Coronavirus: World's richest man Jeff Bezos loses R129 billion

Coronavirus: World's richest man Jeff Bezos loses R129 billion

- With stock markets plunging as a result of the coronavirus, the world's richest people are getting hit hard by the loses

- Jeff Bezos lost a whopping $8 billion, which is about R129 billion, this week

- The billionaire lost 7% of his nett worth as Amazon shares fell by nearly 8%

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The coronavirus is not just affecting the health of people across the world, it has had a massive impact on economies and the global stock exchange markets.

The world's richest man, Jeff Bezos, suffered a 7% loss of his nett worth as a result of the aftermath of the coronavirus.

Amazon shared fell 8%, costing Bezos a whopping $8 billion - which is an estimated R129 billion - of his personal fortune, IOL reported.

This is due to stock markets crashing after Saudi Arabia cut oil prices, as well as the continued fear around the coronavirus.

READ ALSO: Coronavirus: Confirmed cases jump to 24, more expected says minister

Bezos is not the only one who suffered loses. According to Forbes, Bernard Arnault the chairman and CEO of Louis Vuitton SE (LVMH), lost $7.7 billion (R124 billion) this week.

Louis Vuitton's shared suffered a 9% loss this week as a decline sales of luxury goods had been noted as the coronavirus continues to spread.

Facebook's CEO Mark Zuckerberg lost 9% of his net worth, which is about $5.7 billion (R92 billion).

Mukesh Ambani joins the list of biggest losers this week. He lost R93 billion of his nett worth. The oil magnate's company, Ambani Reliance Industries, fell by 12% at the start of the week.

Briefly.co.za reported the slashing off oil prices led to stock markets to crash - which had severely affected Sasol.

Sasol plunged to about 50% of its value within a few hours on Monday. Fin24 reported that the share price dropped as low as R68 on Tuesday and the loss in value is estimated to be at a staggering R45 billion.

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Source: Briefly.co.za

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