Take
a moment to think about the pridiciment of the world's moneybags
Bloodbath:
All But Two Billionaires Lose Big Money On Wednesday
30
May, 2012
Sometimes
no one wins.
On
Wednesday, Wall
Streettumbled
and it took the world’s billionaires down with it. All but two of
the 50 billionaires Forbes tracks in
real time lost
money in the markets, and many of them suffered hundreds of millions
of dollars in losses.
As
nearly everybody went home a loser, some of the biggest names topped
the charts. Sheldon
Adelson,
casino king and head of Las
Vegas Sands,
dropped $625 million on the day. Li
Ka-Shing, Asia’s
richest man, lost $569 million and Lakshmi
Mittal,
the Indian steel titan, saw $522 million disappear from his books.
The Facebook billionaires Mark
Zuckerberg andDustin
Moskovitz both
continued their downward march. The company closed at a new low of
$28.19, costing the pair of founders a combined $395 million. This is
after losing
billions yesterday.
Only
two of our real-time billionaires fought off losses on Wednesday, but
neither was very far into the black. Richard
Kinder rode
a tiny bump in his Kinder
Morgan energy
company stock to a mere $40 million addition to his net worth. That
might be a lot to the average person, but Kinder has over $8 billion
in assets. A good day, especially compared to his peers, but nothing
to celebrate about.
Same
for Mikhail
Prokhorov,
Russian tycoon and owner of the newly-christened Brooklyn Nets
basketball team. The $13 million he gained today is only 1/1000 of
his total net worth.
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