Category: Markets

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Unstable markets punish world’s rich

The world’s 500 richest people saw their wealth slashed by a collective $511 billion in the past 12 months as the then-record gains accumulated in the first half of 2018 were rapidly extinguished in the latter half of the year, Bloomberg reports. Tension around international trade and growing concern about a possible a U.S. recession has seen markets plummet in recent weeks. It was only the second time the daily wealth index of the moneyed elite that make up the Bloomberg Billionaires Index has declined since 2012.

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Categories: Markets