How did Japan’s richest man lose $1.4 billion in a day?

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Life

Tadashi Yanai, Japan’s richest man, lost $1.4 billion in a single day. Yanai’s company, Fast Retailing – which owns clothing company Uniqlo – had its shares drop by 6.7 percent. Yanai losses lead to him suffering the biggest wealth decline in the world’s 500 richest people, according to the Bloomberg Billionaires Index.

Yanai’s losses caused him to slip from 38th on the global rich list to 44th – his net worth is currently $17.7 billion.