The US stock market has fallen since the beginning of this year. He did not touch ordinary people. But the billionaires lost a lot. Looking at their faces, you will definitely notice signs of dandruff and sadness. When we talk about the category of such people, we should mention the founders of big technology companies. Recently, Bloomberg reported that the richest man in the world Elon Musk, Amazon founder Jeff Bezos, and Microsoft co-founder Bill Gates lost a total of $ 115 billion in net worth.
According to Bloomberg Billionaires Index, Musk’s fortune has shrunk by $ 46.4 billion. Bezos has shrunk by $ 53.2 billion. Gates by $ 15.1 billion. Taking stock of Friday, Musk had a net worth of $ 224 billion, Bezos $ 139 billion and Gates $ 123 billion.
However, these conditions also mean changes in the ranking. Bernard Arnault, president of the French luxury goods group LVMH, is currently the third richest man in the world. His fortune has shrunk by $ 44.7 billion to $ 133 billion since January.
It should also be noted that these individuals have different stakes in their businesses. For example, much of Musk and Bezos’ fortune is tied to shares in Tesla and Amazon, respectively. But Gates’s stake in Microsoft is now relatively small. In terms of numbers, Musk’s 15.6% stake in Tesla, valued at about $ 122 billion, has fallen by almost 37% so far this year.
Rich Men – Elon Musk, Jeff Bezos and Bill Gates
In April, Musk bought a 9.2% stake in Twitter. Once that happened, many investors questioned whether he could focus on managing Tesla. This caused Tesla shares to fall. Musk sold $ 8.4 billion worth of Tesla stock to fund its acquisition.
Gates’s most diversified portfolio helped him survive the sell-off in the stock market. The Bill and Melinda Gates Foundation, the charity Gates and his ex-wife co-founded, is investing heavily in Warren Buffett’s Berkshire Hathaway, whose shares have risen 5% this year.
But Gates has invested in other positions and companies. For example, it has its own investment company Cascade Investments. The latter invests in technology companies such as Apple. So, one way or another, Bill Gates also lost a lot. This is mainly related to inflationary pressures and the decline in consumer confidence.
Further reading: Jeff Bezos became the richest man with a record fortune of 211 billion dollars
Bezos now owns about 50 million Amazon shares, valued at about $ 115 billion. The stock has lost nearly a third of its value this year, but still has a market value of nearly $ 1.2 trillion. Tesla shares are now worth about $ 786 billion after falling nearly 37%.