Advert

Three Of The World's Richest Men Lose Billions Thanks To Donald Trump

Published 
| Last updated 

Three Of The World's Richest Men Lose Billions Thanks To Donald Trump

For most of us, it's bad enough when we lose a tenner, but imagine losing $4.5bn (£3.46bn).

As Donald Trump continues his war of words with North Korea, and the threat of conflict looms, Jeff Bezos, Bill Gates and Mark Zuckerberg have seen billions wiped off their share prices.

The three saw plummeting indexes as investors sold off equities and headed for perceived safe havens, such as gold.

Amazon owner, Bezos, who recently became the richest man in the world, saw the biggest losses as $2bn (£1.5bn) was wiped.

Advert

Credit: BBC

Facebook's creator, Mark Zuckerberg, was the second biggest loser, with a reduction in his worth of $1.6bn (£1.23bn).

Microsoft founder Bill Gates lost less than one billion but still took a $850m (£653m) hit on his share values.

Advert

Credit: PA

In total, about $30bn (£23bn) was lost from American technology companies, with further losses expected on Friday.

Larry Elliot, of The Guardian, said: "Growing tensions between the US and North Korea boosted the Swiss franc, the Japanese yen, gold and government bonds as investors sought out traditional safe havens at a time of geopolitical uncertainty."

Advert

President Trump has hit the headlines this week, on numerous occasions, for his verbal outburst at North Korea.

The secretive state has made several statements in recent times claiming that its missiles can now hit the American coast - causing Trump to hit back.

These war of words have caused the global stock market to sit up and take note. The European-wide STOXX 600 fell by 0.7 percent on Friday, taking weekly losses to 2.7 percent in total - the highest since November 2016.

Advert

Credit: PA

Trump stated earlier that 'military solutions are now fully in place, locked and loaded', and earlier on Friday emphasised his stance.

He told the press: "We are looking at that [North Korea] very carefully, I hope they are going to fully understand the gravity of what I said, and what I said is what I mean.

"Hopefully they'll understand what I said, and the meaning of those words.

Advert

"We want to talk about a country that has misbehaved for many, many years, decades actually, through numerous administrations.

"They didn't want to take on the issue, I'm taking it on. We'll either be very successful very quickly, or we'll be very successful in a different way."

President Trump had previously vowed to fight North Korea with 'fire and fury' after North Korea tested its 17th missile of the year earlier in the month.

Featured Image Credit: PA

Topics: America, jeff bezos, Donald Trump, bill gates, North Korea, Mark Zuckerberg

Michael Minay
Advert
Advert
Advert

Chosen for YouChosen for You

Entertainment

Only Fools And Horses Star John Challis Has Died Aged 79

13 hours ago

Most Read StoriesMost Read

News

Pictures Show Abandoned McDonald's Unchanged Since The Early 1990s

2 days ago