Billionaires' wealth was blown away in the American 'storm', from Musk to Ambani-Adani, with huge loss The reason for the decline in the wealth of billionaires is the crash of the US stock market. There is an atmosphere of fear among investors due to the increase in the interest rate by the Fed Reserve and indications about the future.
Billionaires around the world have to pay the price of the tornado in the US stock market. The wealth of the world's top 70 billionaires has fallen drastically. tesla CEO Elon Musk has had to pay the biggest price, while India's gautam adani has also suffered a lot.
According to the Bloomberg Billionaires Index, Elon Musk is worth $245 billion and has lost $9.03 billion. India's second-ranked gautam Adani's wealth has come down by $3.50 billion to $142 billion. amazon CEO jeff bezos has suffered a setback of $3.72 and his net worth is $137 billion. He remains the third richest billionaire in the world.
Reliance industries Chairman mukesh Ambani's wealth has dropped by $1.77 billion and he remains the ninth richest billionaire with a net worth of $85.2 billion.
Reason for the decline: The reason for the decline in the wealth of billionaires is the crash of the US stock market. There is an atmosphere of fear among investors due to the increase in the interest rate by the Fed Reserve and indications about the future.
Due to this, the index - Dow Jones Industrial Average, S&P 500, and Nasdaq Composite fell 2 percent or more in the last trading day. Let us tell you that on Friday, the indian markets were also battered. Due to this the wealth of indian billionaires has decreased.
