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Bloomberg: World's Richest Lose $194 Billion In First Trading Week of 2016

Forty-seven billionaires lost during the worst week for U.S. stocks since 2011

Baku. 9 January. REPORT.AZ/ The world’s 400 richest people lost almost $194 billion this week as world stock markets began the year with a shudder on poor economic data in China and falling oil prices, Report informs citing Bloomberg.

Forty-seven billionaires lost $1 billion or more during the worst week for U.S. stocks since 2011, according to the Bloomberg Billionaires Index. The combined drop was almost seven times the $29 billion lost in the first five trading days of 2015. The 400 people on the index had a combined $3.7 trillion at the end of the week, compared with more than $4 trillion a year ago.

The world’s richest person, Bill Gates, fell $4.5 billion to $79.2 billion, while Spain’s Amancio Ortega, the second-richest, dropped $3.4 billion to $69.5 billion.

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