Home » Economy » Jeff Bezos, Bill Gates, other billionaires lose nearly $24B in Monday's market slump
Jeff Bezos, Bill Gates, other billionaires lose nearly $24B in Monday's market slump
Coronavirus or oil-price war: Which caused markets to fall?
Fox News contributor and Kingsview Wealth Management CIO Scott Martin discusses the ongoing oil-price war and the coronavirus’ impact on markets.
The world's wealthiest individuals saw their fortune swiftly decline Monday when anxiety over the coronavirus and oil supply sent global stock markets tumbling.
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In one day's worth of trading, the Dow Jones Industrial Average sank 7.8 percent, its steepest drop since the financial crisis of 2008. The drop triggered the first automatic halts in trading in two decades.
The 2,000-point plummet cost five of the wealthiest people in the world $23.7 billion collectively, with Jeff Bezos, who currently holds the title of the richest man alive, taking one of the biggest hits, according to Forbes, which tracks the daily ups and downs of the world's richest people.
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