The decline in luxury goods has steadily increased as the outbreak of the corona virus continues.
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Michael Zahariev, Co-Owner Of Luxity It’s sad days for the world's richest people. One of the people for who this has been a devastating week was the richest person in the world, Jeff Bezos. The mega-billionaire lost $8 billion from his personal fortune recently.
The reason for this dramatic loss is simple - the stock market crashed after Saudi Arabia cut oil prices and the continued fear around the coronavirus has profoundly affected the global economy.
According to Forbes, the Dow Jones suffered its worst decline since 1987 and this caused Bezos to lose more than 7% of his net worth as Amazon shares fell by nearly 8%.
MORE LOSERS
Moët Hennessy – Louis Vuitton SE (LVMH) chairman and CEO, Bernard Arnault lost $7.7 billion this week. It should be noted that shares in LVMH nose-dived by 9% this week. The decline in luxury goods has steadily increased as the outbreak of the coronavirus continues.
The reason for this dramatic loss is simple - the stock market crashed after Saudi Arabia cut oil prices and the continued fear around the coronavirus has profoundly affected the global economy.
According to Forbes, the Dow Jones suffered its worst decline since 1987 and this caused Bezos to lose more than 7% of his net worth as Amazon shares fell by nearly 8%.
MORE LOSERS
Moët Hennessy – Louis Vuitton SE (LVMH) chairman and CEO, Bernard Arnault lost $7.7 billion this week. It should be noted that shares in LVMH nose-dived by 9% this week. The decline in luxury goods has steadily increased as the outbreak of the coronavirus continues.
