MUMBAI: Billionaires have been quick to recoup their losses in the aftermath of the Covid-19 crisis. Of the four billionaires who make it to the worlds top 100 billionaires, Mukesh Ambani saw a V-shaped recovery in his wealth losing 19% of his wealth in the initial weeks and regaining 18% in dollar terms. Vaccine King Cyrus Poonawalla, was one of the fastest gainers in the world with his net worth rising 25% to $15 billion making it to the top 100. Gautam Adani family and Shiv Nadar of HCL, the remaining two in the top 100, saw their wealth decline by 18% and 6% respectively.

Hurun, which composes the world’s rich list every year, has published a special report on wealth impact 4 months after the Covid-19 outbreak. According to the report the world’s top 100 billionaires clawed back almost all their initial losses in second two months of the Covid-19 outbreak, after losing the equivalent of Rs 30.8 lakh crore loss in first two months. As a result, their wealth was down only 2% in four months.

“Having finished the “world’s fastest billion-dollar fundraise” in the technology sector, Mukesh Ambani gained all the wealth he lost before the Janta Curfew. India could be playing a very impactful role in fighting coronavirus through Dr Cyrus Poonawalla run Serum Institute of India. Since last 4 months, Dr. Poonawalla has gained almost 25% to register a wealth of INR 1,13,300 crore. Foreign investors’ belief in India’s telecom potential and leadership in biotech were displayed during the 4 months post-Covid-19”, said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.

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The biggest winners during the Covid-19 period were Jeff Bezos of Amazon who saw his wealth shoot up $20bn to $160bn in 4 months since the Covid-19 outbreak. Another e-tailer Huang Zheng, 40, of Chinese e-commerce giant Pinduoduo, was the second biggest winner, up $17bn, doubling wealth to $35bn. Bezos added $7 million an hour every hour for the past four months.

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The main reason for the drop in wealth was that stock markets across the world crashed in the first two months after the outbreak but recovered some of the losses in the second two months. India, the UK and France were down around 20%, with the NYSE, Japan, HK and Germany down around 10%. Mainland China’s stock exchanges were down slightly at 4%, whilst the only major stock market to see a gain was NASDAQ, up 4%.

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The biggest losers in the last four months were Bernard Arnault of luxury brand LVMH and investor Warren Buffett, each down equivalent of Rs 1,35,900 crore, followed by Carlos Slim Helu, who was down Rs 1,28,400 crore and Amancio Ortega of Inditex (-Rs 1,05,700 crore). As a category, investors made the biggest losses. Sheldon Adelson of Las Vegas Sands saw his wealth drop Rs 52,900 crore, on the back of poor performance of his casinos since the outbreak.

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