$93 billion disappeared! Markets in shock

After the inflation data announced yesterday in the USA that shook the markets, the wealth of the richest Americans melted by $ 93 billion. This was recorded as the 9th largest daily depreciation in history.

The sharp decline in the US Stock Exchanges yesterday, with the expectation that the inflation in the USA was higher than the forecasts and that the Fed would make more aggressive interest rate increases, was effective in the melting of the wealth of billionaires.

According to the Bloomberg Billionaires Index, the wealth of Amazon founder Jeff Bezos decreased by $ 9.8 billion, while Tesla CEO Elon Musk’s fortune decreased by $ 8.4 billion. Mark Zuckerberg, Larry Page, Sergey Brin, and Steve Ballmer also lost more than $4 billion each. The wealth of Warren Buffett and Bill Gates, who are on the richest list, also decreased by $3.4 billion and $2.8 billion, respectively.

Yesterday in the US, the S&P 500 Index recorded the biggest drop since June 2020 with 4.4 percent, while the technology-heavy Nasdaq stock market fell 5.5 percent.

Fed Chairman Jerome Powell’s 8-minute speech last month also caused the wealth of US billionaires to melt by $78 billion.

The wealth of the world’s 500 richest people has melted by nearly $1.2 trillion since the beginning of the year.

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