Tuesday, January 5, 2016

World's five richest lose US$8.7 billion in year's trading debut

The world's five richest people lost US$8.7 billion ($12.3 billion) on Monday in a global stock sell-off sparked by weak factory data in China and a flareup in tensions between Saudi Arabia and Iran.

Amazon.com Inc founder Jeff Bezos led decliners on the Bloomberg Billionaires Index in the first trading day of 2016, losing US$3.7 billion as the world's largest online retailer fell 5.8%. His net worth is now US$56 billion.

Spain's Amancio Ortega dropped US$2.5 billion to US$70.4 billion as his Inditex SA, the biggest fashion retailer, fell 3.5%.

Berkshire Hathaway Inc Chief Executive Officer Warren Buffett, Mexico's Carlos Slim and Microsoft Corp co-founder Bill Gates, the richest person on the planet, lost a combined US$2.5 billion.

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