World’s richest nearing US$1 trillion in losses

WorldNews

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Bloomberg From New York to Paris, Sao Paulo to Hong Kong, the losses are unprecedented for the world’s wealthiest. The world’s 500 richest people collectively lost US$331 billion on Thursday, the biggest one-day drop in the eight-year history of the Bloomberg Billionaires Index. That pushed the group’s year-to-date losses to US$950 billion. This week’s collapse marks the end of a decade of soaring markets and cheap money that helped the planet’s wealthiest people amass a record US$6.1 trillion...

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