Think you've taken a bath in the markets? Business Sheet compiles this year's five biggest losers:
- Warren Buffet Loss: $13.6 billion. Though he’s bought when others wouldn’t and come to the rescue of many (Goldman and GE, to start), losses dropped the famed investor’s liquid wealth to a paltry $48.1 billion.
- Mukesh Ambani Loss: $28.2 billion. Ambani controls Reliance Industries, the world’s largest polyester producer. Though he overtook Lakshmi Mittal as India’s richest individual this year, his investments still took a hit.
- Sheldon Adelson Loss: $30 billion. The downturn has left many Americans soured on gambling, and this casino mogul may have the largest paper loss in US history, adjusted for inflation. Put another way, Adelson lost $1,000 a second this year.
- Lakshmi Mittal Loss: $30.5 billion. Stocks drops and production cuts at steel titan ArcelorMittal downgraded him from being India’s richest man in 2007.
- Anil Ambani Loss: $32.5 billion. Ambani’s Reliance Communications has thrown his money at Hollywood this year, investing $500 million in DreamWorks alone, but losses have hit him harder than anyone in the world.