10 Wealthiest US Billionaires Just Lost $14 Billion In A Single Day
America’s top 10 richest people lost a combined total of $14 billion on Monday, after the stock market suffered its worst day in two months.
Billionaires including Bill Gates, Mark Zuckerberg and Elon Musk all lost money as a rise in coronavirus cases and stalled negotiations about another fiscal stimulus bill caused market uncertainty.
Facebook CEO Zuckerberg was the worst hit as the social media company’s stock was down 2.7% on Monday. Zuckerberg owns 15% of the company, and the drop caused him to lose $2.8 billion.
There’s no need to worry though; with a net worth of $101.8 billion left, I think he’ll pull through.
Bill Gates, Microsoft co-founder and the world’s third-richest person, lost $1.7 billion through various investments, including his 1% ownership of Microsoft, which fell 2.8% on Monday. Gates also owns shares in Canadian National Railway, John Deere and Republic Services, all of which fell by over 2%, Forbes reports.
Tesla and SpaceX’s Elon Musk lost $66 million as Tesla stocks fells 2.5%, though they recovered later in the day. As a result, his net worth fell to $93 billion.
Elsewhere, former Microsoft executive Steve Ballmer lost $1.7 billion, renowned investor Warren Buffett lost $1.5 billion, and Oracle co-founder Larry Ellison dropped $2.6 billion.
Google co-founders Larry Page and Sergey Brin dropped $2 billion and $1.9 billion respectively, while Walmart heiress Alice Walton lost $635 million.
In spite of the wider market sell-off, there was one man who managed to increase his wealth on Monday – Amazon founder Jeff Bezos. The CEO owns more than 11% of Amazon, and when shares finished the day slightly higher he gained $159 million, raising his net worth to a total of $188.8 billion.
While the prospect of losing millions, or even billions, of dollars is probably devastating for anyone, I imagine it’s much less devastating when you have millions more to fall back on.
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