World's Richest Down $305 Billion as Markets Extend Global Rout

  • Jeff Bezos remains year's hardest hit, dropping $8.9 billion
  • The 10 biggest fortunes on Earth shed a combined $44.7 billion

Stock Market Selloff Exacts Toll on World's Richest

Plunging stock markets are exacting a toll on the world’s biggest fortunes.

The 400 richest people have lost $305 billion from their combined net worth this month as global equities tumbled for the worst start to a year on record on mounting concern that worldwide growth is faltering.

The billionaires lost more than $115 billion this week, with 76 taking hits of at least $1 billion in January, according to the Bloomberg Billionaires Index. Seven shed more than $1 billion on Friday alone as the Dow Jones Industrial Average sank 391 points, European stocks fell into a bear market and the Shanghai Composite Index wiped out gains from an unprecedented state-rescue campaign.

Wang Jianlin.

Photographer: Chris Ratcliffe/Bloomberg Inc. founder Jeff Bezos led decliners on the Bloomberg index, losing $8.9 billion since Jan. 1 and $1.9 billion Friday when the Internet retailer declined 3.85 percent. Bill Gates, the world’s richest person, has lost $6.8 billion of his net worth this year and Wang Jianlin, China’s richest person, is down $6.4 billion.

BillionaireYTD DeclineNet WorthYTD Percentage Change
Jeff Bezos-$8.9 billion$50.8 billion-14.9%
Bill Gates-$6.8 billion$77.0 billion-8.1%
Wang Jianlin-$6.4 billion$30.0 billion-17.6%
Carlos Slim-$5.8 billion$46.4 billion-11.2%
Amancio Ortega-$5.7 billion$67.2 billion-7.8%

Only nine of the 400 billionaires have increased their net worth in 2016, led by Indian oil billionaire Mukesh Ambani, chairman of Mumbai-based Reliance Industries Ltd., who’s added $620 million.

The combined net worth of the 400 billionaires is $3.6 trillion, a 16 percent decline from their peak of $4.3 billion on May 18, 2015.