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Mark Zuckerberg Has Lost $3 Billion This Week

Mark Zuckerberg Has Lost Billion This Week

It’s been an expensive week for the world’s richest people.

Mark Zuckerberg is nursing the biggest fall after losing $ 3.2 billion as large cap stocks disappointed for a fourth straight day.

Losses for the Facebook Inc. chief executive officer topped those of Spain’s Amancio Ortega and Mexico’s Carlos Slim, who were both down $ 2.4 billion as of 1 p.m. in New York. The fortunes of Alphabet Inc.’s Larry Page and Sergey Brin each dwindled more than $ 2 billion on the Bloomberg Billionaires Index since markets opened on Monday.

The world’s 500 richest people have lost a combined $ 107 billion this week, more than the entire market capitalization of Goldman Sachs Group Inc. or Lockheed Martin Corp. The wealth of U.S. billionaires fell the most, declining a combined $ 34 billion. Chinese tycoons saw $ 16 billion erased.

The Dow Jones Industrial Average has slid about 3.5% this week as President Donald Trump invited a trade war and Federal Reserve Chairman Jerome Powell fueled speculation the central bank plans to quicken the pace of monetary tightening.

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Fonte/Source: Business – TIME

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