21 Billionaires Who Lost Big in 2020

2020 has been a tough year for many people’s finances as the coronavirus has decimated jobs and put 401(k) plans on shaky ground. It’s been a different story for the world’s billionaires, though. In fact, most of the 50 richest billionaires have gotten even richer. Those who have grown stronger through the storm include those invested in the technology, grocery and industrial sectors.

Having billions to your name, though, means you also have billions to lose, and other sectors that have been traditional cash cows are not faring so well in this environment. Business in real estate has taken a hit as physical retailers struggle and companies rethink office space. The finance and banking industries are also reflections of the communities they serve, facing losses from loan defaults and riskier asset holdings. And unless you’re in the fashion business of loungewear, not as many people as usual are buying clothing.

See who made this list of wealthy people who have lost the most money this year.

• Source of wealth: Real estate
• Industries: Real estate
• Net worth in March: $15.5 billion
• Net worth in November: $15.3 billion
• Change in net worth ($): $200 million
• Change in net worth (%): -1.29%

• Source of wealth: Telecom
• Industries: Telecom
• Net worth in March: $52.1 billion
• Net worth in November: $51.3 billion
• Change in net worth ($): -$800 million
• Change in net worth (%): -1.54%

• Source of wealth: Real estate
• Industries: Real estate 
• Net worth in March: $14 billion
• Net worth in November: $13.7 billion
• Change in net worth ($): -$300 million
• Change in net worth (%): -2.14%

• Source of wealth: Real estate
• Industries: Real estate
• Net worth in March: $9.2 billion
• Net worth in November: $9 billion
• Change in net worth ($): -$200 million
• Change in net worth (%): -2.17%

• Source of wealth: Retail, media
• Industries: Fashion & retail
• Net worth in March: $11.7 billion
• Net worth in November: $11.4 billion
• Change in net worth ($): -$300 million
• Change in net worth (%): -2.56%

Read More: The World’s Billionaires Have More Wealth Than Almost 5 Billion People Combined 

• Source: Hotels, energy
• Industries: Energy
• Net worth in March: $7.3 billion
• Net worth in November: $7.1 billion
• Change in net worth ($): -$200 million
• Change in net worth (%): -2.74%

• Source of wealth: Intel
• Industries: Technology
• Net worth in March: $9.8 billion
• Net worth in November: $9.5 billion
• Change in net worth ($): -$300 million
• Change in net worth (%): -3.06%

• Source of wealth: Banking
• Industries: Finance & investments
• Net worth in March: $9 billion
• Net worth in November: $8.7 billion
• Change in net worth ($): -$300 million
• Change in net worth (%): -3.33%

• Source of wealth: Banks, real estate
• Industries: Finance & investments
• Net worth in March: $7.9 billion
• Net worth in November: $7.6 billion
• Change in net worth ($): -$300 million
• Change in net worth (%): -3.80%

• Source of wealth: Real estate
• Industries: Real estate
• Net worth in March: $28.1 billion
• Net worth in November: $26.7 billion
• Change in net worth ($): -$1.4 billion
• Change in net worth (%): -4.98%

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• Source of wealth: Real estate
• Industries: Real estate
• Net worth in March: $7.6 billion
• Net worth in November: $7.2 billion
• Change in net worth ($): -$400 million
• Change in net worth (%): -5.26%

• Source of wealth: Hedge funds
• Industries: Finance & investments 
• Net worth in March: $18 billion
• Net worth in November: $16.9 billion
• Change in net worth ($): -$1.1 billion
• Change in net worth (%): -6.11%

• Source of wealth: Investments
• Industries: Finance & investments
• Net worth in March: $11 billion
• Net worth in November: $10.1 billion
• Change in net worth ($): -$900 million
• Change in net worth (%): -8.18%

• Source of wealth: Walmart
• Industries: Fashion & retail
• Net worth in March: $18.4 billion
• Net worth in November: $16.7 billion
• Change in net worth ($): -$1.7 billion
• Change in net worth (%): -9.24%

• Source of wealth: Hedge funds
• Industries: Finance & investments
• Net worth in March: $7.3 billion
• Net worth in November: $6.5 billion
• Change in net worth ($): -$800 million
• Change in net worth (%): -10.96%

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• Source of wealth: Walmart
• Industries: Fashion & retail 
• Net worth in March: $8.8 billion
• Net worth in November: $7.7 billion
• Change in net worth ($): -$1.1 billion
• Change in net worth (%): -12.50%

• Source of wealth: Sports, real estate
• Industries: Sports
• Net worth in March: $10 billion
• Net worth in November: $8.3 billion
• Change in net worth ($): -$1.7 billion
• Change in net worth (%): -17.00%

• Source of wealth: Agriculture, water
• Industries: Food & beverage
• Net worth in March: $9 billion
• Net worth in November: $7.1 billion
• Change in net worth ($): -$1.9 billion
• Change in net worth (%): -21.11%

• Source of wealth: Drugstores
• Industries: Fashion & retail
• Net worth in March: $10.2 billion
• Net worth in November: $8 billion
• Change in net worth ($): – $2.2 billion
• Change in net worth (%): -21.57%

• Source of wealth: Touchscreens
• Industries: Technology
• Net worth in March: $7.9 billion
• Net worth in November: $5.8 billion
• Change in net worth ($): -$2.1 billion
• Change in net worth (%): -26.58%

• Source of wealth: Consulting
• Industries: Service
• Net worth in March: $13 billion
• Net worth in November: $2.4 billion
• Change in net worth ($): -$10.6 billion
• Change in net worth (%): -81.54%

Want to know more about the billionaires who won big in 2020? 

• Amazon founder Jeff Bezos gained $72.6 billion worth of wealth between March and October this year as his company’s stock has surged during the pandemic. He has also made $127 million worth of donations to pandemic-related causes.
• Elon Musk’s net worth has grown by a whopping 257.3%. 
• Indian energy billionaire Mukesh Ambani has gained $48.4 billion in net worth, while donating $68.32 million to coronavirus causes. 

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Photos are for representational purposes only.

Methodology: For this piece, GOBankingRates looked at Forbes’ “World’s Billionaire List” data from March 18, 2020, and found the net worth of the top 200 richest people. Then, using Forbes Real-Time Billionaire tracker, GOBankingRates found each billionaire’s net worth on Nov. 4, 2020. We then calculated the change in net worth in terms of total dollars and percent change in net worth. All data was collected on and up to date as of Nov. 4, 2020.