In one of the biggest sell-off in global markets, all the major indices across the globe dropped between 2-3% on Wednesday. While this edge down has took away tons of money from investors, it has shockingly wiped off a whopping INR 7.3 lakh Crores of wealth from the top 500 richest people in the world.
Out of all, the wealthiest person and CEO of Amazon- Jeff Bezos has lost around Rs 66,000 Crore on single day. Referring to this, Bloomberg said that is the second time the market wrap has affected the richest billionaires in this year. While Bezos has made the highest loses ($9.1 billion) among the richest, Europe-based billionaire Bernard Arnault's wealth was down by INR 33,000 ($4.5 billion) and he's witnessed a fall of more than 50% from his profits this year.
In view of the news that China has escalated the security checks at the border, the shares of his company LVMH tumbled down heavily. Also, the overall wealth of Warren Buffett, chief of Berkshire Hathaway, was down by 33,000 Cr. Altogether, 67 billionaires from all the over world lost 2.3 lakh crores of their fortune to a single fall.