Imagine losing $3.5 billion in just one day. That’s what happened to Europe’s richest person, Bernard Arnault, on Thursday – and he wasn’t alone.
The combined net worth of the world’s 500 wealthiest individuals fell by the most in six months.
Luxury stocks tumbled after reports of a Chinese trade crackdown, and U.S. shares slid on concerns about rising Treasury yields.
Tech moguls weren’t spared, with the fortunes of five of the world’s most famous names plunging $8.4 billion between them.
Take a look at who has what in the Bloomberg Billionaires Index, our ranking of the 500 richest people on the planet
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