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Elon Musk’s wealth rises, as four top billionaires suffer N2.85 trillion loss in one day



Four of the top five richest people, Bernard Arnault, Jeff Bezos, Bill Gates and Warren Buffett, lost N2.85 trillion ($6.8 billion) combined in one day, while Elon Musk escaped the drop, being the only billionaire out of the rank not to suffer a loss.

The biggest loser was Buffett, as the billionaire suffered $2 billion loss, causing his networth to drop by -1.05%, as his total fortune dwindled to $111.6 billion, after the share of his company, Berkshire Hathaway, dipped -1.56% from $312.16 to $308.75

Buffett maintained his position on the ranking, as he avoided dropping out of the top five, holding on to the fifth spot, according to data obtained from Forbes Billionaire Index on Wednesday.

Read also: Sacks loom, as Elon Musk clashes with Tesla executives

Bezos came next after losing $1.8 billion from his networth, which is now estimated at $146.9 billion. His wealth declined by -1.22% thanks to a decline in the price of Amazon’s share, which fell to $121.03 from $122.61 But despiite the loss, he retained the third spot.

It was gathered that Arnault’s company, Louis Vuitton suffered a -1.10% dip in the capital market, depreciating from €608.40 to $601.70 and this caused him $1.7 billion on Wednesday, dragging his wealth down by -1.09% to $155.8 billion.

Arnault still held tight as the second richest person in the world after the loss, while Gates, who lost $1.3 billion, saw his networth slump to the -0.23% dip in Microsoft’s share, which dropped to $270.30 from $271.71 As a result, his networth dwindled to $127.5 billion.

Meanwhile, Musk gained $2.1 billion the same day Arnault, Bezos, Gates and Buffett lost $6.8 billion. The wealth of the Tesla Chief Executive Officer rose 0.97% to $222.1 billion, after the share price of the automaker appreciated by 1.25%, to close at $725 against the previous day’s $720.26 per share.

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