Nov 18, 2022
By: Rounak JainTesla, Amazon and Facebook-parent Meta are out of the trillion-dollar club, losing a combined market cap of $2.05 trillion in 2022 so far.
Credit: Canva
Nasdaq Composite, the tech-heavy index, has lost 29.6 percent of its value in 2022 so far.
Credit: Canva
The iPhone-maker has performed relatively better when compared to other tech companies, losing just 17.2 percent of its value this year. Its current market cap stands at $2.4 trillion.
Credit: Canva
Saudi Aramco has been the most resilient trillion-dollar company – unsurprising given the rise in crude oil prices this year. Its current market cap stands at $1.97 trillion, with an increase of 4.3 percent in 2022 so far.
Credit: Canva
The Windows-maker once had a market cap of over $2 trillion, but a 27.8 percent decline in stock price this year has brought it down to $1.8 trillion. It was briefly the most valuable company in the world in October 2021.
Credit: Canva
Google-parent Alphabet’s stock has also taken a beating this year, down by 32.2 percent till date. Its market cap stands at $1.27 trillion.
Credit: Canva
Tesla and Facebook-parent Meta have lost over half of their market cap this year. While Tesla declined over 54 percent, Meta’s losses were worse at a decline of 67 percent.
Credit: Tesla/Meta
Of the seven companies, only Saudi Aramco managed to make gains in 2022 so far, adding 4.3 percent to its value.
Credit: Saudi-Aramco
Billionaires Elon Musk, Mark Zuckerberg and Jeff Bezos are amongst the top losers of net worth in 2022, losing a combined $246.9 billion. Elon Musk topped the list with a decline of $89.7 billion, but he is still the world’s richest person with a net worth of $181 billion.
Credit: Canva