World’s wealthiest people take hits amounting to billions amid stock market and cryptocurrency crash - The Independent Singapore News

Ironically, throughout the pandemic, corporations, and billionaires enjoyed record profits while millions became paupers overnight. In fact, a new billionaire was minted every 30 hours on average, but since the start of this year, statistics tell a different story.

Not far behind in losing a fortune is Amazon’s Jeff Bezos, who left the company last year. His net worth plummeted by $61.1 billion and his wealth is now at $131 billion. Zhao saw his net worth fall from nearly $95 billion in January to $14.9 billion on May 20 as the cryptocurrency market crashed. The shrinking of Li’s fortune came as a series of bad news engulfed Sea, which he founded in 2009, which sent its share prices tumbling more than 80% since its October peak.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

World’s wealthiest people take hits amounting to billions amid stock market and cryptocurrency crash - The Independent NewsThe stock market crash has not just affected the man on the street but also some of the world’s richest people. With losses running into billions, the pandemic had earlier allowed them to pocket big money but as stocks and crypocurrencies continue to tank, billionaires around the world have seen staggering losses. Ironically throughout the …
Source: IndependentSG - 🏆 9. / 63 Read more »