Top 5 billionaires lost $8 billion in a day

The top 5 billionaires, as a group did not do well at the last trading session of the week amid an era showing the U.S dollar rebounded.

By Olumide Adesina

The top 5 billionaires on planet earth had an unimpressive showing at the most recent trading session.

The top 5 billionaires most recent daily loss stood at $7.754 billion

Elon Musk

The world’s richest person printed the highest wealth loss for the day as Elon’s wealth dropped by $4.28 billion. His wealth is now estimated to be worth $197 billion.

Tesla suffered significant losses at Friday’s trading session, on recent reports revealing its Model 3 is now only the fourth-best selling pure electric vehicle (EV) in Europe.

Investors got alarmed that Tesla got outpaced by Renault and Volkswagen in an important car market like Europe.

• Elon Musk, who a few weeks ago, surpassed Jeff Bezos to become the world’s richest person, is now the first person in modern history to ever surpass a wealth valuation of over $200 billion.
• However, for the long term, Stock experts anticipate that a Democratic-controlled U.S Senate is bullish for Tesla, on the bias that there would be more pro-renewable investments, at least for the next few years.

Jeff Bezos

Jeff Bezos, the current CEO, and founder of Amazon is presently valued at about $182 billion, printing a wealth drop of $1.26 billion for the day.

• Investors went short on the trillion-dollar valued company at its most recent trading session, taking into consideration that the tech company had become too powerful, particularly when Amazon dropped Parler, a social network that gained President Trump’s die-hard supporters after Twitter suspended his account.

Bill Gates

In the third position is another popular tech genius, Bill Gates, the founder of the most valuable software company, Microsoft.

For many years, Gates had been the world’s richest man. He now has a wealth fortune of $132 billion, as recent data revealed it dropped by $814 million for the day.

Bernard Arnault

Europe’s top entrepreneur and French celebrated fashion icon, Bernard Arnault, is fourth on the list with a fortune now estimated to be around $109 billion, with its most recent drop by $3.55 billion.

• He is the only billionaire on the top 5 that isn’t from the tech ecosystem.
• Most of his wealth comes from his controlling stake of LVMH, controlled through his holding known as Christian Dior.

Mark Zuckerberg

Facebook’s founder, Mark Zuckerberg is fifth on the list, with a fortune estimated to now be valued at $95 billion, on the account, he was the only billionaire in the top 5 list that had a wealth gain for the day.

• His most recent wealth daily gain stood at $2.15 billion amid an era of reports revealing global investors are weighing significantly on Facebook amid antitrust and privacy concerns.

Bottom line

The top 5 billionaires, as a group, infamously did not do well at the last trading session of the week amid an era showing the U.S dollar rebounded strongly.

Growing concerns that the leading global technology brands have grown too powerful has led some investors to trim their bullish bets cumulatively on the top 5 billionaires’ businesses.