Bill Gates And Mark Zuckerberg Lose Billions To Brexit


World’s richest man, Bill Gates, and Facebook’s Mark Zuckerberg have reportedly lost $3.4 billion to the British exit from the European Union.

Both men were the worst-hit billionaires in the United States, losing $1.8 billion and $1.6 billion respectively, according to a Bloomberg Billionaires ranking.

Impliedly, the amount lost by Gates is more than the entire wealth of Nigeria’s richest woman, Folorunsho Alakija, who – according to Forbes – is worth $1.73 billion.

After the UK’s decision with their Brexit votes, global markets erased another $69.2 billion from the combined net worth of the world’s 400 richest people on the first trading day of the week, bringing total loss to $196.2 billion in 48 hours.

The pain on Monday was felt most by Europe’s wealthiest, as 92 billionaires lost $29.4 billion, bringing their two-day decline to $81.7 billion.

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These 150 billionaires from the US and Canada lost $26.7 billion on Monday, and recorded a two-day total of $62.5 billion.

China’s 26 billionaires lost $1 billion Monday, bringing their two-day total loss to $5 billion, with a 7.4 percent ($18.7 billion) decline in 2016.

Georg Schaeffler, Germany’s third-richest person, fared the worst on the index Monday with $1.9 billion trimmed from his net worth.

Europe’s richest person, Amancio Ortega, who is a Spanish retailer, lost $1.5 billion. However, while others lost, there were 69 billionaires on the index who added to their fortunes after the Brexit vote.

Takemitsu Takizaki, founder of Osaka-based Keyence, a maker of electronic sensors, led the gainers with an increase of $579.3 million.

Tadashi Yanai, Japanese retailer and chairman of Tokyo-based Fast Retailing Co., was behind him with a $552 million rise. Nineteen billionaires on the index added more than $100 million Monday.

Read Also: How BREXIT Would Affect Nigeria & Nigerians Living In UK

Meanwhile, analysis from economic experts on the effect of Brexit on Nigeria and Nigerians living in the UK predict that it would be mutually beneficial for the two countries, and have some negative impacts as well.