"The Bloomberg Billionaires Index, a daily measure of the wealth of the world’s 500 richest people, has dropped $1.6 trillion since its peak in November. Leading the way are the Americans on the index, who have lost $797 billion since their peak. Perhaps the most humbled by it all is the world’s richest person, Elon Musk. He’s lost $139.1 billion, or 41% of his wealth, since November, when his net worth briefly surpassed $340 billion. Amazon.com Inc. founder Jeff Bezos, the second-richest person, lost $82.7 billion, or 39% of his peak wealth." - Bloomberg, May 21, 2022.
Not that the rest of us are doing too hot either. Over-50 I assumed that I was playing it safe with my nest egg. For example, I purchased more bonds than stock. Currently both categories are taking a beating. Sure everything probably will come back. But we aging might not live long enough to experience that.
Connecting with Editor-in-Chief Jane Genova at janegenova374@gmail.com.
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