Nicholas Woodman of GoFive and Warren Buffett of Berkshire Hathaway are among the five CEO’s who have had a rather lousy year when it comes to their investments, losing a combined $20 billion on their companies’ shares.
Not a Good Investor Year
Based on the shares they owned for this year, on average each of them lost at least $1 billion and in most cases, significantly more than that. They are not the only ones feeling the effects of a bad year for investments, as shown by the fact that the S&P 500 is pretty much flat.
In many cases, it is only due to the average 2 percent dividend yield that investors managed to keep up with inflation this year. However, despite not making any money, they are still in a better position than those who lost on their shares, and lost big. Some of the significant decreases in value of energy and casino stocks as well as Berkshire Hathaway shares have caused some of the wealthiest CEO’s to lose a huge amount of their riches.
The Losing Five
The biggest loss was recorded by Buffett, as his shares in Berkshire Hathaway declined enough to cost him $7.8 billion. In addition to those shares dropping by 11 percent, his situation was worsened by the fact that his other holdings, such as American Express and Walmart also saw significant dips.
Coming in second is Harold Hamm of Continental Resources, who racked up a $3.9 billion loss, with the Dish Network’s Charles Ergen right behind him with the loss of $3.5 billion. Joining them in the losing five is the casino mogul Sheldon Gary Adelson from the Las Vegas Sands, who lost $2.5 billion. He is not the only casino mogul on the losing end, as the entire field has been hit hard by the unexpected and intense slowdown in Asia’s gaming.
Finally, not only the old-timers were hit. Among the younger and newer billionaires the biggest hit was felt by the GoPro founder Woodman, as his shares saw an astounding 70 percent drop, costing the newly minted CEO $1.8 billion.