Top fortunes fall by $196.2bn since Brexit vote

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Global markets erased another $69.2bn from the combined net worth of the world’s 400 richest people Monday, bringing the total since the U.K. shocked investors with a vote to leave the European Union to $196.2bn in the last two trading days.

Bloomberg News reports that the billionaires on the index control $3.8tril, a 1.8% decline from the start of the year, according to the Bloomberg Billionaires Index.

The pain on Monday was felt most by Europe’s wealthiest, where 92 billionaires lost $29.4bn, bringing their two-day decline to $81.7bn, data compiled by Bloomberg show. Since year-end, their net worth has slid more than $45.5bn, a 5.1% decline.

The 150 billionaires from the U.S. and Canada lost $26.7bn, or a two-day total of $62.5bn. They’re essentially flat for the year, with a collective gain of $236m. China’s 26 billionaires lost $1bn Monday, bringing their two-day total loss to $5bn. They’re down 7.4% this year, an $18.7bn drop.

To access the complete Bloomberg News article hit the link below:

World’s Top Fortunes Fall $196.2 Billion Since Brexit Bombshell

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