The World’s 10 Richest Billionaires Lose $38 Billion On Coronavirus-Spurred ‘Black Monday’

Forbes

Following a week of steep market losses amid mounting coronavirus fears, the world’s 10 richest people lost a combined $37.7 billion on Monday, as the S&P 500 and Dow Jones each sunk nearly 8%. Nine of the 10 billionaires took a multi-billion dollar hit on a day market pundits and social media users quickly dubbed “Black Monday,” in reference to the infamous stock market crash of October 1987. 

The day’s biggest loser in both dollar and percentage terms was luxury goods kingpin Bernard Arnault, whose fortune plunged $6 billion, or 6%. The CEO of Paris-listed LVMH and the world’s third-wealthiest person, Arnault closed the day with a net worth of $92.6 billion compared to $98.6 billion on Friday.

The richest person on the planet, Jeff Bezos, lost $5.6 billion by the day’s market close, piling on to his losses of $14.1 billion last week. Amazon stock fell more than 5% on Monday, closing at a two-month low. Meanwhile, legendary investor Warren Buffett’s fortune fell $5.4 billion. Buffett called the coronavirus “scary stuff” in a CNBC interview two weeks ago, adding that the outbreak was “front and center” the main threat to U.S. companies and the economy. Shares of his storied conglomerate Berkshire Hathaway have since fallen to their lowest point in a year, making him the day’s third-biggest loser.

Read the rest here: https://www.forbes.com/sites/jonathanponciano/2020/03/09/the-worlds-10-richest-people-lose-38-billion-on-coronavirus-spurred-black-monday/#596850d346ed

4 thoughts on “The World’s 10 Richest Billionaires Lose $38 Billion On Coronavirus-Spurred ‘Black Monday’

  1. Once again, they still think we believe that the richest people are only billionaires and that there are no trillionaires. Bullshit!

    How much did the Rothschild and Rockefellers lose? Probably nothing.

    Funny how they never mention their fortunes, especially when they are the REAL richest persons in the world.

    1. BINGO! And I’m tired of the BS about Jeff Bezos being “the world’s richest man” when clearly the head of the Rothschild dynasty, clearly at least a trillionaire, is a helluva lot richer than Bezos could ever hope to be. But they won’t ever mention those fortunes because that would finally clue the clueless in as to the deception of fiat currency and the “out of thin air” banking systems.

  2. Oh boo f***ing hoo! Is there a GoFundMe? We have to help them get their account balance back up! Oh, that’s right, I’m flat broke and in debt because they stole everything!

  3. That’s okay…they’ll make it all back and more when those crapola pandemic bonds “mature” June (or July) 15, and then WHO declares it a pandemic after these money whores make their money back….

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