First days of the year’s poor stock market performance whips off Amancio Ortega’s fortune

Amancio Ortega, founder of world’s largest apparel retail group, Inditex, has been badly affected by the poor trading of stock exchanges around the world over the first days of 2016.

In fact, the world’s five richest people lost 8.7 billion dollars on Monday in a global stock sell off sparked by weak factory data in China and a flare-up in tensions between Saudi Arabia and Iran, reports Bloomberg.

The most affected by the poor trading was Jeff Bezos, Amazon.com Inc. founder, who took the forefoot at the decliners on the Bloomberg Billionaires Index in the first trading day of 2016.

Bezos lost 3.7 billion dollars as the world’s largest online retailer fell 5.8 percent, seeing his net worth down to 56 billion dollars.

Spain’s Amancio Ortega dropped 2.5 billion dollars to 70.4 billion dollars as his Inditex SA, which includes brands such as Zara, Massimo Dutti, Bershka or Uterque, fell 3.5 percent.

Berkshire Hathaway Inc. Chief Executive Officer Warren Buffett, Mexico’s Carlos Slim and Microsoft Corp. co-founder Bill Gates, the richest person on the planet, lost a combined 2.5 billion dollars, as shown by Bloomberg data analysis.

On the upside, activist investor Carl Icahn saw his net worth climb 210.4 million dollars to 20.1 billion dollars.

As explained by the financial news company, the Bloomberg index is a daily ranking of the world’s 400 richest people, who lost a combined 82.4 billion dollars for the first trading day of the year.