Mark Zuckerberg Named Forbes Biggest Billionaire Losers of 2018
It was a turbulent year for many investors around the world, as stock markets were shaken by events from Brexit to U.S.-China trade tensions. Amid the uncertainty, many billionaire fortunes shrunk in size, The Forbes reports.
The biggest loser in the world was Facebook CEO Mark Zuckerberg, who had a terrible year amid internal scandals and damaging publicity. He was the only American among the ten biggest billionaire losers, half of whom were from Asia.
Still, there were plenty of billionaires whose fortunes bucked the downward trend - Forbes calculated the biggest gainers and winners in absolute dollar terms.'
Bill Gates and Steve Ballmer were up a combined $6.3 billion, thanks to a higher Microsoft stock price. Several Russians grew richer as profits rose at their oil and gas firms.
But the year’s biggest gainer by a vast margin was Amazon founder and CEO Jeff Bezos, whose fortune calimbed nearly $28 billion to $126.2 billion between December 29, 2017 and December 17, 2018, the dates Forbes used to measure fortunes for the article.
Bezos was worth even more in early September, when his fortune peaked at $167 billion. Altogether the ten biggest gainers in the world added a total of $64 billion to their fortunes in the past 12 months. That was much less of an increase than in 2017, when the combined fortunes of the top ten winners jumped by $204 billion.
- The US and China are on the Brink of a new Cold War that Could Devastate the Global Economy "We're essentially in the beginnings of a Cold War," Orville Schell, the director of the Center on US-China Relations at the Asia Society, told Insider. "We are on a downward slide into something increasingly...
- China Announces New Tariff Waivers for Some U.S. Imports The ministry did not disclose the imports value of the products. Beijing in February said it would grant exemptions for 696 U.S. goods including key products such as soybeans and pork based on applications...
- Brent Crude Oil Prices Reach $ 29.78 Per Barrel The price of July futures for North Sea Brent crude oil rose 0.47% up to $ 29.78 per barrel, while June futures for WTI crude oil rose 1.08% up to $ 24.4 per barrel.
- UK and US Kick off Trade Deal Negotiations The restart of talks comes as the UK must negotiate a trade agreement with the EU, following Brexit, and in the midst of a pandemic that threatens to upend the global economy.
- Brent Crude Price Bounces Over $28 Per Barrel The WTI futures, meanwhile, is trading around $27.87 per barrel (+2.46%).
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