In just eight minutes, Federal Reserve Chairman Jerome Powell triggered a stock market crash that quickly hit the combined fortunes of the world’s richest people.
According to Bloomberg estimates, after the Fed chief’s speech at the department’s annual policy forum, where Powell mentioned that the US Central Bank will continue to raise interest rates to reduce inflation, the S&P 500 index fell 3.4%. This is the worst drop since mid-June.
The high-tech Nasdaq 100 index, which includes Microsoft Corp., Amazon.com Inc., Tesla Inc. and Alphabet Inc., fell more than 4%.
Known billionaires have lost at least $78 billion according to the Bloomberg Billionaires Index.
$5.5 billion removed from Elon Musk’s fortune, Jeff Bezos lost $6.8 billion.
Bill Gates and Warren Buffett’s fortunes fell by $2.2 billion and $2.7 billion, respectively, while Sergey Brin’s fortune fell below $100 billion (he also lost about $5 billion). millions).
According to the Forbes Real-Time Rating updated in real time, the wealth of the ten richest people in the world has decreased by at least $30 billion.
As a result, Elon Musk’s capital is now estimated at $257.3 billion, Jeff Bezos – at $155.3 billion.
And only the Indian businessman Gautam Adani emerged victorious from this situation: the head of the Adani Group, on the contrary, became $1.6 billion richer (now he owns $140.1 billion).
Author:
Ekaterina Alipova
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
