World's richest including Jeff Bezos and Bill Gates lose $444 billion in a week after global markets bleed

WION Web Team New Delhi, Delhi, India Feb 29, 2020, 11.09 PM(IST)

File photo. Photograph:( Reuters )

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Founder of SpaceX, Elon Musk, lost $9 billion as shares of his Tesla recorded a major dip.  

In the aftermath of the global stock markets bloodbath, world's 500 richest people lost $444 billion in total this week, Bloomberg Billionaires Index said on Saturday.

The US stock market suffered a historic pullback after the Dow Jones Industrial Average and S&P 500 each tumbled over 12 per cent and 11% this week over the coronavirus pandemic and wiped out more than $6 trillion from global stocks. It was the biggest five-day slide since the depths of the 2008 financial crisis.

Also read: Sensex, Nifty crash as global markets dive over spread of coronavirus

According to the report, the world’s three richest people, Amazon founder Jeff Bezos, Microsoft Corporation's Bill Gates and LVMH Chairman Bernard Arnault suffered the biggest losses, as their combined wealth dropped about $30 billion.

Founder of SpaceX and CEO of Tesla, Elon Musk, lost $9 billion as shares of Tesla recorded a major dip.  

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The virus which originated from Wuhan in Hubei province in China has already claimed 2,856 people and infected more than 83,000 worldwide and spread to at least 45 countries. 

However, Iran has emerged as a new hotspot for the virus, with at least 43 deaths and more than 245 infections so far.

Meanwhile, oil prices sank to a new low of $50.05 per barrel as the virus sparked panic over crude demand.

European stock markets bled with Frankfurt's DAX 30 index diving 5.2 per cent.