It was a sad week for the world’s richest people.

One of the people for who this has been a devastating week was the richest person in the world, Jeff Bezos. The mega-billionaire lost $8 billion from his personal fortune this week.

The reason for this dramatic loss is simple – the stock market crashed after Saudi Arabia cut oil prices and the continued fear around the coronavirus has profoundly affected the global economy.

According to Forbes, the Dow Jones suffered its worst decline since 1987 and this caused Bezos to lose more than 7% of his net worth as Amazon shares fell by nearly 8%.

Mark Zuckerberg, the CEO of Facebook lost 9% of his net worth, this translates to $5.7 billion dollars.

 

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Moët Hennessy – Louis Vuitton SE (LVMH) chairman and CEO, Bernard Arnault lost $7.7 billion this week.

 

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