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These billionaires would’ve been left penniless if they suffered Zuckerberg’s $16.8 billion wipeout

It’s an evaporation of wealth so big it would have left quite a few multi-billionaires without a cent to their name

business Updated: Jul 26, 2018 12:18 IST
Divya Balji
Divya Balji
Facebook,Facebook wipeout,Facebook Q2 result
Cardboard cutouts depicting Facebook CEO Mark Zuckerberg are pictured during a demonstration ahead of a meeting between Zuckerberg and leaders of the European Parliament in Brussels, Belgium.(Reuters File photo)

For many of the world’s richest people, losing $16.8 billion in a day would be a wipeout.

For Mark Zuckerberg, it’s just about a fifth of his net worth.

His fortune tumbled in late trading Wednesday, as shares of the social media giant slid 20 percent in post-market trading in New York on disappointing results. If that holds through Thursday’s close, he will slide to sixth place from third on the Bloomberg Billionaires Index. It would also wipe his $13.7 billion of gains for the year, leaving him with just less than $70 billion.

It’s an evaporation of wealth so big it would have left the following multi-billionaires without a cent to their name:

Charlene De Carvalho-Heineken -- she is the biggest shareholder of the world’s second-largest brewer Heineken NV and has a net worth of about $16.7 billion

Iris Fontbona & family -- Fontbona is the matriarch of Chile’s richest family, which controls Antofagasta Plc (among the world’s largest copper producers)

Leonard Lauder -- chairman emeritus of Estee Lauder Cos Inc., one of the largest makers of cosmetics and fragrances globally

Zhang Zhidong -- co-founder of Tencent Holdings Ltd. and has a net worth of $16.2 billion

Elaine Marshall -- a director at Koch Industries Inc., the second largest closely held business in the US

William Ding, chief executive officer of NetEase Inc. with a fortune of $16 billion

In fact, it would have wiped out 87 percent of the billionaires in Bloomberg’s index.

— With assistance by Matt Turner

First Published: Jul 26, 2018 11:59 IST