$ 44 billion in losses in a single day for a handful of rich people

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Saudi News, Saudi News Today: 44 billion dollars in losses in one day incurred by a handful of the wealthy. Source of the news – Saudi-Arab news, with details of the news, 44 billion dollars in losses in one day incurred by a handful of rich people:

Saudi Arabia Today News – Latest Update: Friday 16 Muharram 1442 AH – September 04, 2020 KSA 12:41 – GMT 09:41
Publication date: Friday 16 Muharram 1442 AH – September 04, 2020 KSA 10:56 – GMT 07:56 Source: Dubai – Mr. Mohammed

A violent correction wave in the US stock markets caused, last Thursday’s session, the 10 richest people in the world to incur losses amounting to about 44 billion, amid a wave of selling on technology shares that led the decline in US indices.

And Bloomberg said in a report that the sharp losses suffered by these people came amid concerns among investors about a bubble in the stock market and exaggerated valuations that caused the record rise in stocks over the past months.

Jeff Bezos topped the list of the biggest losers, with his wealth falling by about $ 9 billion in a day, with Amazon shares falling at the worst daily decline since last June, while Elon Musk’s fortune fell by about $ 8.5 billion, with shares of Tesla Electric Cars declining for the third consecutive session after the reduction of an investor. Main company holds less than 5% stake in capital market adherence.

Since the beginning of this year, the fortunes of the rich have witnessed an astronomical rise, with investors pumping record liquidity into the shares of technology companies in what appeared to be a clear isolation from the nature of the economic conditions in the time of Corona with millions of people losing their jobs around the world.

Despite the losses incurred by the wealthy in yesterday’s session, their gains since the beginning of the year are still estimated at billions of dollars, as data for the Bloomberg Index of the 500 Richest People on Earth indicate that their wealth has increased by about $ 830 billion since the beginning of the year.

Jeff Bezos remains at the forefront of the world’s billionaires, with annual gains since the start of the year amounting to about $ 83 billion, followed by Elon Musk, founder of Tesla, whose gains since the beginning of the year amounted to about $ 69 billion with the record rise of shares of Tesla, which is experiencing a recent correction wave.

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