World's 500 Richest People Lose $35 Billion From Trump Turmoil

[riversedge]

Source: bloomberg.com



by Brendan Coffey and Jack Witzig
May 17, 2017, 4:16 PM CDT

Bezos falls to No. 3 position, $4.9 billion behind Gates
Facebook’s Zuckerberg is hardest hit with $2 billion drop

Bill Gates Photographer: Chris Ratcliffe/Bloomberg

The world’s richest people lost $35 billion Wednesday when global equity markets were rocked by political turmoil in the U.S., according to the Bloomberg Billionaires Index.

Bill Gates, the world’s richest person with $86.8 billion, lost $1 billion as shares of Microsoft Corp., his largest holding, tumbled 2.8 percent, the most in almost a year. Amazon.com Inc. co-founder Jeff Bezos, who came within $4 billion of taking the top spot from Gates earlier this week, dropped to No. 3 after losing $1.7 billion as shares of the online retailer slid 2.2 percent. Spanish retailing tycoon Amancio Ortega lost $355 million to end the day in the second position with $83.2 billion...........................................



Read more: https://www.bloomberg.com/news/articles/2017-05-17/world-s-500-richest-people-lose-35-billion-from-trump-turmoil

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[50 Shades Of Blue]

1. Will no one think of the bazillionaires!!!

[tavernier]

2. Oh the humanity!!

[DFW]

3. I admire their fortitude--not one "go fund me" page for any of them yet...... n/t

[Tanuki]

4. Easy come, easy go

[Thekaspervote]

5. When it hits THEM in the pocketbook that's when they will start shouting of with his head!

And, the rethugs will listen and act

[neeksgeek]

6. Cry me a river.

[Bernardo de La Paz]

7. That's nothing. Expect the Trump Slump to evaporate all of the Trump Bump and more. . . nt

[democratisphere]

8. The market is/was heavily overvalued. Back to something closer to reality.

[melm00se]

9. This kind of headline

and the reactions drives the attention away from the real question/implication:

How much have retirement accounts and pension funds been impacted? I willing to hazard a guess that it is a lot more (in raw dollars).

[former9thward]

10. How much have they been impacted since election day?

When something goes down a for a day is that the only thing that counts? Nobody lost anything in the stock market. Not the 500 richest or pension and retirement accounts. Because none of them sold anything.

[Achilleaze]

11. + 1,000

republican Comrade Casino and his cabal of colluding cronies are to blame.

[Demonaut]

12. chump change

[Nitram]

13. Putin is an intelligence genius.

[certainot]

14. how sad

[FigTree]

15. But since this is roughly a zero-sum game

who got the 35 billions? Nobody actually lost anything. You don't lose on valuation. You lose when you sell at a loss.

[knightmaar]

16. And like magic ... we're discussing impeachment

You'd think they'd wait a day to make it look less obvious.

[Coventina]

17. The heart bleeds....

[Vinca]

18. I would say "great," but average people and their retirements also took a hit.

[JCanete]

19. Finally something to congratulate Trump on. He is toast. nt

[MrScorpio]

20. I'm surprised that it's happening this early

I knew that it was going to happen eventually. Looks like Cheetolini is exceeding all expectations.

[Blue_Tires]

21. And *HERE* is where his fellow oligarchs start to turn against them...

When you start fucking with their cashflow, you might as well start digging your own grave....