JEFF Bezos, Mark Zuckberg & Elon Musk lost a whopping $30BILLION in one week as coronavirus chaos hammers the US markets. The three billionaires were three of the biggest losers this week as the Dow Jones Industrial Average nosedived amid the global COVID-19 chaos. The Dow plummeted a whopping 3,500 points (12.4 percent) since last […]
JEFF Bezos, Mark Zuckberg & Elon Musk lost a whopping $30BILLION in one week as coronavirus chaos hammers the US markets.
The three billionaires were three of the biggest losers this week as the Dow Jones Industrial Average nosedived amid the global COVID-19 chaos.
The Dow plummeted a whopping 3,500 points (12.4 percent) since last Friday, resulting in huge loses for the three moguls and countless others, reports Forbes.
The COVID-19 crisis capped off the worst weekly declines the US stock market has experienced since the 2008 financial crisis as the spread of coronavirus threatens to derail the global economy.
Although he was named the richest man in the world, Bezos lost $14.1 billion this past week, with his net worth now standing at $113.6 billion, meaning he coughed up the most cash.
Berkshire Hathaway CEO Warren Buffet lost $9.8 billion – decreasing his fortune to $80.3 billion – while Musk was down $8.9 billion, which lowered his net worth to $34.7 billion.
The businessman was closely followed by Zuckerberg who was the fourth biggest loser, hemorrhaging $8.5 billion as the coronavirus outbreak threatened to completely derail the global markets.
Microsoft co-founder Bill Gate‘s net worth also decreased by $6.6 billion when the tech company’s market capitalization shrunk by $53 billion when it emerged their Chinese PC suppliers and manufacturers would be impacted by coronavirus.
The Dow plummeted a whopping 3,500 points (12.4 percent) since last Friday, according to Forbes, as confirmed cases of the disease increased to over 85,000 globally, with 2,933 deaths as of February 29.
The outbreak has been shutting down industrial centers, emptying shops and severely limiting travel all over the world as companies warn investors their finances will be hit due to supply chains and sales disruptions.
Fears of a local coronavirus epidemic in the US has paralyzed Wall Street and the selling shows no signs of slowing down anytime soon.
The World Health Organization (WHO) have warned against the possibility of a global coronavirus pandemic in the coming months.
If declared a pandemic, it could plunge US stocks into a full-blown bear market – but President Donald Trump is adament the killer virus is a Democratic “hoax.”
During a rally in South Carolina, Trump blasted the party as a 15-year-old student became a third confirmed case in 24 hours in the US as the markets dosedived.
“We’re totally prepared,” he insisted after it emerged the high schooler was struck down in Washington state as the fourth “unknown origin” case in the US.
More than 60 confirmed cases have emerged in the US after the virus spread to over 31 one countries and territories around the world, according to the CDC.
The Washington state student was one of two people in the state announced as cases of “presumptive” coronavirus — meaning they’ve tested positive but are still waiting for official CDC confirmation.
The Washington teen had never traveled abroad, officials said. Another presumptive case in-state was announced as a woman in her 50s who’d been to South Korea, a country being ravaged by the virus.
Earlier, it was announced that a 65-year-old in Santa Clara County, California and an elementary school teacher in Washington County, Oregon both had presumptive cases of the deadly virus.
Neither of those patients had any known history of travel to any countries with coronavirus outbreaks and neither are believed to be in close contact with anyone who has the virus.
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