Five tech tycoons lose $85 billion in a week

The world’s 5 biggest tech tycoons have already lost $85.07 billion in net worth in the first few weeks of 2022 as their fortunes took a massive hit in the stock market last week.

According to the Bloomberg Billionaires Index, brutal losses in the stock market have reduced the fortunes of the world’s richest man, Elon Musk, founder and owner of electric car maker Tesla, to $243 billion – nearly $27 billion less since the beginning of the year. It is $100 billion less than last November, when Musk’s net worth peaked at $335 billion.

As for Jeff Bezos, the founder of the e-commerce company “Amazon”, and the second richest man in the world, he has lost about $ 25 billion of his fortune since the beginning of the year.

Microsoft founder Bill Gates has seen a drop of $9.5 billion in his net worth since January 1, while Larry Page’s net worth has fallen by $12 billion.

For his part, Mark Zuckerberg, founder of Facebook, lost about $ 12 billion of his net worth this year.

These losses come after the sharp decline in the Nasdaq index of technology companies last week, against the background of multiple factors, including high interest rates and inflation.

The index collapsed more than 15 percent from the last record set in mid-November, marking its worst month since October 2008. In light of the financial crisis.

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