Dubai – Masaader News
The world’s 500 richest people lost a combined $139 billion as markets because of the fears of coronavirus and its effects on the global economy, according to Bloomberg.
It’s the biggest wealth drop for the group since the Bloomberg Billionaires Index began tracking that figure in October 2016. The S&P 500 and Dow Jones Industrial Average each dropped more than 3% on the day, the most in more than two years, as authorities struggled to contain the virus.
Bernard Arnault, chairman of luxury-goods maker LVMH, and Amazon.com Inc. founder Jeff Bezos led the declines, with each losing more than $4.8 billion. Amancio Ortega, chief executive officer of Zara parent Inditex SA, tumbled $4 billion, and the fortunes of everyone else in the top 10 slid by at least $2.3 billion.
Carnival Chairman Micky Arison’s net worth fell $406 million to $10.6 billion. Hundreds of people who were aboard Carnival’s Diamond Princess in Japan tested positive for the virus.