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Market tumble wipes out almost $100bn from world’s richest

Jeff Bezos, the world’s richest person, saw his fortune drop by $5.3 billion.

Swooning markets Thursday cost the world’s 500 richest people $93 billion in net worth, and 20 of them lost at least $1 billion each.

Jeff Bezos, the world’s richest person, saw his fortune drop by $5.3 billion to $113.2 billion, according to the Bloomberg Billionaires Index, as his Amazon.com tumbled 4.7% on the day. Berkshire Hathaway Chairman Warren Buffett’s wealth dropped $3.5 billion and Facebook’s Mark Zuckerberg lost $3.4 billion.

Elon Musk came back to Earth, dropping $1.1 billion in net worth after his Space Exploration Technologies successfully launched a Tesla sports car on a journey around the sun. Shares of Tesla, which he also leads, plunged 8.6%.

The Dow Jones Industrial Average and S&P 500 Index both tumbled to their lowest levels since November as fears of rising interest rates and inflation intensified.

© 2018 Bloomberg

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