It's been an expensive week for Facebook's Mark Zuckerberg. Photo / AP
It's been an expensive week for the world's richest people.
Mark Zuckerberg is nursing the biggest fall after losing US$3.2 billion ($4.1b) as large cap stocks disappointed for a fourth straight day.
Losses for the Facebook chief executive officer topped those of Spain's Amancio Ortega and Mexico's Carlos Slim, who
were both down US$2.4b as of 1 p.m. in New York. The fortunes of Alphabet Inc.'s Larry Page and Sergey Brin each dwindled more than US$2b on the Bloomberg Billionaires Index since markets opened on Monday.
The world's 500 richest people have lost a combined US$107b this week, more than the entire market capitalization of Goldman Sachs Group Inc. or Lockheed Martin Corp. The wealth of U.S. billionaires fell the most, declining a combined US$34b. Chinese tycoons saw US$16b erased.
The Dow Jones Industrial Average has slid about 3.5 per cent this week as President Donald Trump invited a trade war and Federal Reserve Chairman Jerome Powell fueled speculation the central bank plans to quicken the pace of monetary tightening.
