The world’s richest people are US$124 billion poorer thanks to a global rout that pushed the Standard & Poor’s 500 Index into its first correction in nearly four years.
Still, their combined fortunes are a pretty US$3.86 trillion.
Two of the biggest losers were Bill Gates and Jeff Bezos who blew US$3.2 billion and US$2.6 billion, respectively.
Twenty-two other billionaires saw their wealth fall by more than 10 figures on Monday, Bloomberg reports, citing its Billionaires Index.
Mexico’s Carlos Slim lost US$1.6 billion, his fortune slipping to its lowest since the index began in 2012.
Tumbling markets worldwide have resulted in Chinese shares sinking the most since 2007, Germany’s DAX falling into a bear market, and commodities reaching a 16-year low, as Brent crude plunged below US$45 a barrel.
Last week’s declines had already seen the world’s 400 richest people lose $182 billion. A decline of US$76 billion on Friday had put their fortunes into the red for the year-to-date.
– Contact us at [email protected]