If you were to add up the wealth of every billionaire on the planet and then measure their net worth over the last few months, you’d see a shocking fall. Since January 1, the wealthiest people on the planet have seen their net worths decrease $436 billion. Today they control a combined $5.2 trillion. Previously they controlled around $5.6 trillion. In the last week alone, they’ve lost nearly $200 billion as the S&P 500 Index suffered their worst declines in several years. Mark Zuckerberg is $10 billion poorer than he was at the end of 2017 as Facebook shares lost 14% of their value in the wake of a data privacy scandal that just won’t seem to go away. Larry Ellison lost $7 billion last week when Oracle stock fell 10% after news showed slower-than-expected growth of its cloud business. Jeff Bezos lost $6 billion, as did Warren Buffett. Larry Page lost $4.6 billion. Do you think the worst is over? Or is this just the tip of the iceberg?
