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Market Tumble Wipes Out Almost $100 Billion From World’s Richest

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Swooning markets Thursday cost the world’s 500 richest people $93 billion in net worth, and 20 of them lost at least $1 billion each.

Jeff Bezos
, the world’s richest person, saw his fortune drop by $5.3 billion to $113.2 billion, according to the

Bloomberg Billionaires Index
, as his Amazon.com Inc. tumbled 4.7 percent on the day. Berkshire Hathaway Inc. Chairman

Warren Buffett
’s wealth dropped $3.5 billion and Facebook Inc.’s

Mark Zuckerberg
lost $3.4 billion.

Battered Billionaires

These five billionaires lost a combined $16.3 billion on Thursday

Source: Bloomberg Billionaires Index

Elon Musk
came back to Earth, dropping $1.1 billion in net worth after his Space Exploration Technologies Corp. successfully

a Tesla Inc. sports car on a journey around the sun. Shares of Tesla, which he also leads, plunged 8.6 percent.

The Dow Jones Industrial Average and S&P 500 Index both tumbled to their lowest levels since November as fears of rising interest rates and inflation intensified.

Read more: Stocks enter correction as rate-hike fears return

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