Billionaires lost $40 billion this week

Yahoo Finance Video

Fri, May 20, 2022, 10:12 AM

Yahoo Finance Live anchor Julie Hyman looks at a Bloomberg report on how much wealth the world's billionaires, including Elon Musk and Jeff Bezos, lost this week in the market sell-off.

Video Transcript

JULIE HYMAN: Our stat the day today. Cue the violins, if you will. Bleeding billionaires, the world's biggest billionaires lost over $40 billion in the market sell off this week. Elon Musk lost the most. He shed $12.3 billion of his net worth, just behind him Jeff Bezos who lost about $8 billion this week. This is all according to Bloomberg's billionaire index.

But, of course, they'll be OK. This is all just on paper anyway, and stocks are going back up today. So there you go.

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Billionaires lost $40 billion this week

Video Transcript

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