The world’s 500 richest people lost $451 billion this year. That’s a sharp reversal from 2017 when they added $1 trillion to their fortunes.Singaporean billionaires fared the best in dollar terms, gaining $2.5 billion. That pushed the wealth of the country’s richest to a collective net worth of $38 billion.Jeff Bezos, Amazon.com Inc. founder and the richest man in the world, was 2018’s biggest gainer for the second year running. His net worth grew about $24 billion to $123 billion.But even he was a loser in the second half of the year as stock markets were routed. His net worth fell nearly $20 billion, leaving the 34-year-old with a $53 billion fortune.China’s Wang Jianlin, Jack Ma and Ma Huateng made up three of the 10 biggest losers this year.

Source: The Star December 31, 2018 05:15 UTC