How much did the top ten richest people in the world lose in the stock market crash? The losses of just the CEO of LVMH are equivalent to the total net worth of the top three cryptocurrency billionaires.

As the situation of the global spread of the Wuhan coronavirus worsens, the U.S. stock market experienced a historic day last week, resulting in significant losses for global billionaires. Among them, the amount lost by the CEO of LVMH, Louis Vuitton Moët Hennessy, exceeded the total wealth of the top three on the cryptocurrency market billionaires list.

Global Billionaires Suffer Massive Losses

On March 9th, the U.S. stock market experienced a dismal day, with major indices like the S&P 500 and Dow Jones plummeting over 7%, described by major media outlets as the worst day for the U.S. stock market since 2008. The cryptocurrency market was not spared either, with Bitcoin (BTC) dropping nearly 10% in a single day.

According to Forbes, Bernard Arnault, ranked third on the global billionaire list and CEO of LVMH, suffered the largest loss of the day, amounting to $6 billion. Meanwhile, Amazon founder Jeff Bezos, the world's richest man with a net worth of around $114 billion, saw his wealth decline by $5.6 billion, approximately 4.9%, on the day of the market crash.

Simultaneously, legendary investor Warren Buffett's wealth also shrank by $5.4 billion on that day. Buffett referred to the COVID-19 outbreak as a "terrible thing" in an interview on CNBC two weeks prior, stating that the epidemic posed a major threat to American companies and the economy. Since then, his investment firm, Berkshire Hathaway, saw its stock hit a one-year low, making him the third biggest loser of the day.

Facebook founder Mark Zuckerberg, ranked sixth on the billionaire list, also suffered a loss exceeding $4 billion.

1. Jeff Bezos (Amazon) - Loss of $5.6 billion

2. Bill Gates (Microsoft) - Loss of $3.8 billion

3. Bernard Arnault (LVMH) - Loss of $6 billion

4. Warren Buffett (Berkshire Hathaway) - Loss of $5.4 billion

5. Amancio Ortega (Zara) - Loss of $2.8 billion

6. Mark Zuckerberg (Facebook) - Loss of $4.2 billion

7. Larry Ellison (Oracle) - $1.8 billion

8. Carlos Slim Helu (Grupo Carso) - Loss of $4.8 billion

9. Michael Bloomberg (Bloomberg) - Unchanged

10. Larry Page (Google) - Loss of $3.3 billion

Cryptocurrency Billionaires List Remains Relatively Small

In addition to traditional markets, there is also a billionaires list in the cryptocurrency market. In the latest "Hurun Global Rich List" released last week, successful individuals in the cryptocurrency and blockchain fields were ranked. It is evident that compared to billionaires in other industries, the cryptocurrency market remains relatively small.

1. Changpeng Zhao, Founder of Binance ($2.6 billion)
2. Jihan Wu, Co-founder of Bitmain ($1.6 billion)
3. Star Xu, Founder of OKCoin ($1.4 billion)
4. Chris Larsen, Co-founder of Ripple ($1.3 billion)
5. Leon Li, Founder of Huobi ($1 billion)
6. Brian Armstrong, Co-founder of Coinbase ($1 billion)

Among the cryptocurrency billionaires list, 4 out of 6 are related to exchanges, with 2 of them issuing their own platform tokens. On the day of the market crash, these platform tokens also experienced significant declines, with BNB evaporating $110 million in market value on March 9th, while HT lost $46 million.

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• Four Possible Reasons for Bitcoin's Plunge from $9,200 to $7,600
• Buffett's Unique Perspectives on Apple, Bitcoin, and COVID-19 in Interview

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