Business Maverick: Richest Billionaires Lose $1.4 Trillion in Worst Half Ever

All told, the world’s 500 richest people lost $1.4 trillion in the first half of 2022, a dizzying decline that marks the steepest six-month drop ever for the global billionaire class.

With policy makers now raising interest rates to combat elevated inflation, some of the highest-flying shares — and the billionaires who own them — are losing altitude fast. Tesla Inc. had its worst quarter ever in the three months through June, while Amazon.com Inc. plummeted by the most since the dot-com bubble burst.

Bernard Arnault, France’s richest person, ranks third with a $128.7 billion fortune, followed by Bill Gates with $114.8 billion, according to the Bloomberg index. They’re the only four that are worth more than $100 billion — at the start of the year, 10 people worldwide exceeded that amount, including Zuckerberg, who is now 17th on the wealth list with $60 billion.

ɪ'ᴍ ɴᴏ ᴇxᴘᴇʀᴛ ɪɴ ᴛʀᴀᴅɪɴɢ ʙᴜᴛ ɪ ʜᴀᴅ ɢᴏᴏᴅ ɢᴜɪᴅᴀɴᴄᴇ ᴡɪᴛʜ mamats38 ᴀɴᴅ ʜer ᴛᴇᴀᴍ, ɪᴛ'ꜱ ʙᴇʏᴏɴᴅ ᴇʏᴇ ᴏᴘᴇɴɪɴɢ, ᴡɪᴛʜ ᴛʜᴇꜱᴇ ᴛᴇᴀᴄʜɪɴɢꜱ ᴀɴᴅ ᴛʀᴀᴅɪɴɢ ꜱᴋɪʟʟ, I'ᴠᴇ ʜᴀᴅ ɴᴏᴛʜɪɴɢ ʙᴜᴛ ᴄᴏɴᴛɪɴᴜᴇᴅ ꜱᴜᴄᴄᴇꜱꜱ.

Really who cares how much moneh they have!!!!!

Musk is not the co-founder of Tesla. Please fix. He came in as an investor a whole year after Tesla was founded.

Well that's sad.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Oil heads for worst run of losses this year on recession concernWest Texas Intermediate traded below $106 a barrel after tumbling on Thursday as commodities were pummelled. The US benchmark has shed more than 1% this week despite signs that the physical crude market remains tight.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Sanctions-ravaged Russia offers opportunities for Indian firmsFrom pharmaceutical to consumer goods firms, Indian companies are either bagging new projects or are gearing up to pitch for more contracts as Moscow seeks fresh partners and vendors to fill the void. Indian companies are looking to bolster their operations in Russia, eyeing the opening left by the exodus of European, American and Japanese companies after the country’s invasion of Ukraine.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Beer made from recycled toilet water wins admirers in SingaporeNEWBrew uses NEWater, Singapore’s brand of drinking water recycled from sewage, which first flowed from treatment plants in 2003 to improve the island’s water security. PUB says the new beer is part of an effort to educate Singaporeans on the importance of sustainable water use and recycling.
Source: dailymaverick - 🏆 3. / 84 Read more »