The coronavirus has already cost the ultra-wealthy more than $100 billion. Here's why they're likely to feel more pain from the market drops than the average American.
, Capgemini found that individuals with net worths between $1 million and $5 million lost less than those with net worths over $30 million and billionaires during that market rout.
"It's the risk versus reward scenario," Capgemini's Deputy Head of the Global Financial Services Market Intelligence Strategic Analysis Group Chirag Thakral told in July. "Where in a good market [billionaires] are the ones leading the growth, in a bad market, they're the ones who are affected the most."Robert F. Smith on becoming the richest black man in America, what companies get wrong about diversity, and what he's doing to help mint more black billionaires
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