Bezos adds R2.6bn to his wealth as Musk, Zuckerberg, others lose R240bn

Bezos adds R2.6bn to his wealth as Musk, Zuckerberg, others lose R240bn

- Just as Covid-19 made some of the the world's richest men wealthier, it has also succeeded in making some of the wealthiest men in the United States $14.7 billion (R240 billion) poorer

- The nett worths of Mark Zuckerberg, Elon Musk, Bill Gates and others dropped after the market took a hit

- Amazon CEO Jeff Bezos, however, became the only billionaire on the list who gained as he added $159 million (R2.6 billion) to his wealth

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The 10 wealthiest men in the United States have collectively lost $14.7 billion (R240 billion) in a single day after the market took a hit at the start of the week.

Forbes reports that the Dow Jones Industrial Average fell 650 points, the S&P 500 fell 1.9% and the Nasdaq Composite was down 1.6% on Monday, October 26.

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The market drop was occasioned by the spike in the country's coronavirus cases alongside a lack of a second stimulus plan ahead of upcoming earnings reports from tech companies.

Mark Zuckerberg of Facebook suffered the biggest loss as his nett worth stood at roughly $101.8 billion after market closed on Monday and he lost $2.8 billion. Bill Gates lost $1.7 billion while Alice Walton of Walmart lost $635 million.

War of the richest men: Celebration for Jeff Bezos as Elon Musk, Bill Gates, Mark Zuckerberg, others lose $14 billion

Bill Gates lost $1.7 billion as market took a hit. Photo credit: @thisisbillgates/Instagram
Source: Instagram

Others whose nett worths dropped included Elon Musk and Warren Buffett. While Musk lost $66 million, Buffet lost $1.5 billion.

Steve Ballmer of Microsoft lost $1.7 billion while Larry Ellison of Oracle lost $2.6 billion. Larry Page and Sergey Brin of Google lost $2 billion and $1.9 billion respectively.

However, chief executive officer of Amazon Jeff Bezos added to his fortune, becoming the only billionaire on the list whose fortune increased. He added $159 million (R2.6 billion) to his wealth.

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War of the richest men: Celebration for Jeff Bezos as Elon Musk, Bill Gates, Mark Zuckerberg, others lose $14 billion

Amazon CEO Jeff Bezos gained $159 million as nine other billionaires lost a combined $14.7 billion. Photo credit: Forbes
Source: UGC

Briefly.co.za previously reported that the 10 richest technology moguls lost $44 billion from their collective wealth on Thursday, September 3 as the United States equities tumbled and investments suffered.

The wealthiest man in the world and co-founder of Amazon Inc, Jeff Bezos, lost the most as $9 billion was erased from his wealth on that disappointing occasion.

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Source: Briefly.co.za

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