Everybody get out your kleenex......

[marmar]

[font size="3"]World’s Richest People Lose $182 Billion in Market Rout[/font]




The world’s 400 richest people lost $182 billion this week from their collective fortunes as weak manufacturing data from China and a rout in commodities sent global markets plunging.

The weekly drop for the Bloomberg Billionaires Index, a group that includes Warren Buffett and Glencore Plc’s Ivan Glasenberg, was the biggest since tracking of the expanded list began in September 2014. The combined net worth of the index members fell by $76 billion on Friday alone, when the Standard & Poor’s 500 Index of U.S. stocks ended its worst week since 2011.

“For them that’s a fractional percentage, even though $182 billion is a big number,” said John Collins, director of investment advisory at Aspiriant, which oversees more than $8 billion for high net worth clients. “A week like this feels really bad, but when you take a step back, in a big picture view it’s not a disaster by any means.”

Friday’s losses put the world’s richest 400 into the red for the year to date. They’re now down $74 billion in 2015, with a collective net worth of $3.98 trillion.

The week’s largest setback in dollar terms was experienced by Buffett, who saw his fortune drop by $3.6 billion as Berkshire Hathaway Inc. slipped more than 5 percent. The investor is the world’s third-wealthiest person, with a fortune of $63.4 billion, according to data compiled by Bloomberg. ...................(more)

http://www.bloomberg.com/news/articles/2015-08-21/world-s-richest-people-lose-182-billion-as-market-rout-deepens

[Enrique]

1. is there a gofundme page?

i want to do my part.

[Fred Sanders]

2. Any money that flows out of the rigged for and by billionaires Stock Casinos of the world is money well lost.

Oil at new historical lows is good for common folks and the economy, any economy, not so much for the Investor Class, which is why we only hear the bad news about low oil prices....when did low oil prices suddenly become a bad thing?

Well, it never did- that is yet another Big Lie by Big Media on behalf of big ad spending Big Oil.

[yeoman6987]

3. I imagine I lost some this week. I haven't looked and won't

on the 1st when my automatic payment purchases stock perhaps I will get more shares for my grand I pay every month. Nobody lost money unless they stupidly sell lower then they bought.

[JustABozoOnThisBus]

4. I'm not one of the 400 richest ...

... so my losses were less. But there are still losses.

Most people trying to invest for eventual retirement are also seeing losses.

But, glad to see someone is enjoying all this.

[gwheezie]

5. The wealthy will survive

The rest of us slobs will take a hit on the meager investments we have which can make a difference. The poor will still suffer in their daily struggles.