This comes after the full rollout of Amazon Pharmacy, other ventures around telehealth and significant investments in the space. Earlier this year, Amazon rolled out a low-cost subscription service for generic medications to Prime members. Amazon officially closed its $3.9 billion acquisition of One Medical earlier this week. also is quickly becoming a healthcare powerhouse. In a recent interview, Dalio noted that biotech is one of the current investment areas he finds interesting. Collectively, they make up 7.57% of the entire hedge fund’s portfolio. (NYSE: PG) and Johnson & Johnson (NYSE: JNJ). Two of its largest holdings are in Procter & Gamble Co. Ray Dalio, founder of Bridgewater Associates, the largest hedge fund in the world, is making similar bets. To stay updated with top startup investments, sign up for Benzinga’s Startup Investing & Equity Crowdfunding Newsletter But a number of other notable billionaires also are making similar headway into the healthcare industry. In a vacuum, this may or may not be significant. Horizon is a biotechnology company developing cures for rare and rheumatic diseases. Soros recently purchased $325 million worth of Horizon Therapeutics PLC (NASDAQ: HZNP), which now makes up 5.54% of his portfolio, despite previously owning none of it. The Soros Fund Management Holdings 13F was recently released, and a new company tops the list as its biggest holding. Hedge fund manager George Soros is a polarizing figure, but you’d be foolish not to take notice of some of his investing trends. They might see trends months in advance that others might not notice until it’s too late. The pieces often don’t come together immediately, but these investors have millions of dollars in resources dedicated to getting the most up-to-date information as quickly as possible. "Those who don't need to, on the other hand, are feeling a bit of a pinch.When billionaires jump on the same trend, it’s important for investors to take notice. "Those of us who work for a living are broadly fine," Felix writes.Not to mention Russian oligarchs, who saw their fortunes frozen, and crypto investors watched their wealth drop, too.Zuckerberg, Zhao, Musk and Bezos lost $50 billion each by May alone.The big picture: It's a bad year to be really rich, Axios' Felix Salmon writes. Musk still has the biggest fortune on the planet, at $208.5 billion, while Bezos is second with a $129.6 billion net worth, per Bloomberg. Yes, but: Many of these billionaires are still supremely wealthy. Changpeng Zhao, a crypto pioneer, watched his $96 billion fortune tumble by close to $80 billion this year due to the turmoil over crypto, per Bloomberg.Elon Musk's fortune plunged by almost $62 billion. Mark Zuckerberg's net worth was cut in half, down to $60 billion.Why it matters: The losses come as the S&P 500 Index suffered its worst first half of the year since 1970, per Barron's.īy the numbers: The decline is a sharp contrast from the previous two years, when the fortunes of the world's richest people swelled amid government stimulus measures in the wake of the COVID-19 pandemic, per Bloomberg. The world's 500 richest billionaires lost $1.4 trillion in the first half of 2022, the steepest six-month drop ever for the ultra rich, Bloomberg reports.
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