All Financial Wisdom

Here’s How Much Billionaires Lost because of Trump last week.

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The 10 richest men in the world lost $7.7 billion in just two days because of the market crash following the political scandal between Donald Trump and Russia.

Donald Trump’s political scandal between the FBI and Russia, for which an independent investigator was named, lost hundreds of millions of dollars for the world’s richest men in just two days, especially Mexican businessman Carlos Slim, whose wealth was reduced by $2.5 billion in that period.

On May 16, press reports revealed that Donald Trump had pressured then-director of the FBI, James Comey, to desist from an investigation against his former security adviser Michael Flynn and his ties with Russia.

“I hope you can let this go,” Trump told Comey, according to notes from the former official who went to the US press.

This political scandal, which even worried the Republican wing, raised more doubts about the proximity of the campaign team of Trump with officials of the Russian government. Democrats even pointed out that the president of the United States can be charged with obstruction of justice by interfering with an ongoing federal investigation.

The next day, markets reacted with sharp declines in their top indices, an investor response to doubts that Trump could overcome such political turmoil and carry out its reform agenda, such as the fiscal, which aims to make heavy cuts to Corporate taxes.

The Department of Justice named Robert Mueller, a former FBI director, as the special manager to investigate Trump and his team.

The Dow Jones and S & P 500 indices of the New York Stock Exchange saw losses between May 16 and 18, which impacted on the fortunes of the richest men in the world.

In all, the 10 richest men in the world had losses of $7.7 billion, but Carlos Slim was the one who, by far, registered more losses, according to Bloomberg’s real-time billionaire index.

The shares of América Móvil, the largest company in the Slim Helú empire, are listed on both the New York Stock Exchange and the Mexican Stock Exchange.

Below are the millionaires who had more losses and their current fortunes, according to Bloomberg data on Thursday, May 18.

Net worth (in millions)

1. Carlos Slim

Current fortune $57.2 billion (mdd)

Losses: 2,500 mdd

2. Bill Gates

Current Fortune: $ 86,900

Losses: $900 million

3. Amancio Ortega

Current Fortune: $ 82,700 mm

Losses: $900

4. Larry Ellison

Current Fortune: $ 47,700 mm

Losses: 800 mm

5. Warren Buffett

Current Fortune: $ 72,900 mm

Losses: 700 mmm

Mark Zuckerberg

Current Fortune: $ 63,600

Losses: 700

7. Jeff Bezos

Current Fortune: USD 83.100

Losses: $ 500 million

8. Larry Page

Fortuna actusl: $ 47,700

Losses: $ 500 million

9. Charles Koch

Current Fortune: 46,700

Losses: $ 500 million

10. Bernard Arnault

Current Fortune: $ 51,100

Losses: $ 400 million

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