• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, May 15, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

World’s richest 500 people lose $135 billion amid fears over Evergrande loss

by Rohit Yadav
September 21, 2021 - Updated On September 24, 2021
in Business, Markets, News, Tech, Trending
Reading Time: 2 mins read
0
Elon Musk and Jeff Bezos
TwitterWhatsappLinkedin

The world’s richest 500 people lost a combined $135 billion as a result of a worldwide stock market sell-off prompted by fears over China Evergrande Group. According to the Bloomberg Billionaires Index, Elon Musk of Tesla Inc. led the losses, with his world-leading net worth falling from $7.2 billion to $198 billion. Jeff Bezos, the founder of Amazon.com Inc, was in second place with a net worth of $194 billion, down $5.2 billion.

You might also like

Samsung Integrates Gemini AI Assistant into Galaxy Watch6 and Buds3

OpenAI to Increase Frequency of AI Safety Test Result Publications

OpenAI Eyes UAE for Potential Data Center Expansion

Elon Musk and Jeff Bezos
Image Source: Daily Advent

Fears of financial contagion were exacerbated by a liquidity constraint at Evergrande, China’s most indebted developer, and a regulatory assault on the country’s real estate industry. Markets also responded to Treasury Secretary Janet Yellen’s warning that if Congress fails to increase the debt ceiling, the country will face economic disaster. The S&P 500 index fell 1.7 percent, its worst drop since May.

Hui Ka Yan, the founder and chairman of Evergrande, slipped to 359th place on the Bloomberg Billionaires Index after the company’s shares sank to their lowest levels in almost 11 years. Evergrande’s stock last traded at this level in May of 2010. His net worth was $7.3 billion, down roughly $16 billion from the previous year and from a high of $42 billion in 2017.

Some of the steepest losses on Hong Kong’s Hang Seng Index were driven by Hong Kong’s largest property developers. Property moguls Lee Shau-Kee, Yang Huiyan, Li Ka-Shing, and Henry Cheng together lost more than $6 billion. Colin Huang, the creator of the e-commerce site Pinduoduo Inc., has lost more money than anybody else in China this year, including $2.3 billion on Monday.

Other losers were Bernard Arnault, CEO of Louis Vuitton SE, has a net worth of $157 billion (down $2 billion), Bill Gates, co-founder of Microsoft, has a net worth of $149 billion (down $1.94 billion), and Mark Zuckerberg, the creator of Facebook, has a net worth of $132 billion (down $3.27 billion). The top five wealthiest people in the world have lost over $26 billion so far this week.

Facebook Apple
Source: NBC News

Larry Page and Sergey Brin, co-founders of Google, were ranked sixth ($124 billion, down $1.9 billion) and seventh ($119 billion, down $1.8 billion) on the Bloomberg Billionaire Index, respectively.

Steve Ballmer, the former CEO of Microsoft, was ranked eighth on the list, with a net worth of $105 billion (down $1.9 billion). Oracle Corporation’s Larry Ellison was ranked ninth with a total net worth of $100 billion (down $764 million), and multibillionaire investor Warren Buffet was ranked tenth with a total net worth of $100 billion (down $701 million).

Tags: Elon MuskEvergrande GroupJeff BezosMark Zuckerberg
Tweet54SendShare15
Previous Post

Twitter goes berserk with responses following Bezos’ pledge to spend $1 billion on land and ocean conservation.

Next Post

Uber slips behind DoorDash in market value

Rohit Yadav

Hi! I'm Rohit, If you like reading about markets, technology and business, you've come to the right place. Catch me: [email protected]

Recommended For You

Samsung Integrates Gemini AI Assistant into Galaxy Watch6 and Buds3

by Sneha Singh
May 15, 2025
0
Samsung Integrates Gemini AI Assistant into Galaxy Watch6 and Buds3

Samsung is going big with wearable tech this winter by bringing its Gemini AI assistant to the Galaxy Watch6 series and later models. Samsung is bringing its robust...

Read more

OpenAI to Increase Frequency of AI Safety Test Result Publications

by Sneha Singh
May 15, 2025
0
OpenAI to Increase Frequency of AI Safety Test Result Publications

OpenAI released a new web page to share its internal AI safety test results, a major step toward increased transparency in the company's development process. OpenAI's AI lab...

Read more

OpenAI Eyes UAE for Potential Data Center Expansion

by Sneha Singh
May 15, 2025
0
OpenAI Eyes UAE for Potential Data Center Expansion

Tech giant OpenAI is set to make a significant foray into the United Arab Emirates with the development of new data center capacity, sources close to the matter...

Read more
Next Post
Uber slips behind DoorDash in market value

Uber slips behind DoorDash in market value

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?