The billionaire club just got more exclusive.
As U.S. stocks have taken a hammering this year, a score of American executives have lost the coveted three comma title, the New York Post reports, citing Forbes and Bloomberg data. In fact, 145 people worldwide--8% of the world’s billionaires--have been ejected from the 10-figure net worth echelon over the past eight months, the Post says.
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This wealth drubbing is partly due to financial markets having had their worst ever start to a year. Pessimism continues to linger about the global economy as stocks have slumped 13% from their highs last year, the Post notes.
Businessmen who have dropped in the ranks include: Jamie Dimon, CEO of JPMorgan jpm , Lloyd Blankfein, CEO of Goldman Sach gs , Nick Woodman, CEO of GoPro gpro , and Michael Pearson, CEO of Valeant vrx .
Many of these execs’ fortunes are tied up in company shares.
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The list of ex-billionaires also includes Ryan Kavanaugh, CEO of Relativity Media, Clifford Illig, vice chairman and co-founder of Cerner Corporation cern , investor Charles Brandes, Keurig-founder gmcr Robert Stiller, and biotech bigshot Alan Auerbach, according to the Post.
Jack Dorsey, CEO of Twitter twtr and Square sq , temporarily dipped below the watermark before regaining the 10-figure title this week.
