Berlusconi Loses His Shirt

Variety reports that Italian premier Silvio Berlusconi has lost a quarter of his wealth in recent weeks—over $2 billion. Italy’s stock market has been the hardest hit among the big finance centers in Europe and over half of Berlusconi’s losses come from his holdings in his own company, Mediaset. The outlook for Mediaset isn’t exactly rosy, but Berlusconi can take comfort in remaining the world’s richest leader.