The wealthiest 500 people on the planet have lost nearly $117 billion which amounts to 2.1 percent of their collective net worth in a single day as the US stocks plunged to record its biggest dip this year.

According to the Bloomberg Billionaires Index, 21 richest people lost over $1 billion as the US stocks dropped on account of tensions between United States and China.

The worst hit was the founder of Amazon Inc, Jeff Bezos which shed almost $3.4 billion in a single day. Despite the latest development, Jeff Bezos is still the richest person on earth with $110 billion.

The next biggest loser was French Tycoon Bernard Arnault who lost $ 3.2 billion followed by Facebook CEO Mark Zukerberg who lost $2.8 billion.

The fourth biggest loser was however Indian billionaire Mukesh Ambani who lost $2.4 billion.

These 500 richest people are believed to be controlling at least $5.4 Trillion.

US-China trade war and the situation in Hong Kong might have had ramifications on the single day melt-down of stock markets.


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