The world's 5 richest tech tycoons — including Elon Musk, Jeff Bezos, and Bill Gates — have already lost about $85 billion this year amid a brutal market sell-off
marketstumbled last week on fears about rising interest rates and inflation.
- The tech-heavy Nasdaq index fell 8% last week and is down 13% this year.
- The world's five richest tech tycoons have collectively lost about $85 billion in 2022.
The world's five richest tech tycoons have collectively lost about $85 billion of their
The losses sent the fortune of the world's richest person,
The world's second-richest person, Amazon's founder,
The Microsoft cofounder
All five saw losses in their tech stock holdings. Last week, the benchmark tech-heavy Nasdaq Composite fell about 8% on the back of several concerns including rising interest rates and inflation. The Nasdaq is down about 13% this year.
According to Bloomberg, the only one of the world's five wealthiest people who didn't lose money last week was Bernard Arnault, the chairman and CEO of the French luxury giant LVMH. Even so, Arnault's wealth is down $10.5 billion this year, with LVMH share prices down 5% amid a broader market rout.
Here's how the world's six wealthiest people were faring on the Bloomberg
|Rank||Name||Total net worth||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|
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