Elon Musk’s Wealth Drops by $15 Billion as Stocks Crashed

Elon Musk’s Wealth Dropped by $15 Billion as Stocks Crashed

  • Tesla CEO Elon Musk lost more than $15.2 billion in net valuation on Friday, amid fears of inflation economic tightening
  • The billionaire’s wealth drop was a result of Tesla shares falling by 6.42% to $1,014
  • The world’s richest man is now valued at $268.9 billion, despite the loss, his wealth is up by 72% in 2021

Tech billionaires lost tens of billions in collective wealth as technology stocks crashed amid fears of inflation and the effect of the Omicron Covid variant.

Elon Musk

The world’s richest man Elon Musk lost $15.2 billion as Tesla shares fell by more than 6% on Friday.

According to Bloomberg Billionaire Index, the Tesla CEO is now worth $268.9 billion. However, his wealth is still up by 72% for the year.

Amazon founder Jeff Bezos also lost $2.7 billion as shares from Amazon Inc dropped by 1.4% in New York.

Mark Zuckerberg’s net worth also declined by $1.3 billion to $114.7 billion as Meta stock continued its bear run.

Read also: 5 Billionaires and the Cryptocurrencies They Own

The metaverse and social media company shares have fallen more than 20% from their recent high.

Virtual land

Collectively, $27.4 billion was wiped from the wealth of the top 10 technology billionaires in the United States.

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