Coronavirus is really taking a toll on businesses and billionaires alike. It also affected the richest man in the world and Founder of Amazon, Jeff Bezos, as he lost $7 billion ((2.57 trillion) in one night and $18 billion (6.6 trillion) in one month
Amazon’s share price reduced due to the outbreak of the virus. Bezos’s wealth dropped from $117 billion dollars overnight to $110 billion as its shares decreased by 7%. Wow! that is a huge sum of money.
The shares picked up briefly but however dropped from $129 billion over the last one month.
Jeff Bezos is however not the only one in this crisis, Telsa CEO, Elon Musk, also felt the impact of the virus on his wealth. According to him, the coronavirus panic is dumb as $4 billion of his wealth lopped off overnight. That would bring his losses for the month down to more than $12 billion.
Others include LVMH chief Bernard Arnault who lost $6 billion overnight. Arnault, whose wealth topped $110 billion in January and passed Bill Gates to become the second richest man, has seen his paper fortune fall by nearly $30 billion in just two months, while Warren Buffett the CEO of Berkshire Hathaway, has total losses of $12 billion over the past month with his total net worth summing up to about $76 billion.
Concerns over coronavirus have roiled markets and torched hundreds of billions in paper wealth from the world’s billionaires over the past month. But last night’s declines, driven by a drop in oil prices, could be the largest overnight wealth loss in nearly a decade.