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Shaken stock markets cost US tycoons $93B in one day

Shaken stock markets cost US tycoons $93B in one day

ArabFinance: American tycoons lost a total of $93 billion on September 13th, after the stock market tumbled following the release of inflation data that was higher than expected, according to Bloomberg.

Amazon's founder Jeff Bezos lost $9.8 billion, while the wealth of Tesla’s Elon Musk became $8.4 billion smaller.

The wealth of Warren Buffet and Bill Gates decreased by $3.4 billion and $2.8 billion, respectively.

Since the beginning of 2022, the world’s top 500 wealthiest lost around $1.2 trillion. Facebook’s Mark Zuckerberg, for instance, lost 54% of his wealth, or $68.3 billion, year-to-date.

It is worth noting that the US’ Consumer Price Index for All Urban Consumers edged higher by 0.1% month-on-month (MoM) in August 2022, but slowed down annually to 8.3%.

 

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13 Jun 2022
Delta Sugar SUGR
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