The world’s 500 richest people lost a record $1.4 trillion in half a year – Bloomberg

Bloomberg writes about it.

Thus, the inventor Elon Musk remains in the first place in the ranking of the rich: his fortune has decreased by about 62 billion dollars and now reaches 208.5 billion dollars. In second place was Amazon founder Jeff Bezos with $129.6 billion (- $63 billion).

Owner Bernard Arnault now owns $128.7 billion, which is $49 billion less than it was six months ago. Fourth Microsoft founder Bill Gates. He now owns an estimated fortune of $114.8 billion, and has also gotten poorer by more than $20 billion. Currently, only four people are worth more than $100 billion, up from 10 at the beginning of the year.

Why did this happen?

Bloomberg notes that the impoverishment of the wealthy differs from the trend in recent years, when their wealth grew amid unprecedented stimulus measures from governments due to the pandemic.

These incentives have increased the value of most commodities, including technology companies and cryptocurrencies. And now, due to the increase in interest rates, with which countries are fighting inflation, the shares of a number of the most expensive companies are falling in value – and for this reason, billionaires are poor.

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