Lloyd C. Blankfein, chairman and chief executive officer of Goldman Sachs Group Inc., lost about $52 million of his personal wealth this month, according to Bloomberg.
Blankfein's 2.1 million Goldman Sachs shares were worth $232 million at Wednesday's closing price of $110.34, down 18 percent since July 29 from $284 million.
Blankfein isn't the only one who is hurting. In total, the heads of Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Morgan Stanley and Goldman Sachs saw the value of their combined shareholdings fall by $94 million on paper since July 29 which includes a $40 million plunge on Wednesday.
Wall Street's top bosses have been having a bad few weeks with volatile stock markets. Serious falls came on Monday and Wednesday. Heads of the top five banks saw the plunge occur from July 29 to August 10.
Following Blankfein is JPMorgan's (JPM) Jamie Dimon. Dimon holds 5.08 million JPM shares. His stock dropped 15 percent from $205 million to $175 million.
Bank of America (BoFA) CEO, Brian T. Moynihan, said that his entire net worth was in the company.
"We believe in the stock," he said.
Moynihan owns 485,904 BofA shares. The value of his shares dropped from $4.7million on July 29 to $3.3million on Wednesday as the company's stock price fell to $6.77.
Morgan Stanley's James P. Gorman, who bought 100,000 shares on Aug. 4 at an average price of $20.62 a share, saw his stock drop to $16.45 on Wednesday. Gorman has lost $5.4 million since the end of July.
Citi chief Vikram Pandit's holdings dropped from $17.7 million to $13.1 million, a 26 percent drop. Compared to Blankfein, the other four chiefs' losses seem to pale. Blankfein's $52 million is greater than the combined losses of all four other men.
Investors are mainly concerned that the U.S. economy is weakening and firms may face losses linked to European sovereign debts.
The Wall Street CEOs owned a combined $439 million in common stock on Wednesday, down from $531 million on July 29, reported Bloomberg.