World's 500 Richest People Lose $35 Billion From Trump Turmoil
Source: bloomberg.com
by Brendan Coffey and Jack Witzig
May 17, 2017, 4:16 PM CDT
Bezos falls to No. 3 position, $4.9 billion behind Gates
Facebooks Zuckerberg is hardest hit with $2 billion drop
Bill Gates Photographer: Chris Ratcliffe/Bloomberg
The worlds richest people lost $35 billion Wednesday when global equity markets were rocked by political turmoil in the U.S., according to the Bloomberg Billionaires Index.
Bill Gates, the worlds richest person with $86.8 billion, lost $1 billion as shares of Microsoft Corp., his largest holding, tumbled 2.8 percent, the most in almost a year. Amazon.com Inc. co-founder Jeff Bezos, who came within $4 billion of taking the top spot from Gates earlier this week, dropped to No. 3 after losing $1.7 billion as shares of the online retailer slid 2.2 percent. Spanish retailing tycoon Amancio Ortega lost $355 million to end the day in the second position with $83.2 billion...........................................
Read more: https://www.bloomberg.com/news/articles/2017-05-17/world-s-500-richest-people-lose-35-billion-from-trump-turmoil
50 Shades Of Blue
(9,975 posts)tavernier
(12,377 posts)DFW
(54,341 posts)Tanuki
(14,918 posts)Thekaspervote
(32,755 posts)And, the rethugs will listen and act
neeksgeek
(1,214 posts)Bernardo de La Paz
(48,988 posts)democratisphere
(17,235 posts)melm00se
(4,990 posts)and the reactions drives the attention away from the real question/implication:
How much have retirement accounts and pension funds been impacted? I willing to hazard a guess that it is a lot more (in raw dollars).
former9thward
(31,981 posts)When something goes down a for a day is that the only thing that counts? Nobody lost anything in the stock market. Not the 500 richest or pension and retirement accounts. Because none of them sold anything.
Achilleaze
(15,543 posts)republican Comrade Casino and his cabal of colluding cronies are to blame.
Demonaut
(8,914 posts)Nitram
(22,791 posts)certainot
(9,090 posts)FigTree
(347 posts)who got the 35 billions? Nobody actually lost anything. You don't lose on valuation. You lose when you sell at a loss.
knightmaar
(748 posts)You'd think they'd wait a day to make it look less obvious.
Coventina
(27,101 posts)Vinca
(50,261 posts)JCanete
(5,272 posts)MrScorpio
(73,630 posts)I knew that it was going to happen eventually. Looks like Cheetolini is exceeding all expectations.
Blue_Tires
(55,445 posts)When you start fucking with their cashflow, you might as well start digging your own grave....