Summing up the first half of 2022, the list of the world's 500 richest people experienced a $ 1.4 trillion wealth depreciation, the worst 6 -month fall in the high -profile millionaire class.
The decline can be inferred from the stimulus measures introduced by the government and central banks in adapting to the post-Covid-19 pandemic situation.
It indirectly makes sentiment turn murky on the prospects of tech companies all the way to cryptocurrencies.
In addition, the increase in interest rates by the central bank in the fight against inflation also caused a number of stocks, owned by some millionaires, to suffer a significant decline thus affecting their wealth.
Citing an example, Tesla Inc. experienced its worst quarter in the 3 months to June while Amazon.com Inc. shares plunged the most since the dot com bubble.
The string, the world’s richest man Elon Musk, has lost $ 62 billion in wealth while Jeff Bezos slipped $ 62 billion in the first half of this year.
However, the decline did not affect the position of millionaires in the Bloomberg Billionaires Index where:
Musk remains at the top of the list with a fortune of $ 208.5 billion.
Jeff Bezos is in 2nd place with a fortune of $ 129.6 billion.
Bernard Arnault in 3rd place with a fortune of $ 128.7 billion.
Bill Gates is in 4th place with a fortune of $ 115 billion.
Comment Thorne Perkin of Papamarkou Wellner Asset Management, although the S&P 500 index suffered its worst decline since 1970, the value of accumulated wealth by the high -profile millionaire class is not only able to withstand the fall but they may be looking for bargain opportunities.
Clearly, the thinking of millionaires is quite the opposite where they look for opportunities when there is a problem.
