July 28, 2021

Stock market crash: the biggest losers on the planet

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Photo credit: Getty Images

The shock to the stock markets caused by the Covid-19 pandemic, in which the Dow Jones Industrial Average collapsed by 17%, caused the fortunes of the 10 richest people in the world to fall by $ 57 billion. planet.

Warren Buffett is the one who lost the most this week. Indeed, his fortune fell $ 9.6 billion to $ 66.4 billion when markets closed last Friday. Led by Warren Buffet, investment firm Berkshire Hathaway saw its Class A shares drop 8.6% on Wednesday, partly because of the drop in travel, which is having financial repercussions for airlines Delta Air Lines and American Airlines. . For fear of the virus, many are wary of the plane, and the airline industry has called on U.S. officials to consider a $ 60 billion bailout.

Mark Zuckerberg was hit to the tune of $ 6.8 billion, the second biggest loss after Warren Buffett. Facebook shares fell amid concerns over declining ad revenue in the travel, retail and entertainment sectors. Earlier this week, the social network also granted bonuses of $ 1,000 to all full-time employees who work from home because of the Covid-19. A grant program of up to $ 100 million for small businesses has also been put in place.

Microsoft shares fell more than 13% last week, leading to a drop in the net worth of Bill Gates and Steve Ballmer, who lost $ 6.6 billion and $ 5.7 billion, respectively. Steve Ballmer, now with a $ 52.4 billion nest egg, has donated $ 1 million to community groups in Los Angeles. For his part, Bill Gates, who now weighs $ 97 billion, asked his foundation to release $ 100 million to detect, isolate and treat Covid-19 around the world. A few days ago, the computer scientist left the board of directors of Microsoft and Berkshire Hathaway to devote himself to his philanthropic activities.

Masayoshi Son lost a quarter of his fortune in a week, as his net worth fell by $ 4.9 billion to $ 14.1 billion. This is due to the fall in shares of investment and telecommunications company SoftBank to the tune of 30%. But since many American states are asking to privilege teleworking, the future of WeWork, the investment of SoftBank which offers coworking services, does not seem very well on board. The Japanese conglomerate has reportedly backed off a $ 3 billion deal to buy back shares from WeWork shareholders.

After months of performance, electric car maker Tesla has not held up. Elon Musk is now worth $ 27 billion, a drop of $ 4.1 billion since the start of the pandemic. The 48-year-old CEO defied the sheriff’s orders on Wednesday by leaving his Tesla factory in Fremont, California open. The activity of the builder had in fact been deemed “non-essential” by the sheriff. Confronted by the Alameda County Sheriff’s Office, Elon Musk reduced the workforce at his plant from 10,000 to 2,500 employees during the period of the pandemic.

On Wednesday evening, Elon Musk, who had previously described the panic caused by Covid-19 as “stupid”, tweeted that Tesla could “make artificial respirators in the event of a shortage,” adding later that he hoped it was not necessary.


The biggest losers from the Covid-19 pandemic:

Warren Buffett

Origin of fortune: Berkshire Hathaway

Country: United States

Change in net worth between March 13 and March 20: – $ 9.6 billion

Mark Zuckerberg

Origin of fortune: Facebook

Country: United States

Change in net worth: – $ 6.8 billion

Bill Gates

Origin of fortune: Microsoft

Country: United States

Change in net worth: – $ 6.6 billion

Steve Ballmer

Origin of fortune: Microsoft

Country: United States

Change in net worth: – $ 5.7 billion

Larry Page

Origin of fortune: Alphabet

Country: United States

Change in net worth: – $ 5.4 billion

Sergey Brin

Origin of fortune: Alphabet

Country: United States

Change in net worth: – $ 5.2 billion

Masayoshi Son

Source of wealth: SoftBank

Country: Japan

Change in net worth: – $ 4.9 billion

Carlos Slim Helu

Origine de la fortune: America Movil

Country: Mexico

Change in net worth: – $ 4.7 billion

Hui Ka Yan

Source of wealth: Evergrande Group

Country: china

Change in net worth: – $ 4.1 billion

Elon Musk

Origin of fortune: Tesla

Country: United States

Change in net worth: – $ 4.1 billion

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