Elon Musk and Jeff Bezos: Tech Billionaires Lose Billions as Stock Market Crashes
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Tumbling tech stocks have caused the wealth of some of the world’s top billionaires to suffer a decline
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Tesla CEO, Elon Musk lost $25 billion, while Amazon founder Jeff Bezos saw $20 billion cut from his fortune
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Collectively, the world’s five richest people lost have $85 billion in 2022 alone
The world’s five richest tech billionaires have collectively lost $85.07 billion of their wealth in the first few weeks of 2022, following last week’s hit to the stock market.
The world’s richest person Elon Musk suffered the most severe wealth loss as his fortune dropped to $243, more than $27 billion in 2022, according to Bloomberg Billionaires Index.
The recent loss means that the Tesla CEO is nearly $100 billion below his all-time high wealth valuation of $335 billion in November 2021.
Amazon’s Jeff Bezos has seen a $25 billion drop in his fortune this year, as his net worth plummeted to $168 billion.
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It has been a terrible week in the stock market since the crash at the onset of the COVID pandemic.
Many big-name companies have suffered, with Netflix enduring its steepest drop in decades.
According to Bloomberg, the only billionaire in the top five that did not lose money last week was Bernard Arnault, the CEO of French luxury giant LVMH. The billionaire’s wealth is however down $10.5 billion in 2022.
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