America’s richest billionaires are also being affected by rising inflation in the country. According to Bloomberg news agency, they lost $93 billion yesterday, the ninth worst daily loss ever.
At the top of the list of the richest, Jeff Bezos, founder of Amazon, lost US$ 9.8 billion, the most among those recorded by the news agency. Elon Musk’s net worth is down $8.4 billion. The fortunes of Mark Zuckerberg, Larry Page, Sergey Brin and Steve Ballmer were down more than $4 billion, while Warren Buffett and Bill Gates lost $3.4 billion and $2.8 billion, respectively.
Currently, the Federal Reserve (Fed, the US central bank) has promoted a hike in basic interest rates in order to contain the increase in prices in the country. However, the US consumer price index remains well above the target, and should end 2022 at very high levels by North American standards.
Yesterday, the consumer price index rose 0.1% last month after being unchanged in July, the US Labor Department said. Economists polled by the Reuters news agency had predicted the index would fall 0.1%.
According to Bloomberg, the world’s 500 richest people are worth about $1.2 trillion less than they were at the start of the year. Zuckerberg lost $68.3 billion, or about 54% of his fortune, while Binance CEO Changpeng Zhao lost $61 billion, or about 64%.
Loss of America’s Richest Billionaires
- Jeff Bezos – $9.8 billion
- Elon Musk – $8.4 billion
- Mark Zuckerberg – over $4 billion
- Larry Page – over $4 billion
- Sergey Brin – over $4 billion
- Steve Ballmer – over $4 billion
- Warren Buffett – $3.4 billion
- Bill Gates – $2.8 billion