March 20, 2023

Dubai Week

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Five tech bosses lose $ 85 billion a week

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The world’s 5 largest technology executives have already lost $ 85.07 billion in net worth in the first few weeks of 2022 because their fortunes hit the stock market last week.

According to the Bloomberg Billionaires Index, the worst losses in the stock market have reduced the wealth of Elon Musk, the world’s richest man, to $ 243 billion, the wealth of the founder and owner of electric car maker Tesla – about $ 27 billion. This is $ 100 billion less than Muskin’s net worth, which rose to $ 335 billion last November.

According to Jeff Bezos, founder of the e-commerce company “Amazon” and the world’s second richest man, he has lost about $ 25 billion in wealth since the beginning of this year.

Microsoft co-founder Bill Gates has seen his net worth fall by $ 9.5 billion since January 1, while Larry Page’s net worth has fallen by $ 12 billion.

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

The losses come after a sharp drop in technology companies’ Nasdaq index last week on the back of a number of factors, including high interest rates and inflation.

The index fell more than 15 percent in mid-November, marking the worst month since October 2008. In light of the financial crisis.


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