Jeff Bezos, Others Lose Over $78bn on Thursday

• Jeff Bezos, Others Lose Over $78bn on Thursday

Fear of fast-spreading coronavirus erased over $78 billion from the total net worth of the world’s 20 richest people on Thursday as Dow Jones and other markets across the world suffered their worse decline in years.

The total net worth of the world’s richest man, Jeff Bezos, declined by $8.14 billion on Thursday to $105 billion, according to Bloomberg Billionaires Index.

Bill Gates’s total net worth saw a decline of $6.98 billion on Thursday to $98 billion, bringing his total loss this year to $15.1 billion.

While Mark Zuckerberg, the Chief Executive Officer and Co-founder of Facebook Inc, experienced a $5.89 billion decline to $59.5 billion. His year-to-date loss increased to $18.9 billion.

The total net worth of Larry Page, Google Inc co-founder, plunged by $4.34 billion on Thursday to $54.6 billion. Warren Buffet’s total net worth also took a hit to $70.2 billion, down by $6.77 billion.

Jack Ma, China’s richest man and the founder of Alibaba, was not excluded as his total net worth suffered a $1.94 billion decline to $42.7 billion.

The losses were after president Trump heightened global risk on Wednesday by announcing a ban on flights from European nations, excluding the United Kingdom and Ireland. The decision to restrict business people from the world’s largest economy coupled with zero movements to and from the outbreak nation, China, the world’s second-largest economy, increased global risk on Thursday and forced global investors to exit the positions.

Financial markets from Europe to Asia, America, Africa, South America, and Oceania experienced their worse decline in years on Thursday.