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FINANCIAL CHRONICLE™ » FUN CHRONICLE™ » Markets Knock Billions Off World's Richest

Markets Knock Billions Off World's Richest

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pirate

pirate
Senior Equity Analytic
Senior Equity Analytic
Quite old article but worth looking at the big picture.

The extreme gyrations in the stock market that began late last week
have knocked billions of dollars off the fortunes of the world’s
richest. Here, we compare what some of the wealthiest tycoons are worth
as of market close on Monday Aug. 8 to their net worth back in March,
when Forbes released our 2011 World Billionaires’ list. For the 2011
World Billionaires’ list, we used stock prices and currency exchange
rates from Feb. 14, 2011 to calculate net worths.

Relatively speaking, consumer products-focused billionaires didn’t see their fortunes drop as much as others. Spain’s Amancio Ortega,
founder of clothing chain Zara, has gotten richer since March. He was
worth $31 billion then and $33.5 billion as of end of day Aug. 8.



Carlos Slim Helu: The world’s richest man’s net worth is down more than $12 billion

March 2011: $74 billion

Now: less than $62 billion

His main stock, America Movil (AMX), has fallen 20% since its April peak.




http://www.forbes.com/sites/kerryadolan/2011/08/09/worlds-richest-get-clobbered/

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