The nation’s tech titans lost an aggregate total of greater than $430 billion as shares of their once-hot corporations plummeted this 12 months.
Tesla and Twitter boss Elon Musk’s net value nosedived an eye-watering $132 billion, causing him to lose his title because the world’s richest person.
Musk’s space rival Jeff Bezos lost $84 billion, followed by Meta CEO Mark Zuckerberg, who wealth fell $81 billion.
Their losses were nearly double those of Google founders Sergey Brin ($44.6 billion) and Larry Page ($43.4 billion). Microsoft founder Bill Gates dropped $29 billion while the corporate’s former CEO Steve Ballmer lost $20.2 billion.
Musk has seen his net value drop from a high of $304 billion in January to $139 billion as of Tuesday, in accordance with the Bloomberg Billionaires Index. Most of Musk’s wealth is derived from ownership in Tesla stock, which has been in a freefall together with other blue-chip firms listed on the tech-heavy Nasdaq.
On Jan. 3, Tesla’s stock cost $400 a share. Since then, the stock price has dropped nearly 70%. As of Tuesday afternoon, Tesla was selling at around $113 a share — down greater than 8% from Friday.
Bezos, who relinquished his role as Amazon chief executive last 12 months so he could give attention to his space exploration company Blue Origin, ranked because the fifth richest person on the planet as of Tuesday.
Bezos’ real-time net value was valued by Bloomberg Billionaires Index at $108 billion — a formidable number but a bit greater than half of his all-time high of $214 billion in the summertime of last 12 months.
The 58-year-old Bezos owns around 10% of Amazon stock. The net retail giant has seen its stock price fall from $183 a share last 12 months to around $83 a share as of Tuesday.
Zuckerberg was once a fixture among the many top seven richest people on the planet. As of late, nonetheless, he’s ranked twenty fifth on the list, in accordance with Bloomberg Billionaires Index.
Zuckerberg, whose net value was valued at $44.8 billion as of Tuesday, was value a private all-time high of $140 billion last 12 months.
Meta has seen the worth of its stock dip by greater than 65% from the beginning of this 12 months. As of Tuesday, it was trading at around $117 a share.
The corporate, which is pivoting from its bread-and-butter business model of counting on promoting on its social media platforms Facebook and Instagram, has burned through its money reserves as a part of Zuckerberg’s massive bet on the metaverse.
In late October, Meta announced a drop in revenue for the second consecutive quarter.
The Menlo Park, Calif.-company earned $4.4 billion, or $1.64 per share, within the three-month period that ended Sept. 30. That’s down 52% from, $9.19 billion, or $3.22 per share, in the identical period a 12 months earlier.
Revenue fell 4% to $27.71 billion from $29.01 billion, barely higher than the $27.4 billion that analysts had predicted.
Meta’s tech rivals including Google and Microsoft also saw their stock prices slide considerably.
Page and Brin, who are not any longer with the corporate on a day-to-day basis, still own a special class of voting shares. As of Tuesday, Page was the tenth richest person on the planet with a net value of $83.8 billion, in accordance with Bloomberg Billionaires Index.
Brin was right behind him within the eleventh slot. His net value was valued at $80.2 billion.
Gates is the fourth richest person on the planet. His net value was valued by Bloomberg Billionaires Index at $109 billion as of Tuesday.
The complete-time philanthropist derives most of his wealth from ownership in Microsoft stock. The Windows maker was not proof against the fierce economic headwinds that gripped tech because it saw its stock price dip by some 30% this 12 months.
Ballmer was the eighth-richest person on the planet as of Tuesday. His net value was valued at $85.5 billion, in accordance with Bloomberg Billionaires Index.
The nation’s tech titans lost an aggregate total of greater than $430 billion as shares of their once-hot corporations plummeted this 12 months.
Tesla and Twitter boss Elon Musk’s net value nosedived an eye-watering $132 billion, causing him to lose his title because the world’s richest person.
Musk’s space rival Jeff Bezos lost $84 billion, followed by Meta CEO Mark Zuckerberg, who wealth fell $81 billion.
Their losses were nearly double those of Google founders Sergey Brin ($44.6 billion) and Larry Page ($43.4 billion). Microsoft founder Bill Gates dropped $29 billion while the corporate’s former CEO Steve Ballmer lost $20.2 billion.
Musk has seen his net value drop from a high of $304 billion in January to $139 billion as of Tuesday, in accordance with the Bloomberg Billionaires Index. Most of Musk’s wealth is derived from ownership in Tesla stock, which has been in a freefall together with other blue-chip firms listed on the tech-heavy Nasdaq.
On Jan. 3, Tesla’s stock cost $400 a share. Since then, the stock price has dropped nearly 70%. As of Tuesday afternoon, Tesla was selling at around $113 a share — down greater than 8% from Friday.
Bezos, who relinquished his role as Amazon chief executive last 12 months so he could give attention to his space exploration company Blue Origin, ranked because the fifth richest person on the planet as of Tuesday.
Bezos’ real-time net value was valued by Bloomberg Billionaires Index at $108 billion — a formidable number but a bit greater than half of his all-time high of $214 billion in the summertime of last 12 months.
The 58-year-old Bezos owns around 10% of Amazon stock. The net retail giant has seen its stock price fall from $183 a share last 12 months to around $83 a share as of Tuesday.
Zuckerberg was once a fixture among the many top seven richest people on the planet. As of late, nonetheless, he’s ranked twenty fifth on the list, in accordance with Bloomberg Billionaires Index.
Zuckerberg, whose net value was valued at $44.8 billion as of Tuesday, was value a private all-time high of $140 billion last 12 months.
Meta has seen the worth of its stock dip by greater than 65% from the beginning of this 12 months. As of Tuesday, it was trading at around $117 a share.
The corporate, which is pivoting from its bread-and-butter business model of counting on promoting on its social media platforms Facebook and Instagram, has burned through its money reserves as a part of Zuckerberg’s massive bet on the metaverse.
In late October, Meta announced a drop in revenue for the second consecutive quarter.
The Menlo Park, Calif.-company earned $4.4 billion, or $1.64 per share, within the three-month period that ended Sept. 30. That’s down 52% from, $9.19 billion, or $3.22 per share, in the identical period a 12 months earlier.
Revenue fell 4% to $27.71 billion from $29.01 billion, barely higher than the $27.4 billion that analysts had predicted.
Meta’s tech rivals including Google and Microsoft also saw their stock prices slide considerably.
Page and Brin, who are not any longer with the corporate on a day-to-day basis, still own a special class of voting shares. As of Tuesday, Page was the tenth richest person on the planet with a net value of $83.8 billion, in accordance with Bloomberg Billionaires Index.
Brin was right behind him within the eleventh slot. His net value was valued at $80.2 billion.
Gates is the fourth richest person on the planet. His net value was valued by Bloomberg Billionaires Index at $109 billion as of Tuesday.
The complete-time philanthropist derives most of his wealth from ownership in Microsoft stock. The Windows maker was not proof against the fierce economic headwinds that gripped tech because it saw its stock price dip by some 30% this 12 months.
Ballmer was the eighth-richest person on the planet as of Tuesday. His net value was valued at $85.5 billion, in accordance with Bloomberg Billionaires Index.
