Better get out your hankie. The world’s richest people lost a combined $17.1 billion
this week as concern over JPMorgan Chase & Co. (JPM)’s $2 billion trading
loss and the weakening euro pushed the Standard & Poor’s (SPY) 500 Index to
a two-month low.
Carlos Slim, the world’s richest man, lost the most. The
Mexican mogul’s fortune fell by $4.2 billion during the week as shares of his
Mexico City-based America Movil SAB (AMXL) dropped 3.82 percent, its biggest weekly
loss since December 2011. The company,
the biggest wireless carrier in the Americas, said May 8 it would spend as much
as $3.4 billion to buy additional shares of Dutch phone operator Royal KPN NV
(KPN) in an effort to further the mogul’s European ambitions.
The 72-year-old has a net worth of $69.6 billion, according
to the Bloomberg Billionaires Index, a daily ranking of the world’s 40 richest
people. The combined net worth of the ranking: $1 trillion…
More? Check out http://www.bloomberg.com/news/2012-05-11/world-s-richest-lose-17-billion-as-slim-s-fortune-drops.html
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