U.S. markets close in 9 minutes
  • S&P 500

    4,140.83
    +12.84 (+0.31%)
     
  • Dow 30

    33,685.14
    -60.26 (-0.18%)
     
  • Nasdaq

    13,987.54
    +137.54 (+0.99%)
     
  • Russell 2000

    2,227.85
    -5.93 (-0.27%)
     
  • Crude Oil

    60.42
    +0.72 (+1.21%)
     
  • Gold

    1,745.50
    +12.80 (+0.74%)
     
  • Silver

    25.40
    +0.53 (+2.14%)
     
  • EUR/USD

    1.1952
    +0.0034 (+0.29%)
     
  • 10-Yr Bond

    1.6230
    -0.0520 (-3.10%)
     
  • GBP/USD

    1.3758
    +0.0016 (+0.11%)
     
  • USD/JPY

    109.0600
    -0.3160 (-0.29%)
     
  • BTC-USD

    62,925.43
    +2,828.45 (+4.71%)
     
  • CMC Crypto 200

    1,349.72
    +55.73 (+4.31%)
     
  • FTSE 100

    6,890.49
    +1.37 (+0.02%)
     
  • Nikkei 225

    29,751.61
    +212.88 (+0.72%)
     

21 Billionaires Who Lost Big in 2020

Cody Bay
·6 min read
Mandatory Credit: Photo by Ben Margot/AP/Shutterstock (6469878b)MOORE Gordon Moore, the legendary Intel Corp.
Mandatory Credit: Photo by Ben Margot/AP/Shutterstock (6469878b)MOORE Gordon Moore, the legendary Intel Corp.

2020 has been a tough year for many people’s finances as the coronavirus has decimated jobs and put 401(k) plans on shaky ground. It’s been a different story for the world’s billionaires, though. In fact, most of the 50 richest billionaires have gotten even richer. Those who have grown stronger through the storm include those invested in the technology, grocery and industrial sectors.

Having billions to your name, though, means you also have billions to lose, and other sectors that have been traditional cash cows are not faring so well in this environment. Business in real estate has taken a hit as physical retailers struggle and companies rethink office space. The finance and banking industries are also reflections of the communities they serve, facing losses from loan defaults and riskier asset holdings. And unless you’re in the fashion business of loungewear, not as many people as usual are buying clothing.

See who made this list of wealthy people who have lost the most money this year.

Last updated: Nov. 16, 2020

Mandatory Credit: Photo by Reed Saxon/AP/Shutterstock (6317319s)Donald Bren Billionaire developer Donald Bren leaves Los Angeles Superior Court at the lunch break .
Mandatory Credit: Photo by Reed Saxon/AP/Shutterstock (6317319s)Donald Bren Billionaire developer Donald Bren leaves Los Angeles Superior Court at the lunch break .

21. Donald Bren

  • Source of wealth: Real estate

  • Industries: Real estate

  • Net worth in March: $15.5 billion

  • Net worth in November: $15.3 billion

  • Change in net worth ($): $200 million

  • Change in net worth (%): -1.29%

Carlos Slim Helú, President of the Carlos Slim Foundation, addresses during the Geneva Lectures Series, Palais des Nations.
Carlos Slim Helú, President of the Carlos Slim Foundation, addresses during the Geneva Lectures Series, Palais des Nations.

20. Carlos Slim Helu & Family

  • Source of wealth: Telecom

  • Industries: Telecom

  • Net worth in March: $52.1 billion

  • Net worth in November: $51.3 billion

  • Change in net worth ($): -$800 million

  • Change in net worth (%): -1.54%

WUHAN, CHINA - DECEMBER 20:  (CHINA OUT) Wang Jianlin, Chairman of Wanda Group, attends press conference of Golbal Premiere of Han Show and Grand Opening of the Wanda Movie Park on December 20, 2014 in Wuhan, Hubei province of China.
WUHAN, CHINA - DECEMBER 20: (CHINA OUT) Wang Jianlin, Chairman of Wanda Group, attends press conference of Golbal Premiere of Han Show and Grand Opening of the Wanda Movie Park on December 20, 2014 in Wuhan, Hubei province of China.

19. Wang Jianlin

  • Source of wealth: Real estate

  • Industries: Real estate

  • Net worth in March: $14 billion

  • Net worth in November: $13.7 billion

  • Change in net worth ($): -$300 million

  • Change in net worth (%): -2.14%

Modern office buildings in London, UK.
Modern office buildings in London, UK.

18. Sun Hongbin

  • Source of wealth: Real estate

  • Industries: Real estate

  • Net worth in March: $9.2 billion

  • Net worth in November: $9 billion

  • Change in net worth ($): -$200 million

  • Change in net worth (%): -2.17%

Mandatory Credit: Photo by Shutterstock (3046188ae)Ricardo Salinas Pliego2013 Clinton Global Initiative, New York, America - 26 Sep 2013.
Mandatory Credit: Photo by Shutterstock (3046188ae)Ricardo Salinas Pliego2013 Clinton Global Initiative, New York, America - 26 Sep 2013.

17. Ricardo Salinas Pliego & Family

  • Source of wealth: Retail, media

  • Industries: Fashion & retail

  • Net worth in March: $11.7 billion

  • Net worth in November: $11.4 billion

  • Change in net worth ($): -$300 million

  • Change in net worth (%): -2.56%

Read More: The World’s Billionaires Have More Wealth Than Almost 5 Billion People Combined

energy power station
energy power station

16. Michael Kadoorie

  • Source: Hotels, energy

  • Industries: Energy

  • Net worth in March: $7.3 billion

  • Net worth in November: $7.1 billion

  • Change in net worth ($): -$200 million

  • Change in net worth (%): -2.74%

Mandatory Credit: Photo by Ben Margot/AP/Shutterstock (6469878b)MOORE Gordon Moore, the legendary Intel Corp.
Mandatory Credit: Photo by Ben Margot/AP/Shutterstock (6469878b)MOORE Gordon Moore, the legendary Intel Corp.

15. Gordon Moore

  • Source of wealth: Intel

  • Industries: Technology

  • Net worth in March: $9.8 billion

  • Net worth in November: $9.5 billion

  • Change in net worth ($): -$300 million

  • Change in net worth (%): -3.06%

Mandatory Credit: Photo by Anonymous/AP/REX/Shutterstock (7325319a)Dated Jan.
Mandatory Credit: Photo by Anonymous/AP/REX/Shutterstock (7325319a)Dated Jan.

14. Luis Carlos Sarmiento

  • Source of wealth: Banking

  • Industries: Finance & investments

  • Net worth in March: $9 billion

  • Net worth in November: $8.7 billion

  • Change in net worth ($): -$300 million

  • Change in net worth (%): -3.33%

Business success, finance, banking, accounting and making money concept: 3D render illustration of printing 20 US dollar USD money paper cash banknotes on print machine in typography.
Business success, finance, banking, accounting and making money concept: 3D render illustration of printing 20 US dollar USD money paper cash banknotes on print machine in typography.

13. Andrew Beal

  • Source of wealth: Banks, real estate

  • Industries: Finance & investments

  • Net worth in March: $7.9 billion

  • Net worth in November: $7.6 billion

  • Change in net worth ($): -$300 million

  • Change in net worth (%): -3.80%

Mandatory Credit: Photo by Kin Cheung/AP/Shutterstock (10249831d)Henderson Land Development's founder and chairman Lee Shau-kee attends a news conference as he announces his retirement after the company's general meeting in Hong Kong, .
Mandatory Credit: Photo by Kin Cheung/AP/Shutterstock (10249831d)Henderson Land Development's founder and chairman Lee Shau-kee attends a news conference as he announces his retirement after the company's general meeting in Hong Kong, .

12. Lee Shau Kee

  • Source of wealth: Real estate

  • Industries: Real estate

  • Net worth in March: $28.1 billion

  • Net worth in November: $26.7 billion

  • Change in net worth ($): -$1.4 billion

  • Change in net worth (%): -4.98%

See: Watch Out, These Billionaires Could Buy Your City

Mandatory Credit: Photo by Wilfredo Lee/AP/Shutterstock (10762511a)Miami Dolphins owner Stephen Ross watches his team warm up before an NFL football game against the Buffalo Bills, in Miami Gardens, Fla.
Mandatory Credit: Photo by Wilfredo Lee/AP/Shutterstock (10762511a)Miami Dolphins owner Stephen Ross watches his team warm up before an NFL football game against the Buffalo Bills, in Miami Gardens, Fla.

11. Stephen Ross

  • Source of wealth: Real estate

  • Industries: Real estate

  • Net worth in March: $7.6 billion

  • Net worth in November: $7.2 billion

  • Change in net worth ($): -$400 million

  • Change in net worth (%): -5.26%

Ray Dalio speaks at TED2017 - The Future You, April 24-28, 2017, Vancouver, BC, Canada.
Ray Dalio speaks at TED2017 - The Future You, April 24-28, 2017, Vancouver, BC, Canada.

10. Ray Dalio

  • Source of wealth: Hedge funds

  • Industries: Finance & investments

  • Net worth in March: $18 billion

  • Net worth in November: $16.9 billion

  • Change in net worth ($): -$1.1 billion

  • Change in net worth (%): -6.11%

Mandatory Credit: Photo by Shutterstock (1486259ah)Philip Anschutz, owner of AEGLA Galaxy v NY Red Bulls MLS football match, Los Angeles, America - 03 Nov 2011.
Mandatory Credit: Photo by Shutterstock (1486259ah)Philip Anschutz, owner of AEGLA Galaxy v NY Red Bulls MLS football match, Los Angeles, America - 03 Nov 2011.

9. Philip Anschutz

  • Source of wealth: Investments

  • Industries: Finance & investments

  • Net worth in March: $11 billion

  • Net worth in November: $10.1 billion

  • Change in net worth ($): -$900 million

  • Change in net worth (%): -8.18%

Tucson, AZ July 21, 2019: Walmart Store Building Sign.
Tucson, AZ July 21, 2019: Walmart Store Building Sign.

8. Lukas Walton

  • Source of wealth: Walmart

  • Industries: Fashion & retail

  • Net worth in March: $18.4 billion

  • Net worth in November: $16.7 billion

  • Change in net worth ($): -$1.7 billion

  • Change in net worth (%): -9.24%

Display of Stock market quotes with city scene reflect on glass
Display of Stock market quotes with city scene reflect on glass

7. David Shaw

  • Source of wealth: Hedge funds

  • Industries: Finance & investments

  • Net worth in March: $7.3 billion

  • Net worth in November: $6.5 billion

  • Change in net worth ($): -$800 million

  • Change in net worth (%): -10.96%

Take a Look: The 1 IPO That’s Making 18 New Billionaires

Walmart store sign
Walmart store sign

6. Christy Walton

  • Source of wealth: Walmart

  • Industries: Fashion & retail

  • Net worth in March: $8.8 billion

  • Net worth in November: $7.7 billion

  • Change in net worth ($): -$1.1 billion

  • Change in net worth (%): -12.50%

Mandatory Credit: Photo by Steven Senne/AP/Shutterstock (9271451g)Stan Kroenke, Stanley Kroenke.
Mandatory Credit: Photo by Steven Senne/AP/Shutterstock (9271451g)Stan Kroenke, Stanley Kroenke.

5. Stanley Kroenke

  • Source of wealth: Sports, real estate

  • Industries: Sports

  • Net worth in March: $10 billion

  • Net worth in November: $8.3 billion

  • Change in net worth ($): -$1.7 billion

  • Change in net worth (%): -17.00%

Mandatory Credit: Photo by Rob Latour/Shutterstock (9921901ad)Stewart Resnick and Lynda ResnickDoris Kearns Goodwin 'Leadership In Turbulent Times' book party, Los Angeles, USA - 06 Oct 2018Doris Kearns Goodwin book party for 'Leadership In Turbulent Times' held at the home of Bob and Lovee Arum in Beverly Hills, California.
Mandatory Credit: Photo by Rob Latour/Shutterstock (9921901ad)Stewart Resnick and Lynda ResnickDoris Kearns Goodwin 'Leadership In Turbulent Times' book party, Los Angeles, USA - 06 Oct 2018Doris Kearns Goodwin book party for 'Leadership In Turbulent Times' held at the home of Bob and Lovee Arum in Beverly Hills, California.

4. Stewart and Lynda Resnick

  • Source of wealth: Agriculture, water

  • Industries: Food & beverage

  • Net worth in March: $9 billion

  • Net worth in November: $7.1 billion

  • Change in net worth ($): -$1.9 billion

  • Change in net worth (%): -21.11%

Mandatory Credit: Photo by Micha Theiner/Cityam/Shutterstock (940273c)Stefano Pessina, the executive chairman of Alliance BootsVariousStefano Pessina, the executive chairman of Alliance Boots, during an interview at Finsbury PR, London.
Mandatory Credit: Photo by Micha Theiner/Cityam/Shutterstock (940273c)Stefano Pessina, the executive chairman of Alliance BootsVariousStefano Pessina, the executive chairman of Alliance Boots, during an interview at Finsbury PR, London.

3. Stefano Pessina

  • Source of wealth: Drugstores

  • Industries: Fashion & retail

  • Net worth in March: $10.2 billion

  • Net worth in November: $8 billion

  • Change in net worth ($): – $2.2 billion

  • Change in net worth (%): -21.57%

Mobile banking.
Mobile banking.

2. Zhang Fan

  • Source of wealth: Touchscreens

  • Industries: Technology

  • Net worth in March: $7.9 billion

  • Net worth in November: $5.8 billion

  • Change in net worth ($): -$2.1 billion

  • Change in net worth (%): -26.58%

96 Money-Making Skills You Can Learn in Less Than a Year, Notary public in office signing document
96 Money-Making Skills You Can Learn in Less Than a Year, Notary public in office signing document

1. Walter P.J. Droege

  • Source of wealth: Consulting

  • Industries: Service

  • Net worth in March: $13 billion

  • Net worth in November: $2.4 billion

  • Change in net worth ($): -$10.6 billion

  • Change in net worth (%): -81.54%

New York, NY - May 15, 2019: Jeff Bezos arrives at the Statue Of Liberty Museum Opening Celebration at Battery Park.
New York, NY - May 15, 2019: Jeff Bezos arrives at the Statue Of Liberty Museum Opening Celebration at Battery Park.

Those Who Won Big

Want to know more about the billionaires who won big in 2020?

  • Amazon founder Jeff Bezos gained $72.6 billion worth of wealth between March and October this year as his company’s stock has surged during the pandemic. He has also made $127 million worth of donations to pandemic-related causes.

  • Elon Musk’s net worth has grown by a whopping 257.3%.

  • Indian energy billionaire Mukesh Ambani has gained $48.4 billion in net worth, while donating $68.32 million to coronavirus causes.

More From GOBankingRates

Photos are for representational purposes only.

Methodology: For this piece, GOBankingRates looked at Forbes’ “World’s Billionaire List” data from March 18, 2020, and found the net worth of the top 200 richest people. Then, using Forbes Real-Time Billionaire tracker, GOBankingRates found each billionaire’s net worth on Nov. 4, 2020. We then calculated the change in net worth in terms of total dollars and percent change in net worth. All data was collected on and up to date as of Nov. 4, 2020.

This article originally appeared on GOBankingRates.com: 21 Billionaires Who Lost Big in 2020