With a pandemic currently making waves in the world’s economy, and with a recession on the horizon, it is evident that no one is immune to the effects of the recent health outbreak, not even the world’s wealthiest people. These billionaires often look for third world countries and establish themselves in said countries to capture new and developing markets.
With these facts in mind and the effect of this pandemic, some billionaires lost ludicrous amounts of money. For most of these people, this was still just a small dent in their total accumulated assets. But for everyone else looking in, this is some serious money lost!
So who lost their money and what was the damage? Let’s jump in and see how much these people were affected. Continue reading to discover 10 of the world’s richest people who lost a combined sum of 81.1 billion USD this year.
Sergey Brin – 6.2 billion USD
Sergey Brin is the co-founder of Google, along with Larry Page, and ex-president of Google’s parent company, Alphabet Inc. His estimated net worth is 49.7 billion USD, and most of his wealth was generated by Alphabet Inc.
Thanks to the recent outbreak of the virus, the stock market had a profound effect on every industry, including the technology industry. This resulted in Sergey Brin losing an estimated 6.2 billion USD.
Carlos Slim – 6.3 billion USD
Carlos Slim, currently having a net worth of 50.1 billion USD, between 2010 and 2013, was deemed by Forbes, the richest man in the world. This Mexican businessman accumulated a fortune thanks to a wide array of investments, as well as being the CEO of Telmex, America Movil and Grupo Carso, most of his fortune generated by America Movil.
Due to recent events, he experienced a net loss of 6.3 billion USD.
Larry Page – 6.4 billion USD
Along with Sergey Brin, Larry Page was also co-founder of Google, being a computer scientist and an internet entrepreneur, and ex-CEO of Alphabet Inc. The loss he experienced surely put a dent in his net worth of 51.6 billion dollars. The net loss is estimated at 6.4 billion USD.
Mark Zuckerberg – 6.6 billion USD
This famous internet entrepreneur is best known for co-founding Facebook, being his most significant source of wealth, and also being the co-founder of Breakthrough Starshot, a spacecraft development project. The astronomical success of Facebook propelled him through the ranks, ending up as one of the richest men on earth with an estimated net worth of 55.1 billion dollars.
However, the recent outbreak also affected his wealth and resulted in a net loss of 6.6 billion USD.
Amancio Ortega – 6.8 billion USD
Amancio Ortega is a wealthy Spanish businessman with an estimated net worth of 56.1 billion dollars. He is most well-known for founding the Inditex fashion group and being its chairman. Inditex is also the source of the well-known clothing chain Zara.
The outbreak cause Amancio Ortega a net loss of 6.8 billion USD.
Warren Buffett – 8.8 billion USD
Warren Buffett, aged 89, is one of the most proficient investors of our time. He is a successful investor and a philanthropist, as well as being the CEO and chairman of Berkshire Hathaway, which is his biggest source of wealth. As of December 2019, he is considered to be the fourth wealthiest man alive, with an estimated net worth of 88.9 billion USD.
In light of recent events, he also suffered a substantial net loss of 8.8 billion USD.
Elon Musk – 9 billion USD
Elon Musk, age 48, rose to fame and fortune throughout the 2000s and 2010’s thanks to his proficiency in business. He is most well-known for co-founding PayPal, Tesla, and SpaceX. Tesla is one of the most valuable car companies in the US, manufacturing electric cars, and SpaceX is a space exploration company that rivals the likes of NASA.
This proficiency and work ethic provided him with a net worth of 29.6 billion dollars, but his loss, in contrast, was quite significant, measuring at a net loss of 9 billion USD.
Bernard Arnault – 9.1 billion USD
Bernard Arnault is a French billionaire best known for his CEO role in the world’s largest luxury-goods company, Louis Vuitton. His estimated net worth reaches 91.6 billion dollars, surpassing Amancio Ortega.
His net loss, due to the recent outbreak, is an estimated 9.1 billion USD.
Bill Gates – 10 billion USD
Bill Gates is well known in the technology industry for being the co-founder of the company, Microsoft. He is 64 years old, and thanks to his investments and business proficiency, he amassed a net worth of 98.9 billion dollars. But thanks to the recent outbreak, he experienced a net loss of a whopping 10 billion USD.
Jeff Bezos – 11.9 billion USD
Jeff Bezos, aged 56, is the CEO and president of Amazon, the largest retail company in the world.
His position generated him a net worth of 119.9 billion dollars, making him the richest man in the world. However, not even Jeff Bezos was shielded by the effects of recent events, which was evident in his recent loss of 11.9 billion USD.