World's Richest Man Loses $8 Billion in Four Days

[marmar]

(Bloomberg) Carlos Slim, the world’s richest man, lost about $8 billion this week.

The Mexican billionaire’s stock portfolio, measured in U.S. dollars, has dropped about 11 percent since July 29, before today, and is valued at about $63 billion, according to data compiled by Bloomberg. That compares with a 7.1 percent slide in the Standard & Poor’s 500 Index.

Slim, 71, has taken a hit as Mexico’s benchmark IPC index dropped 7.4 percent and the peso slid 2.5 percent against the dollar on concerns that the flagging U.S. economy will hurt demand for assets in its southern neighbor. The removal of three of Slim’s companies from the IPC index has made matters worse for the billionaire.

“He’s been particularly hurt by those companies leaving the IPC,” said Leon Cabrera, a trader at Mexico City-based Vanguardia Casa de Bolsa. “It reflects the nervousness out there. It’s part of being in the market.” ...........(more)

The complete piece is at: http://www.bloomberg.com/news/2011-08-05/slim-loses-8-billion-in-four-days-as-mexican-holdings-suffer.html

[The Velveteen Ocelot]

1. Sucks to be him.

:nopity:

[no_hypocrisy]

2. That's why you diversify your portfolio . . . .

[Tuesday Afternoon]

3. that is just a scratch on the side of his nose. n/t

[MilesColtrane]

4. Did he check under the cushions of his couch?

That's usually were I find some spare change.

[meegbear]

5. There's always pole dancing in Tiajuana

[SammyWinstonJack]

6. Less than pocket change for the greedy a$$hole.

:nopity:

[RUMMYisFROSTED]

7. $71B to $63B is not being hurt.

His life will suffer in no appreciable way.

:nopity:


Now, a commensurate 7% cut for someone making under an $100K I can see.

[cbdo2007]

8. I'm sure he'll make it all back when the markets recover and then some.

[Bandit]

9. Isn't there some way Republicans can send him some of our tax money?

:shrug:

[marmar]

10. They probably already have.

nt

[hobbit709]

11. Let me pause for a minute so that I can feel his pain. NOT!!!

[Skink]

12. Get this man a tax cut.

[OHdem10]

13. 11% of Billions. actually not so bad, if you had to lose. He still

holds 89% of what he had.

What about Americans who only have 401Ks. How are
they doing????

[dtexdem]

14. A slimmer Carlos.

Oh, the poor baby! ;-)

[indepat]

15. Poor widde Slimy

:patriot:

[nomb]

16. When you own everything - and everything goes down. Well, I'll let you do the math.

:)

[RadiationTherapy]

17. $63,000 million minus $8,000 million = NO BIG DEAL.

[WinkyDink]

18. "And Doesn't Realize It For Five Days."

[deaniac21]

19. If he didn't sell, he hasn't lost a cent.

[TheManInTheMac]

20. That don't confront me...

long as I get my rent money by next Friday.

[madamesilverspurs]

21. When people in that bracket take a hit

it's all on paper. When you and I take a hit, it's in cash.


-

[Ilsa]

22. I doubt this will change his spending habits. nt

[lonestarlib]

23. My heart bleeds. This man bought the company I worked for in

Texas & ran it into the ground.

[Chimichurri]

24. That's a drop in his guilded bucket

[Marrah_G]

25. I would like to take the richest 1000 people in the world and....

Drop them in Niger with empty pockets and no way out for a year. Maybe one or two of them would learn a thing or two about humanity.

I chose Niger for this reason:

92.7% Living In Poverty
65.9% Living On At Least $1.25 A Day
89.5% Deprived Of Sanitation

[awoke_in_2003]

26. In the immortal words of Travis Tritt...

here's a quarter, call someone who cares.

[Rex]

27. The disparity between rich and poor amazes me.

Like the moon looking down at an ant.