400 rich people lost $124 bln in one day

Last week’s declines had already seen the world’s 400 richest people lose $182 billion.

Four hundered of the richest people in the world lost about $124 billion on Monday after global sliding markets resulted in Chinese shares sinking the most since 2007, according to Bloomberg Billionaires Index.

The wealth of 24 billionaires declined by more than 10 figures in just one day, including Bill Gates', whose fortune dropped by $3.2 billion, Jeff Bezos, Amazon’s president lost about $2.6 billion.

Mexican Carlos Slim also lost about $1.6 billion, and his wealth fell to its lowest level since 2012.

The global selloff pushed the Standard & Poor’s 500 Index into its first correction in nearly four years.

Last week’s declines has already seen the world’s 400 richest people lose $182 billion. A decline of $76 billion on Friday had put their fortunes into the red for the year-to-date.