Michael Bloomberg’s Net Worth takes Multibillion Dollar Hit

Former New York City Mayor and 2020 Democratic presidential candidate Michael Bloomberg’s bank account appears to have taken a decent size hit, as the market cratered after coronavirus outbreak fears.

Bloomberg’s net worth as of February 18 was around $64 billion, according to Forbes. As of Friday, February 28, his Forbes-estimated net worth had fallen to $56.2 billion.

The Bloomberg media company has an estimated valuation of $50 billion and generates an estimated $10 billion in annual revenue.