May 23, 2022

The Queens County Citizen

Complete Canadian News World

Musk, Bezos, Gates and Zuckerberg lost tens of millions this week

Musk, Bezos, Gates and Zuckerberg lost tens of millions this week
  • The 10 wealthiest tech billionaires lost a total of $ 44 billion in net worth amid tech sales that ended an 11-day rally.
  • Jeff Bezos saw the biggest personal decline at $ 9 billion according to the Bloomberg Billionaires Index, and the wealthy woman, his ex-wife Mackenzie Scott, is also on the list.
  • For affected billionaires, including Bezos, Scott, Elon Musk and Bill Gates, the decline in wealth represents only a fraction of their collective net worth.
  • Visit the Business Insider homepage for more stories.

The ensemble wealth of 10 wealthy tech billionaires has dropped just $ 44 billion. According to the Bloomberg Billionaires Index, Amazon CEO and founder Jeff Bezos’ personal wealth plummeted to $ 9 billion.

Elon Musk and Mark Zuckerberg also fell $ 8.5 billion and $ 4.2 billion, respectively. Bill Gates has a net worth of $ 2.9 billion.

Musk, Zuckerberg and Gates are centibillionaires (i.e. their net worth is at least $ 100 billion), and these losses are fractions of their total net worth. For example, Bezos’ net worth fell 4.5%.

As consumers around the world turned to online retailers and services during the coronavirus epidemic, tech companies fell in their net worth after a strong start in 2020. The market continued to rally, but concerns that companies were overvalued led to big tech sales this week The Dow fell 740 points on Thursday, Puts an end to 11 days of hot streak.

Even after these losses, the 10 richest billionaires still have a net worth of $ 830 billion.

Mackenzie Scott also suffered losses, with her net worth dropping to $ 3.2 billion. She changed Rich woman Following her divorce from Bezos in 2019.

READ  Port of Montreal | Longshormen will go on a partial strike on Wednesday

Wealth drops as the epidemic sheds light on wealth inequality in America One in five Americans facing deportation In September and Food banks are seeing increasing demand.