Biography & Early Wealth Journey

TOBIAS SCHWARZ/AFP via Getty Images

Fellow French billionaire Francois Pinault, honorary chairman of luxury goods company Kering, which owns Gucci and Saint Laurent, has seen $5.9 billion of his net worth evaporate under the current market conditions. Leonardo del Vecchio, the founder of eyewear company Luxottica, has lost $4.6 billion. Luxottica is headquartered in Milan, which is under lockdown due to the spread of the coronavirus in Italy.

By now, COVID-19 has spread to every continent except Antarctica.

Primary Income Streams & Multi-Million Contracts

Spain's Amancio Ortega, the founder of fast-fashion giant Zara, took a $12.8 billion hit to his fortune. L'Oréal's Francoise Bettencourt Meyers has lost $8.9 billion. Jeff Bezos has lost $6.4 billion, even though Amazon stands to benefit from the slowdown in the economy as it is still delivering goods to customers.

Elon Musk, who tweeted on March 6 that "coronavirus panic is dumb," has seen his net worth decline by $5.5 billion, an 18% drop, after Tesla shares declined 22%. Reportedly, Musk emailed SpaceX employees to tell them that they are more likely to die in a car accident than from COVID-19. If the stock market continues its downward trajectory, Musk stands to lose his $346 million payday, which is tied to Tesla's valuation/stock performance. Musk may think the panic is dumb (and possibly has that payday in mind) but so far at least, Tesla investors don't agree with him.

Below are the 10 biggest billionaire losers to date.

Source of wealth: Luxottica

Trending Wealth Dossiers:

Real Estate, Luxury Assets & Personal Investments

Net worth change: -$4.9 billion

Source of wealth: Apple

Net worth change: -$4.9 billion

Elon Musk

Wealth Trajectory & Future Earnings Projections

Source of wealth: Tesla

Net worth change: -$5.5 billion

François Pinault

Source of wealth: Kering

Net worth change: -$5.9 billion

Source of wealth: Reliance Industries

Net worth change: -$6.1 billion

Jeff Bezos

Source of wealth: Amazon

Net worth change: -$6.4 billion

Source of wealth: America Movil

Net worth change: -$7 billion

Françoise Bettencourt Meyers

Source of wealth: L'Oréal

Net worth change: -$8.9 billion

Amancio Ortega

Source of wealth: Inditex

Net worth change: -$12.8 billion

Bernard Arnault

Source of wealth: LVMH

Net worth change from March 6 to March 13: -$14 billion