Bezos adds N60bn to his wealth as Musk, Zuckerberg, others lose N5.6trn

Bezos adds N60bn to his wealth as Musk, Zuckerberg, others lose N5.6trn

- Just as COVID-19 made the world's richest men wealthier, it has also succeeded in making the wealthiest men in the United States $14.7 billion (N5,614,224,000,000) poorer

- The net worth of Mark Zuckerberg, Elon Musk, Bill Gates and others dropped after the market took a hit

- Amazon CEO Jeff Bezos, however, gained as he added $159 million (N60,725,280,000) to his wealth

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The nine wealthiest men in the United States have collectively lost $14.7 billion (N5,614,224,000,000) in a single day after the market took a hit at the start of the week.

Forbes reports that the Dow Jones Industrial Average fell 650 points, the S&P 500 fell 1.9%, and the Nasdaq Composite was down 1.6% on Monday, October 26.

The market drop was occasioned by the spike in the country's coronavirus cases alongside a lack of a second stimulus plan ahead of upcoming earnings reports from tech companies.

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Mark Zuckerberg of Facebook suffered the biggest loss as his net worth stood at roughly $101.8 (N38,879,456,000,000) billion after market closed on Monday and he lost $2.8 billion (N1,069,376,000,000).

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Bill Gates lost $1.7 billion (649,264,000,000), while Alice Walton of Walmart lost $635 million.

War of the richest men: Celebration for Jeff Bezos as Elon Musk, Bill Gates, Mark Zuckerberg, others lose $14 billion
Bill Gates lost $1.7 billion as market took a hit. Photo credit: @thisisbillgates/Instagram
Source: Instagram

Others whose net worth dropped included Elon Musk and Warren Buffett. While Musk lost $66 million, Buffet lost $1.5 billion.

Steve Ballmer of Microsoft lost $1.7 billion, while Larry Ellison of Oracle lost $2.6 billion. Larry Page and Sergey Brin of Google lost $2 billion and $1.9 billion respectively.

However, chief executive officer of Amazon Jeff Bezos added to his fortune, becoming the only billionaire on the list whose fortune increased. He added $159 million (N60,725,280,000) to his wealth.

War of the richest men: Celebration for Jeff Bezos as Elon Musk, Bill Gates, Mark Zuckerberg, others lose $14 billion
Amazon CEO Jeff Bezos gained $159 million as nine other billionaires lost a combined $14.7 billion. Photo credit: Forbes
Source: UGC

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Legit.ng previously reported that the ten richest technology moguls lost $44 billion from their collective wealth on Thursday, September 3, as the United States equities tumbled.

The wealthiest man in the world and co-founder of Amazon Inc, Jeff Bezos, lost the most as $9 billion was erased from his wealth.

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Source: Legit.ng

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