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Stock markets tumbled final week on fears about rising rates of interest and inflation.
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The tech-heavy Nasdaq index fell 8% week-on-week, and is 13% decrease year-to-date.
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The world’s 5 richest tech tycoons have collectively lost about $85 billion in year-to-date in 2022.
The world’s 5 richest tech tycoons collectively lost $85.07 billion of their wealth within the first few weeks of 2022 as their fortunes took a massive hit from final week’s (*5*).
The losses despatched the fortune of the world’s richest particular person, Elon Musk, right down to $243 billion — some $27 billion decrease than initially of the year, in accordance with the Bloomberg Billionaires Index. It’s additionally almost $100 billion decrease than November 2021, when Musk’s net worth peaked at $335 billion.
The world’s second-richest particular person, Amazon founder Jeff Bezos, has lost about $25 billion in 2022.
Microsoft co-founder Bill Gates noticed a $9.5 billion drop in his internet value since January 1, whereas Google co-founder Larry Page’s internet value decreased by $12 billion. Rounding out the losses is Facebook’s Mark Zuckerberg, whose internet value additionally dropped by about $12 billion thus far this year.
All 5 noticed losses of their tech inventory holdings. Last week, the benchmark tech-heavy Nasdaq Composite fell about 8% on the again of a number of components including rising rates of interest and inflation. The Nasdaq is down about 13% year-to-date.
According to Bloomberg, the one billionaire within the prime 5 who didn’t lose any cash final week was Bernard Arnault, the chairman and CEO of French luxurious large LVMH. Even so, Arnault’s wealth is down $10.5 billion thus far this year, with LVMH share costs down 5% year-to-date on the again of a broader market rout.
Here’s how the world’s six wealthiest individuals are faring on the Bloomberg Billionaires Index as of January 24:
|
Rank |
Name |
Total internet value |
Year-to-date change |
|
1 |
Elon Musk |
$243 billion |
-$26.9 billion |
|
2 |
Jeff Bezos |
$168 billion |
-$24.7 billion |
|
3 |
Bernard Arnault |
$167 billion |
-$10.5 billion |
|
4 |
Bill Gates |
$129 billion |
-$9.47 billion |
|
5 |
Larry Page |
$117 billion |
-$11.9 billion |
|
6 |
Mark Zuckerberg |
$113 billion |
-$12.1 billion |
Read the unique article on Business Insider
