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Economies are tanking worldwide due to lockdowns and other extreme measures put in place to contain the spread of the coronavirus.
A worldwide pandemic is likely to leave a lasting structural impact on the global economy, and our own.
While many of us are feeling the financial pinch and others worry about job security as companies lose money, the world’s richest people are also experiencing losses.
As Forbes puts it with regards to their list of ‘The Richest People in the World’:
The richest people on Earth are not immune to the coronavirus. As the pandemic tightened its grip on Europe and America, global equity markets imploded, tanking many fortunes.
As of March 18, when we finalized this list, Forbes counted 2,095 billionaires, 58 fewer than a year ago and 226 fewer than just 12 days earlier, when we initially calculated these net worths. Of the billionaires who remain, 51% are poorer than they were last year. In raw terms, the world’s billionaires are worth $8 trillion, down $700 billion from 2019.
Despite losses, Jeff Bezos, Bill Gates and Bernard Arnault have managed to retain their positions in the top three.
Take in the top 10:
1. Jeff Bezos
- Net worth: $113 billion
- Age: 56
- Country: US
- Industry: Technology
- Source of wealth: Amazon
2. Bill Gates
- Net worth: $98 billion
- Age: 64
- Country: US
- Industry: Technology
- Source of wealth: Microsoft
Gates has been quite vocal about the COVID-19 pandemic. To read his thoughts go here, here and here.
3. Bernard Arnault (and family)
- Net worth: $76 billion
- Age: 71
- Country: France
- Industry: Fashion and Retail
- Source of wealth: LVMH
4. Warren Buffett
- Net worth: $67.5 billion
- Age: 89
- Country: US
- Industry: Finance and investments
- Source of wealth: Berkshire Hathaway
5. Larry Ellison
- Net worth: $59 billion
- Age: 75
- Country: US
- Industry: Technology
- Source of wealth: Oracle
6. Amancio Ortega
- Net worth: $55.1 billion
- Age: 84
- Country: Spain
- Industry: Fashion and Retail
- Source of wealth: Zara
7. Mark Zuckerberg
- Net worth: $54.7 billion
- Age: 35
- Country: US
- Industry: Technology
- Source of wealth: Facebook
8. Jim Walton
- Net worth: $54.6 billion
- Age: 71
- Country: US
- Industry: Fashion and Retail
- Source of wealth: Walmart
9. Alice Walton
- Net worth: $54.4 billion
- Age: 70
- Country: US
- Industry: Fashion and Retail
- Source of wealth: Walmart
10. Rob Walton
- Net worth: $54.1 billion
- Age: 75
- Country: US
- Industry: Fashion and Retail
- Source of wealth: Walmart
That rounds out the top 10. For the full list, head here.
[source:forbes]
