While 92% of the index entrants lost money on Monday, there were a few winners.
China’s Qin Yinglin added $536 million to his net worth as shares of his Muyuan Foodstuff Co. rose 4.3%. Li Xiting, chairman of Chinese medical equipment maker Shenzhen Mindray Bio-Medical Electronics, gained $143 million, bringing his net worth to $13.7 billion.
Two billionaires took to Twitter to urge calm amid the panic. Bridgewater Associates founder Ray Dalio advised to “look for the opportunities” and former Goldman Sachs CEO Lloyd Blankfein stressed the fundamental strength of the U.S. economy.
“Fear” may drive further losses in markets, Blankfein said, “but expect quick recovery when health threat recedes.”
--With assistance from Jack Witzig and Tom Maloney.
This article was provided by Bloomberg News.