Economy

Proserpina

(2,352 posts)

32. World's Richest Lose $194 Billion In First Trading Week of 2016

Sat Jan 9, 2016, 08:40 PM

Jan 2016

The world’s 400 richest people lost almost $194 billion this week as world stock markets began the year with a shudder on poor economic data in China and falling oil prices.

Forty-seven billionaires lost $1 billion or more during the worst week for U.S. stocks since 2011, according to the Bloomberg Billionaires Index. The combined drop was almost seven times the $29 billion lost in the first five trading days of 2015. The 400 people on the index had a combined $3.7 trillion at the end of the week, compared with more than $4 trillion a year ago.

Amazon.com founder Jeff Bezos, the best-performing billionaire in 2015, lost the most, his fortune dropping $5.9 billion this week as shares of the world’s largest online retailer fell more than 10 percent. Bezos is the world’s fourth-richest person with $53.7 billion and more than doubled his net worth in 2015 as investors cheered profits at Amazon...

http://www.bloomberg.com/news/articles/2016-01-08/world-s-richest-lose-194-billion-in-first-trading-week-of-2016

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Highlight:

Weekend Economists Ask: R WEE Donne? January 8-10, 2016 [View all] Proserpina Jan 2016 OP

More after a little nap Proserpina Jan 2016 #1

First Rec. Sliding into the deep freeze in the Twin Cities after some snow. kickysnana Jan 2016 #2

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From your mouth to.... kickysnana Jan 2016 #35

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The local weather report Proserpina Jan 2016 #8

Max Keiser thinks we are toast Proserpina Jan 2016 #9

45 Million Americans Live in Poverty,but You Wouldn’t Know It From Watching (election) 2016 Coverage Proserpina Jan 2016 #10

Those people sinking back into poverty haven't had any time to recoup from their previous stay Proserpina Jan 2016 #11

Have you seen this train wreck yet? MattSh Jan 2016 #12

I am appalled Proserpina Jan 2016 #13

Didn't she fall and hit her head? Maybe they did some brain surgery??? glinda Jan 2016 #43

Sad, just sad and that cackle of a laugh is unnerving. Hotler Jan 2016 #16

Have Demeter & other SMW'er's already seen and discussed this?!? snot Jan 2016 #14

Demeter has been banned from DU since November 28th by the Hillay Swarm Proserpina Jan 2016 #15

Oh gawd, I knew that and forgot. It just seems incredible. snot Jan 2016 #18

I've seen it and the thought is scary. I suggest everyone keep some of their money... Hotler Jan 2016 #17

Thx, but it's not a practical solution for our lives' savings. snot Jan 2016 #19

There are no "practical solutions" Proserpina Jan 2016 #21

Prosperpina Punx Jan 2016 #33

I read about the bail-ins probably a year ago. What I find most stunning this time around magical thyme Jan 2016 #30

They are shell corporations Proserpina Jan 2016 #31

John Donne: WEE's feature for Jan. 9th Proserpina Jan 2016 #20

It might be safe to say that John Donne's Influence on English Literature Proserpina Jan 2016 #22

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Paper trail Proserpina Jan 2016 #23

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The Death of the Professional: Are Doctors, Lawyers and Accountants Becoming Obsolete? Proserpina Jan 2016 #26

Richard Burton reads John Donne's poem 'The Good Morrow' Proserpina Jan 2016 #27

Another biographical bit Proserpina Jan 2016 #28

A Nocturnal upon St. Lucy's Day By John Donne Proserpina Jan 2016 #29

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Well, my investment in Powerball didn't go as planned. Fuddnik Jan 2016 #38

Bail you out, like send beer? ...... n/t Hotler Jan 2016 #40

The horror! Hotler Jan 2016 #39

I've been blocked by the Hillary group. I feel honored. Hotler Jan 2016 #42