World's richest men lose billions after remarks voiced in US

The richest billionaires in the world lost more than $30 billion after the speech of the head of the US Federal Reserve System (FRS) Jerome Powell.

Powell spoke on Aug. 27 for eight minutes and predicted that interest rates would continue to rise in the future to counter rising inflation. Following his statement, the US stock market went down.

According to Forbes magazine's report, which cites, Forbes Real-Time rating data, the richest entrepreneur on the planet, Tesla Company's owner, Elon Musk, lost $5.4 billion. Currently, his fortune stands at $257.3 billion. The President and CEO of the Louis Vuitton Moët Hennessy (LVMH) group of companies, the Frenchman Bernard Arnault lost $4.5 billion to have his capital fell to $161.7 billion.

About $ 6.5 billion decreased in the bank accounts of the founder of the world's largest e-commerce platform company Amazon Jeff Bezos lost, which subsequently hit $155.3 billion.

The only member of the 10 richest billionaires whose fortunes have grown rather than declined is Indian entrepreneur Gautam Adani, owner of the Adani Group conglomerate. His capital increased by $1.6 billion and is now estimated at $140.1 billion.