
Jeff Bezos -$5.9 billion $53.7 billion -9.9%
Carlos Slim -$5.7 billion $46.6 billion -10.8%
Bill Gates -$4.5 billion $79.2 billion -5.4%
Wang Jianlin -$4 billion $32.4 billion -11.1%
Amancio Ortega -$3.4 billion $69.5 billion -4.7%
The combined loss among the billionaires represents a 4.9 percent dip in
their total wealth, according to the index, a slightly better performance
than world equity markets so far this year. Global stocks tumbled 6.2
percent for the week, according to the MSCI ACWI Index.
There were 11 billionaires among the 400 whose fortunes rose this week,
including the five heirs to Wal-Mart Stores Inc. The five Waltons added a
combined $2.5 billion as Wal-Mart gained a little over $2 a share. Jim
Walton, son of company founder Sam Walton, had the biggest gain, a $759
million increase.
The combined net worth of the 400 people on the index is $3.7 trillion,
about equal to the gross domestic product of Germany.
Brendan Coffey
bpcoffey
Jack Witzig
January 8, 2016 — 4:59 PM CST
Amazon's Jeff Bezos, last year's biggest winner, lost the most
Number of billionaires who shed more than $1 billion: 47
Share on Facebook
Share on Twitter
The world’s 400 richest people lost almost $194 billion this week as world
stock markets began the year with a shudder on poor economic data in China
and falling oil prices.
Forty-seven billionaires lost $1 billion or more during the worst week for U
.S. stocks since 2011, according to the Bloomberg Billionaires Index. The
combined drop was almost seven times the $29 billion lost in the first five
trading days of 2015. The 400 people on the index had a combined $3.7
trillion at the end of the week, compared with more than $4 trillion a year
ago.
Amazon.com founder Jeff Bezos, the best-performing billionaire in 2015, lost
the most, his fortune dropping $5.9 billion this week as shares of the
world’s largest online retailer fell more than 10 percent. Bezos is the
world’s fourth-richest person with $53.7 billion and more than doubled his
net worth in 2015 as investors cheered profits at Amazon.
Jeff Bezos
Jeff Bezos Photographer: Jin Lee/Bloomberg
The world’s richest person, Bill Gates, fell $4.5 billion to $79.2 billion,
while Spain’s Amancio Ortega, the second-richest, dropped $3.4 billion to
$69.5 billion.
Billionaire YTD Drop Net Worth Percentage Change
Jeff Bezos -$5.9 billion $53.7 billion -9.9%
Carlos Slim -$5.7 billion $46.6 billion -10.8%
Bill Gates -$4.5 billion $79.2 billion -5.4%
Wang Jianlin -$4 billion $32.4 billion -11.1%
Amancio Ortega -$3.4 billion $69.5 billion -4.7%
The combined loss among the billionaires represents a 4.9 percent dip in
their total wealth, according to the index, a slightly better performance
than world equity markets so far this year. Global stocks tumbled 6.2
percent for the week, according to the MSCI ACWI Index.
There were 11 billionaires among the 400 whose fortunes rose this week,
including the five heirs to Wal-Mart Stores Inc. The five Waltons added a
combined $2.5 billion as Wal-Mart gained a little over $2 a share. Jim
Walton, son of company founder Sam Walton, had the biggest gain, a $759
million increase.
The combined net worth of the 400 people on the index is $3.7 trillion,
about equal to the gross domestic product of Germany.