How to lose $2.1 trillion in a year: 12 bad months for billionaires


Source: afr.com afr.com

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January: warning shots Musk, the world’s richest person at the time, loses $US25.8 billion on Jan. 27 after Tesla Inc. warns about supply challenges. It’s the fourth-steepest one-day fall in the history of the Bloomberg wealth index and foreshadows a rocky year ahead for Musk, both personally and financially. February: oligarch wealth obliterated Russia’s richest people collectively lose $US46.6 billion on February 24, the day Vladimir Putin orders his army to invade Ukraine. In short order, authorities in the European Union, UK and US target Russia’s “oligarchs” and their companies with sanctions that make it next-to-impossible for the business tycoons...