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Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week - Business - Nairaland

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Coronavirus Fears Cost The World’s 5 Richest People $36 Billion This Week / Top 5 Richest Igbo Men In 2019 / 25 Richest People In World In 2018 And Their Net Worth (2) (3) (4)

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Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by 2mercy: 2:27pm On Feb 29, 2020
The world’s five richest people finished their worst week ever in terms of dollars lost on Friday, hemorrhaging a combined $36.5 billion as the spread of the epidemic punished stocks and stoked worries about a global recession.

That’s a sum that dwarfs the market capitalization of any number of US corporate giants, including Ford Motor Co., Clorox and Snap Inc.

The week’s biggest loser was Amazon chief Jeff Bezos, who lost $11.7 billion during five blistering days of stock trading, leaving him with a fortune of $116 billion that nevertheless remained the world’s biggest, according to Forbes.

Bezos — who earlier this month shelled out $165 million for a Beverly Hills mansion — was seconded by Microsoft co-founder Bill Gates, the world’s No. 2 tycoon, who is down $5.7 billion with an end-of-week net worth of $112.6 billion.

“I hope it’s not that bad, but we should assume it will be until we know otherwise,” Gates wrote about the coronavirus in a Friday article in the New England Journal of Medicine, calling it potentially the “once-in-a-century pathogen we’ve been worried about.”

The uncertainty pummeled US stocks, which weathered their worst drop since the 2008 financial crisis with the Dow Jones industrial average losing more than 3,500 points. The S&P 500, meanwhile, tumbled more than 10 percent into correction territory just a week after it hit a record high.

In all, the market turmoil cost the world’s 500 richest people a collective $444 billion, according to Bloomberg.

Legendary investor Warren Buffett, the chairman of Berkshire Hathaway and the world’s fourth-richest person, got slammed with $6.1 billion in losses this week, including a $919 million paper loss on Friday alone.

Nevertheless, the folksy billionaire chose to take the long view in an interview with CNBC earlier this week.

“The real question is: ‘Has the 10-year or 20-year outlook for American businesses changed in the last 24 or 48 hours?’” Buffett said. “If it gives you a chance to buy something you like and you can buy it even cheaper then it’s your good luck.”

Tesla CEO Elon Musk ranks only at No. 27 among the world’s wealthiest, according to Forbes, but he ranked No. 2 in terms of losses this week, losing $6.8 billion amid headlines that the electric-car maker’s factory in China had been temporarily shut down by the coronavirus.

Facebook founder Mark Zuckerberg suffered the indignity of dropping from the No. 5 spot in the global wealth rankings to No. 6, and has seen his fortune shrink this week by $6.4 billion, to $71.4 billion.

Luxury goods billionaire Bernard Arnault, who was previously the only other person in the world besides Gates and Bezos to have a 12-digit net worth, saw his fortune dip below the $100 billion threshold, losing $6.6 billion this week to leave him at $97.8 billion.
https://www.vanguardngr.com/2020/02/coronavirus-fears-cost-the-worlds-5-richest-people-36-billion-this-week/

2 Likes

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by tsephanyah(f): 2:39pm On Feb 29, 2020
I'm sorry but I think everyone is jumping on the bandwagon to cause panic or for attention. Not to down play the virus but it seems similar to phenomena which like the flu effects many every year and could be deadly in the most vulnerable. Something weird is going on.

11 Likes 2 Shares

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by helinues: 4:04pm On Feb 29, 2020
grin

Regular feelings of a common man..

Rich or poor, life has never been fair to anyone

6 Likes 4 Shares

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by cRobo: 4:04pm On Feb 29, 2020
Money that can change my life forever

Time for me to find the cure and make money



I won't say a word
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Sirmuel1(m): 4:04pm On Feb 29, 2020
This is a bad time for billionaires like me. May God help us

72 Likes 3 Shares

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by manmind: 4:05pm On Feb 29, 2020

1 Like 1 Share

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Kayleb01: 4:05pm On Feb 29, 2020
Wow.... This is so serious shit
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by seunlayi(m): 4:05pm On Feb 29, 2020
This is very pathetic. Trying to be a friend to all cause naija this stress. What will it cost us to limit entry into this country for a short while compared to the emotional Corona virus most Nigerians has started suffering since yesterday?

Who do you think should be blamed for the first case recorded in naija?

For me, I will blame the FG for their lackadaisical (AUDIO) approach.


Like to blame the Nig. FG

Share to blame the Italian Govt

42 Likes 4 Shares

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by morikee: 4:05pm On Feb 29, 2020
Mad o

1 Like 1 Share

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Tomoyayi(m): 4:05pm On Feb 29, 2020
Billions lost just like that, ewo see money.
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by YorubaKinging: 4:06pm On Feb 29, 2020
Just know there's about to be a one world government which has been running low-key since centuries but the time is now to embrace one world government by appointing one person as a president of the United Nation
The WHO too is under this body , very soon they will start rolling out vaccines for the coronaVirus but for identified and registered citizens of the world
...be ready...

14 Likes 1 Share

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Augustinaz(m): 4:06pm On Feb 29, 2020
jjj
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by SEGLIZ: 4:06pm On Feb 29, 2020
nnnnnn
since they've chose to scare us I've chose to relocate to Venus.
no more accommodation for interested migrant.

7 Likes

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Gabson006: 4:06pm On Feb 29, 2020
Hmmmm
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by shogsman(m): 4:06pm On Feb 29, 2020
From the look of things, it will only get worse from here on

1 Like

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by NothingDoMe: 4:06pm On Feb 29, 2020
I am waiting for China to report their losses.

There's no way the Chinese Economy is doing okay at this rate.
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by CotenantNIG: 4:06pm On Feb 29, 2020
Stocks have really fallen

Wash your hands frequently

Regularly and thoroughly clean your hands with an alcohol-based hand rub or wash them with soap and water.

Why? Washing your hands with soap and water or using alcohol-based hand rub kills viruses that may be on your hands.
Maintain social distancing

Maintain at least 1 metre (3 feet) distance between yourself and anyone who is coughing or sneezing.

Why? When someone coughs or sneezes they spray small liquid droplets from their nose or mouth which may contain virus. If you are too close, you can breathe in the droplets, including the COVID-19 virus if the person coughing has the disease.


Avoid touching eyes, nose and mouth

Why? Hands touch many surfaces and can pick up viruses. Once contaminated, hands can transfer the virus to your eyes, nose or mouth. From there, the virus can enter your body and can make you sick.
Practice respiratory hygiene

Make sure you, and the people around you, follow good respiratory hygiene. This means covering your mouth and nose with your bent elbow or tissue when you cough or sneeze. Then dispose of the used tissue immediately.

Why? Droplets spread virus. By following good respiratory hygiene you protect the people around you from viruses such as cold, flu and COVID-19.
If you have fever, cough and difficulty breathing, seek medical care early

Stay home if you feel unwell. If you have a fever, cough and difficulty breathing, seek medical attention and call in advance. Follow the directions of your local health authority.

Why? National and local authorities will have the most up to date information on the situation in your area. Calling in advance will allow your health care provider to quickly direct you to the right health facility. This will also protect you and help prevent spread of viruses and other infections.

Stay informed and follow advice given by your healthcare provider

Stay informed on the latest developments about COVID-19. Follow advice given by your healthcare provider, your national and local public health authority or your employer on how to protect yourself and others from COVID-19.

Why? National and local authorities will have the most up to date information on whether COVID-19 is spreading in your area. They are best placed to advise on what people in your area should be doing to protect themselves.

Potential Room Mates on cotenant
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7 Likes 1 Share

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by tclimax(m): 4:06pm On Feb 29, 2020
way out

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by seunlayi(m): 4:06pm On Feb 29, 2020
Tomoyayi:
Billions just like that
do you know how much this already cost some Lagosian from yesterday till now ?

5 Likes 1 Share

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Muhylonaire(m): 4:06pm On Feb 29, 2020
Wetin concern me?

Watching World War Z grin

1 Like

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Lewisalexander(m): 4:06pm On Feb 29, 2020
These people just dey call billions anyhow cry

1 Like 1 Share

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Perfecttouchade: 4:07pm On Feb 29, 2020
Hmm ..the Earth is folding up gradually.. despite the sun not too high, the heat it produces is discomforting. The coronavirus is another way to tell us that there is limits to survival in this planet, brace up..if u know u know

2 Likes

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Bizibi(m): 4:07pm On Feb 29, 2020
This is not good,the Chinese government incompetence to contain the virus is affecting the world economy and human lives.
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Pierce008: 4:07pm On Feb 29, 2020
sad
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Tomoyayi(m): 4:08pm On Feb 29, 2020
seunlayi:
do you know how much this already cost some Lagosian from yesterday till now ?

True and some have made mad money too

5 Likes

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Nobody: 4:09pm On Feb 29, 2020
tclimax:
way out

For real?
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Dandsome: 4:09pm On Feb 29, 2020
This virus is hitting everyone
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by makydebbie(f): 4:09pm On Feb 29, 2020
tsephanyah:
I'm sorry but I think everyone is jumping on the bandwagon to cause panic or for attention. Not to down play the virus but it seems similar to phenomena which like the flu effects many every year and could be deadly in the most vulnerable. Something weird is going on.

Can someone ban this one?

1 Like

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by NothingDoMe: 4:09pm On Feb 29, 2020
Tomoyayi:


True and some have made mad money too
Yes. Fear sells a lot. That's why many run to prophets to see into the future or battle some unknown hardship.

People fear what they do not understand and ignorance is expensive.
Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by ZombieHUNT: 4:09pm On Feb 29, 2020
sad angry

Imagine a corona virus country with Buhari as president....

Chai... Deadly combo

I pity such country

1 Like 1 Share

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by Tomoyayi(m): 4:09pm On Feb 29, 2020
tclimax:
way out

How true is this?. Link please

1 Like 1 Share

Re: Coronavirus Fears Cost The World’s 5 Richest People $36bn This Week by gurunlocker: 4:09pm On Feb 29, 2020
This virus is affecting everything.... One fool was saying it didn't affect USA, when the only thing they know is to talk about bubu.


Even scared of people importing from China now....

3 Likes 2 Shares

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