19 People Who Lost $1 Billion Or More In The Stock Market Plunge

19 People Who Lost $1 Billion Or More In The Stock Market Plunge

For the past several years, the world’s wealthiest have seen their net worths grow by leaps and bounds, thanks to tremendous stock market gains.

But yesterday, markets slammed the brakes, as major stock indices took their biggest hit since 2011. A multitude of factors including fear of rising inflation, complacency about volatility, and plain old momentum dying out led to drops of 4.6% in the Dow Jones Industrial Average and 4.1% in the S&P500.

Hardest hit was Warren Buffett, who saw the value of one of his largest holdings, Wells Fargo, plunge as much as 9.2% yesterday as the Federal Reserve announced it would restrict the size of the bank. Since Feb. 1, Buffett has lost a total of $8.4 billion, according to the Bloomberg Billionaires Index.

But it wasn’t just Americans taking it on the chin: billionaires from Europe to China lost big.

In total, the world’s 500 richest lost $114 billion on Monday.

Below are the 19 individuals who lost at least $1 billion according to the Bloomberg Billionaires Index:

19. Phil Knight, Nike, Lost $1 billion

19 People Who Lost $1 Billion Or More In The Stock Market Plunge

18. Pony Ma, Tencent, Lost $1.05 billion

19 People Who Lost $1 Billion Or More In The Stock Market Plunge

17. Carl Cook, Cook Group, Lost $1.1 billion

19 People Who Lost $1 Billion Or More In The Stock Market Plunge

16. Francoise Bettencourt Meyers, L’Oreal, Lost $1.12 billion

19 People Who Lost $1 Billion Or More In The Stock Market Plunge

15. Sheldon Adelson, Las Vegas Sands, $1.21 billion

19 People Who Lost $1 Billion Or More In The Stock Market Plunge

14. Amancio Ortega, Zara, Lost $1.23 billion

19 People Who Lost $1 Billion Or More In The Stock Market Plunge

13. Kjeld Kristiansen, Lego, Lost $1.29 billion

19 People Who Lost $1 Billion Or More In The Stock Market Plunge

12. Steve Ballmer, ex-Microsoft, Lost $1.31 billion

19 People Who Lost $1 Billion Or More In The Stock Market Plunge

11. Alice Walton, Walmart, Lost $1.76 billion

19 People Who Lost $1 Billion Or More In The Stock Market Plunge