Mark Zuckerberg, Bill Gates, Jeff Bezos, Jack Ma – how much money did the world’s richest lose when coronavirus struck the world markets last week?

Mar 17 , 2020

The world’s richest have taken a hit over the past week with the fallout from the coronavirus impact on markets. Photo collage by SCMP

World’s 500 richest people lost a combined US$238.5 billion last week in the Black Thursday crash triggered by the Covid-19 pandemic, according to Bloomberg Billionaires Index. So who lost the most?

Following a global stock market crash on March 12, now known as Black Thursday – the greatest single-day fall since the 1987 stock market crash – Mukesh Ambani has lost his place as Asia’s wealthiest man, according to the Bloomberg Billionaires Index. Bloomberg also reported that the world's 500 richest people lost a combined US$238.5 billion last week.

Now, let’s take a closer look at the Forbes Billionaires numbers to see what it means for some of the world’s best known billionaires.

Jeff Bezos (USA)

Jeff Bezos, the world’s richest man, took an US$8 billion hit. Photo: AP

The world’s richest man and Amazon founder and CEO, Jeff Bezos, has seen a loss of 7.13 per cent (US$8 billion) from his wealth, down to a mere US$104.4 billion. His divorce with wife MacKenzie Bezos in July 2019 resulted in transferring a quarter of his Amazon stake to her – making her one of the richest women in the world. He currently owns nearly a 12 per cent stake in the company.

Bill Gates (USA)

A generous giver, Bill Gates still has deep pockets as the second richest man in America. Photo: Reuters

Microsoft boss Bill Gates has seen a loss of 5.09 per cent - about US$5.3 billion - which has caused his net worth to dip just below the US$100 billion dollar mark to US$99.2 billion. Gates and his wife Melinda chair the world’s largest private charity organisation, the Bill & Melinda Gates Foundation. The Microsoft founder has so far donated US$35.8 billion worth of the company’s stock to the foundation. He owns about 1 per cent of shares in the company and has invested in different stocks and assets, making him the second wealthiest man in America.

Bernard Arnault and family (France)

The times don’t suit the luxury market for Bernard Arnault. Photo: Reuters

French billionaire Bernard Jean Étienne Arnault is chairman and chief executive of LVMH Moët Hennessy – an empire comprising 70 brands including Louis Vuitton and Sephora. His fortune sits at US$82.5 billion after falling 8.57 per cent (US$7.7 billion). The luxury market has seen a big blow to its sales due to the Covid-19 pandemic, as a lot of the profits of LVMH rely on Chinese customers.