World’s Richest Lose $26 Billion on Fiscal Cliff and Europe Debt

The 100 wealthiest people on the planet lost $26.1 billion from their collective net worth this week as global markets fell amid concern about the U.S.’s so-called fiscal cliff and Europe’s debt crisis.

Microsoft Corp. co-founder Bill Gates, 57, lost $1.8 billion as shares of the world’s largest software maker retreated 8 percent during the week. The Redmond, Washington-based company replaced its Windows division chief Steven Sinofsky on Wednesday, less than a month after the release of Windows 8. Gates, the world’s second-richest man, is worth $60.4 billion, according to the Bloomberg Billionaires Index.