interestrateripoff Posted August 23, 2015 Share Posted August 23, 2015 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. Quote Link to comment Share on other sites More sharing options...
winkie Posted August 23, 2015 Share Posted August 23, 2015 (edited) Well they can just as easily make that sum in a day......nobody talks about that though....only moan and complain when there is a loss......maybe they have only lost what they never had? Edited August 23, 2015 by winkie Quote Link to comment Share on other sites More sharing options...
XswampyX Posted August 23, 2015 Share Posted August 23, 2015 Is that $182 billion loss, ultimately $182 billion we won't have to pay? If so. Good! Quote Link to comment Share on other sites More sharing options...
billybong Posted August 23, 2015 Share Posted August 23, 2015 (edited) They're so "embattled" they'll be wanting yet another bailout by taxpayers and savers. Edited August 23, 2015 by billybong Quote Link to comment Share on other sites More sharing options...
bobbo Posted August 23, 2015 Share Posted August 23, 2015 I remember hearing once that a stock market dip is the most effective way to close the wealth gap between rich and poor. Quote Link to comment Share on other sites More sharing options...
R K Posted August 24, 2015 Share Posted August 24, 2015 Mr Market's price is different to value as Warren Buffet would attest. Quote Link to comment Share on other sites More sharing options...
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