The world’s 500 richest people lost a total of $ 139 billion on February 24, while markets were sinking amid fears that the new coronavirus would hit the world economy, writes Bloomberg.
The S&P 500 and the Dow Jones industrial average each fell more than 3% in one day. This is the biggest drop in more than two years, caused by news about the spread of the new coronavirus, the agency says.
The leaders of the loss list are Bernard Arnault, president of the French company LVMH (Moet Hennessy – Louis Vuitton), and Jeff Bezos, founder of Amazon. Each lost more than 4.8 billion dollars. Amancio Ortega, general director of the parent company of Zara, Inditex SA, lost 4,000 million dollars.
The fortunes of the other people who occupied the top 10 positions were reduced by at least $ 2.3 billion, inform the middle.
China, where the new coronavirus virus originated, accounts for 40% of the global luxury goods market.