He could lose 99.999% of his wealth, and still be among the richest 1% in the world.

To be in the richest 1% worldwide you need to be a millionaire. He's worth $242 billion. If he only lost 99% of his wealth, he'd still be a billionaire, and still be 1000x richer than people who were merely in the top 1% worldwide. To be in the top 1% in the US you'd have to shave a 9 off that. He could lose 99.99% of his wealth and still be in the top 1% in the US.