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World's five richest lose US$8.7b in year's trading debut
[NEW YORK] The world's five richest people lost US$8.7 billion on Monday in a global stock selloff sparked by weak factory data in China and a flareup in tensions between Saudi Arabia and Iran.
Amazon.com Inc founder Jeff Bezos led decliners on the Bloomberg Billionaires Index in the first trading day of 2016, losing US$3.7 billion as the world's largest online retailer fell 5.8 per cent. His net worth is now US$56 billion.
Spain's Amancio Ortega dropped US$2.5 billion to US$70.4 billion as his Inditex SA, the biggest fashion retailer, fell 3.5 per cent.
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 US$2.5 billion.