Wednesday October 10th was a great shocker for the financial markets all across the globe. One of the investors that were hit the hardest was the founder of Amazon Jeff Bezos who suffered a huge loss.
Bezos alone took a toll of about 9.1 billion dollars loss on the financial markets whereas a collective sum of 99 billion dollars loss was suffered by top 500 richest people of the world. For the American billionaires the toll was immense as they alone suffered a loss of about 54.5 billion dollars.
Out f that selected American group Bezos was the only one who took the sizable fortune loss at the end of the day all because of the financial dip.
The second place for the loss was shockingly gone into the court of Warren Buffet who shares this spot with Europe’s richest person Bernard Arnault. They both lost about 4.5 billion dollars each. For Bernard this was about half of his financial gains of the year.
This plunge came at a time when Bernard already was reeling in from a loss of 3.9 billion dollars on Friday after the news on Bloomberg aired which states that “unauthorized imports of popular items from brands like Louis Vuitton and Berluti were under heavy border checks.” Both of these brands unfortunately for Bernard fall under his LVHM luxury brand umbrella.
In these last few weeks, Jeff Bezos’ net worth has dwindled from 170 billion dollars to 145 billion dollars.
The third place in this loss ranking is tied with Kering’s François-Henri Pinault and Facebook’s Mark Zuckerberg. They both lost about 2.5 billion dollars each from their personal fortunes. All the above stated billionaires are th part of those 17 individuals who took a hit of at least 1 billion dollars in only one day.