WORLD'S RICHEST LOSE US $ 444 BILLION IN NET WORTH AS CORONAVIRUS IMPACT GLOBAL MARKETS

Monday, 02 March 2020 - 15:59

WORLD%27S+RICHEST+LOSE+US+%24+444+BILLION+IN+NET+WORTH+AS+CORONAVIRUS+IMPACT+GLOBAL+MARKETS
Global stock markets have responded negatively to the fears around coronavirus in recent days and this has also eaten into the fortunes of the world’s wealthiest people.

The combined wealth of the world's 500 richest people fell by $444 billion as the coronavirus continued to spread shaking equity markets worldwide according to the Bloomberg Billionaires Index.

According to the index, the world's three richest people, Jeff Bezos of Amazon.com, Bill Gates co-founder of Microsoft Corp and LVMH Chairman Bernard Arnault incurred the biggest losses, with their combined wealth dropping about $30 billion.

Foreign investment in SL bonds also fell below 100 billion with the total of Treasury bills and Treasury bonds held by foreigners hovering around the 90 billion mark last week.