Mark Zuckerberg Has Lost $3 Billion This Week - TIME Business

Mark Zuckerberg Has Lost $3 Billion This Week

Posted: 04 Mar 2018 01:02 PM PST

It’s been an expensive week for the world’s richest people.
Mark Zuckerberg is nursing the biggest fall after losing $3.2 billion as large cap stocks disappointed for a fourth straight day.
Losses for the Facebook Inc. chief executive officer topped those of Spain’s Amancio Ortega and Mexico’s Carlos Slim, who were both down $2.4 billion as of 1 p.m. in New York. The fortunes of Alphabet Inc.’s Larry Page and Sergey Brin each dwindled more than $2 billion on the Bloomberg Billionaires Index since markets opened on Monday.

The world's 500 richest people have lost $128 billion since Monday, more than the entire market cap of McDonalds https://t.co/CWHRKA95CD pic.twitter.com/XadXviFiUO

— BBG Billionaires (@BBGBillionaires) March 2, 2018

The world’s 500 richest people have lost a combined $107 billion this week, more than the entire market capitalization of Goldman Sachs Group Inc. or Lockheed Martin Corp. The wealth of U.S. billionaires fell the most, declining a combined $34 billion. Chinese tycoons saw $16 billion erased.
The Dow Jones Industrial Average has slid about 3.5% this week as President Donald Trump invited a trade war and Federal Reserve Chairman Jerome Powell fueled speculation the central bank plans to quicken the pace of monetary tightening.