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World's Richest Billionaires Lose $182 Billion In One Week After Nyse Plunges 500 Points


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http://www.independent.co.uk/news/business/news/worlds-richest-billionaires-lose-182-billion-in-one-week-after-nyse-plunges-500-points-10467787.html?icn=puff-10

A flight of confidence in the markets saw a collective $182 billion vanish from the wealth of the world's billionaires.

Concerns about the Chinese economy contributed to the New York Stock Exchange seeing its biggest loss this year on Friday, with the Dow Industrial Average plunging more than 500 points.

Facebook founder Mark Zuckerberg suffered an estimated $1.9 billion loss to see his reported fortune plunge to $37.8 billion.

The largest loss in the week overall went to Warren Buffett, an investor and the world's third wealthiest person, with a $3.6 billion loss in fortune over seven days.

Other losers were Jeff Bezos, the embattled CEO of Amazon, Larry Page and Sergey Brin of Google, Mexican communications tycoon Carlos Slim and Bill Gates, Microsoft founder. They are ranked on the Bloomberg Billionaire's Index, which reported the drop as the biggest since tracking began in September 2014.

Easy come easy go. Got to love the idea of paper wealth based on QE and speculation.

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