The beginning of February cost a fortune to the richest and mightiest people of the planet. In a single day moneybags lost over 110 billion dollars. But it was not their absent-mindedness that caused such huge losses but a record plunge in the US stock indices.
The S&P 500 and Nasdaq fell by over 2 percent, but the Dow Jones Industrial Average registered much bigger losses, crashing by whooping 666 points. For the whole history, the US stock market has seen only 9 similar crashes before. As a result, 500 wealthiest people of the globe lost more than 110 billion dollars. Some experts think that the US stock market reacted to improvements in the economic development and, consequently, to a possibility of sooner monetary policy tightening by the Federal Reserve.
A rating of the steepest losses was compiled promptly. The first place was designated to Warren Buffet, the founder and CEO of Berkshire Hathaway. On this somber day, 5.1 billion dollars were out of his pocket. Facebook’s Mark Zuckerberg took the second place, losing 3.6 billion dollars. Amazon founder Jeff Bezos made the top three with a loss of 3.3 billion dollars.
