$35 Billion Hit: Zuckerberg, Gates Among Those to Suffer Massive Losses Amid Trump-Russia Claims

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Author: RT.com

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Billionaires and millionaires the world over have become poorer to the tune of $ 35 billion, following the media scandal surrounding allegations of highly classified data being leaked by US President Donald Trump to Russia.

Stock markets suffered a meltdown on Wednesday after the alleged revelations, resulting in huge losses for almost every one of world’s 500 richest people, according to Bloomberg.

Facebook co-founder and CEO Mark Zuckerberg took the biggest hit, estimated at more than $ 2 billion. Shares in the social media giant fell 3.3 percent, but Zuckerberg still holds fifth position on the global rich list with around $ 62.3 billion, according to the Bloomberg index.

The richest person on the planet, Bill Gates, lost around $ 1 billion amid the carnage, as Microsoft’s shares suffered the most significant drop in almost a year – 2.8 percent. Still, Gates’ net worth is $ 86.8 billion, according to Bloomberg.

Gates was fourth on the list in terms of the amount of reduced capital. Jeff Bezos, the co-founder of Amazon.com, the world’s largest online retailer, is second after Zuckerberg based on the size of losses incurred amid the political uproar.

Before the stock market dive, Bezos was second behind Gates in terms of overall wealth. The turmoil saw Amazon shares recede 2.2 percent, however, and he now stands third with a $ 81.9 billion – a loss of more than $ 1.7 billion.

Bezos was overtaken on the list by Amancio Ortega, a Spanish business tycoon and chairman of Inditex, the world’s largest clothing company, best known for its Zara chain. Ortega lost $ 355 million, five times less than Zuckerberg’s loss, and is now the second wealthiest person on the planet with $ 83.2 billion.

Wednesday’s market drop followed US media reports on alleged state secret leaks during the meeting between US President Trump and Russian Foreign Minister Sergey Lavrov last week.

The revelations were dismissed by Russia, with President Vladimir Putin calling them “political schizophrenia.” Earlier, the Russian Foreign Ministry also dismissed the media claims, saying that reading US newspapers can “not only be harmful, but dangerous.”

The eight richest people on Earth are estimated to possess wealth equal to that of the 3.6 billion people who make up the poorest half of humanity.

According to the latest Bloomberg estimates, the top 500 billionaires and millionaires are valued at around $ 4.9 trillion. A 2016 report by Boston Consulting Group said only 1 percent of the world’s population owns almost half of its wealth, and that the wealth of the rich is only growing.

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