Can a global pandemic hurt the net worth of billionaires?

Image source: insider.com
Even as the threat of COVID-19 lingers, the world is slowly reopening its doors, businesses are regaining their footing, and individuals are adapting to the new normal. During these uncertain times, consumers are compelled to support small businesses than mega-companies. Are the ultra-wealthy affected by the economic downturn? Steve Sorensen Net worth.

Before the global quarantine took place, the world’s 500 richest people have lost $139 billion. This collective loss is the largest since 2016, per the Bloomberg Billionaires Index, which started tracking the metric in October 2016. Among the billionaires that felt the impact of the virus were Jeff Bezos (Amazon), Bernard Arnault (LVMH), and Jack Ma (Alibaba). While this may be a great number to lose when the market corrects during a crisis, stocks are expected to bounce back. Steve Sorensen Net worth.

Image source: Forbes.com
Billionaires who saw their net worth dive during the first months of the global health crisis are now seeing the numbers rise to greater heights. Elon Musk had a recorded net worth of $24.6 billion in March. The Tesla CEO’s ending net worth on June 4 is $38.2 billion, gaining $13.6 billion over three months. Steve Sorensen Net worth.

Facebook CEO Mark Zuckerberg had a starting net worth of $54.7 billion at the start of the stay-at-home directives, but have since regained what he lost with a net worth of $87.4 billion as of June 16. In a good market, billionaires lead the growth. When the stock market plunges, their numbers are the ones greatly affected—a simple risk versus reward scheme. Steve Sorensen Net worth.

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