Money Market Tumble Wipes Out Almost $100 Billion From World's Richest

00:31  10 february  2018
00:31  10 february  2018 Source:   Bloomberg

Ikea Fortune Falls to No One After Billionaire Founder's Death

  Ikea Fortune Falls to No One After Billionaire Founder's Death When Ikea’s Ingvar Kamprad died Saturday at age 91, he was ranked No. 8 on the Bloomberg Billionaires Index thanks to his control of a global retail fortune valued at $58.7 billion. His wealth will now be dissipated because of a unique structure put in place by Kamprad to secure the long-term independence and survival of the Ikea concept. Kamprad disputed his status as one of the richest men on the planet, having decades earlier placed control of the world’s largest furniture seller into a network of foundations and holding companies.Kamprad’s heirs now won’t have direct control of the firm.

Jeff Bezos, the world ’ s richest person, saw his fortune drop by .3 billion to 3.2 billion , according to the Bloomberg Billionaires Index, as his Amazon.com Inc. tumbled 4.7 percent on the day. Sign up and never miss out on market moving news, top trends and compelling perspectives.

Jeff Bezos, the world ’ s richest person, saw his fortune drop by .3 billion to 3.2 billion , according to the Bloomberg Billionaires Index, as his Amazon.com Inc. tumbled 4.7 percent on the day. Sign up and never miss out on market moving news, top trends and compelling perspectives.

Jeff Bezos said his wealth drop by $5 billion. © Peter Kramer/NBC/NBC NewsWire via Getty Images Jeff Bezos said his wealth drop by $5 billion.

Swooning markets Thursday cost the world’s 500 richest people $93 billion in net worth, and 20 of them lost at least $1 billion each.

Jeff Bezos, the world’s richest person, saw his fortune drop by $5.3 billion to $113.2 billion, according to the Bloomberg Billionaires Index, as his Amazon.com Inc. tumbled 4.7 percent on the day.

Berkshire Hathaway Inc. Chairman Warren Buffett ’s wealth dropped $3.5 billion and Facebook Inc.’s Mark Zuckerberg lost $3.4 billion.

Elon Musk came back to Earth, dropping $1.1 billion in net worth after his Space Exploration Technologies Corp. successfully launched a Tesla Inc. sports car on a journey around the sun. Shares of Tesla, which he also leads, plunged 8.6 percent.

The Dow Jones Industrial Average and S&P 500 Index both tumbled to their lowest levels since November as fears of rising interest rates and inflation intensified.

Telstra's profit is down 5% thanks to the disastrous tech investment now worth $0 .
Telstra posted a statutory profit of $1.7 billion for the six months to December, down 4.9%. Revenue was flat but the company added mobile subscribers.Telstra

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