The nine wealthiest men in the United States have collectively lost $14.7 billion (N5,614,224,000,000) in a single day after the market took a hit at the start of the week.
Forbes reports that the Dow Jones Industrial Average fell 650 points, the S&P 500 fell 1.9%, and the Nasdaq Composite was down 1.6% on Monday, October 26.
The market drop was occasioned by the spike in the country’s coronavirus cases alongside a lack of a second stimulus plan ahead of upcoming earnings reports from tech companies.
Mark Zuckerberg of Facebook suffered the biggest loss as his net worth stood at roughly $101.8 (N38,879,456,000,000) billion after market closed on Monday and he lost $2.8 billion (N1,069,376,000,000).
Bill Gates lost $1.7 billion (649,264,000,000), while Alice Walton of Walmart lost $635 million.
Others whose net worth dropped included Elon Musk and Warren Buffett. While Musk lost $66 million, Buffet lost $1.5 billion.
Steve Ballmer of Microsoft lost $1.7 billion, while Larry Ellison of Oracle lost $2.6 billion. Larry Page and Sergey Brin of Google lost $2 billion and $1.9 billion respectively.
However, chief executive officer of Amazon Jeff Bezos added to his fortune, becoming the only billionaire on the list whose fortune increased. He added $159 million (N60,725,280,000) to his wealth.