Bezos, Musk lose ₹1.50 lakh crore in 24 hours. How did Ambani, Adani do?

Amazon founder Jeff Bezos lost $9.8 billion (around ₹80,000 crore) in a day, while the world’s richest man Elon Musk witnessed his wealth plunge by $8.35 billion (nearly ₹70,000 crore). The world’s wealthiest have witnessed massive loss of wealth as per the Bloomberg Billionaires Index. However, Reliance Industries chairman Mukesh Ambani and Gautam Adani are the only two billionaires in the top 10 list to have not lost wealth in a day. Ambani, who is set to launch its standalone 5G services by Diwali, gained $1.23 billion ( ₹9,775 crore). On the other hand Adani, who is currently the world’s third richest man, gained $1.58 billion ( ₹12,556 crore) as per the index. Other billionaires in the top 10 list including Warren Buffett, Bill Gates, Larry Page, Bernard Arnault and Sergey Brin witnessed losses of wealth in a single day. A Bloomberg report in July had stated that Bezos lost $63 billion while Musk’s fortune dipped by almost $62 billion in the first half of 2022. The world’s 500 richest people lost $1.4 trillion in the first half of the current year.The US consumer price index increased by 0.1 per cent from July, after no change in the previous month. From a year earlier, prices climbed 8.3%, a slight deceleration but still more than the median estimate of 8.1%. So-called core CPI, which strips out the more volatile food and energy components, also topped forecasts, Bloomberg reported. Equity indexes in Japan, Hong Kong and Australia slumped after US shares had their biggest drop in more than two years, with the S&P 500 falling more than 4% and the Nasdaq 100 sliding more than 5%. European equity futures fell while US contracts edged higher.(With Bloomberg inputs)

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