According to Bloomberg Billionaires Index, today's Amazon stock fell 6.15%, the strongest in more than 2 years. This has reduced the assets of the owner of this company - Jeff Bezos to 145.2 billion USD.
US stocks yesterday had the strongest sell-off session in 8 months. Rising US government bond yields and concerns about trade tensions with China have caused the S&P 500 to lose up to 3.29% of its closing session. Nasdaq's decline was 4% and Dow Jones's was 3.15%.
Global stocks plummeted in the trading session on October 10, causing the assets of the 500 richest people in the world to decrease by 99 billion USD. This is the second sharp asset decline since the beginning of the year for the Bloomberg Billionaires Index, the 500 richest billionaires in the world.
Meanwhile, the net assets of Europe's richest billionaire Bernard Arnault fell 4.5%, to 66.9 billion USD. Arnault's LVMH branded goods prices plummeted after the company confirmed that China is tightening control of goods at the border.
Investor Warren Buffett is one of the ones who has lost the most on a percentage. His net assets fell $4.5 billion, or 4.9% lower.
67 richest billionaires in the world, including Microsoft's Bill Gates and Facebook's Mark Zuckerberg, have lost a total of $22.1 billion in assets.
Of the 500 billionaires ranked by Bloomberg, 17 have lost over $1 billion in the session.
