Pursuits
World’s Richest Lose $24.4 Billion as Adelson’s Fortune Falters
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The world’s richest people lost a combined $24.4 billion this week as concerns over Spain’s rising borrowing costs and the sputtering American job market caused global markets to tumble.
Casino mogul Sheldon Adelson lost $2.2 billion. Shares of his Nevada-based Las Vegas Sands Corp. fell 10.3 percent during the week. On Friday, Macau casinos reported gambling revenue rose 7.3 percent in May, its slowest pace since July 2009. Adelson, 78, is the 22nd richest person in the world, according to the Bloomberg Billionaires Index.