Tech billionaires see wealth shrink amid 2022 stock crunch | Business

After becoming the world's richest person in 2021, the Tesla and SpaceX boss saw over half of his net worth evaporate this year, boosting France's luxury goods mogul Bernard Arnault into the top spot.

Musk largely financed his $44 billion buyout of Twitter by selling off shares in Tesla, putting the share price into an even steeper downward spiral.The Facebook founder has put all his efforts into promoting the so-called metaverse, but investors are not as confident that the world will be going completely virtual anytime soon.Wall Street's lack of confidence has sliced $81 billion off of Zuckerberg's fortune, leaving it at $44.4 billion as of December 28.

Bezos, who remains as Amazon's executive chairman, has lost more than $86 billion this year, leaving a fortune estimated at $106 billion. Page's wealth is down to $46.1 billion and Brin's is down to $44.8 billion. They are still the 10th and 11th richest people on the planet, according to Bloomberg.The Chinese billionaire is an outlier to the tech debacle. The founder of TikTok-owner Bytedance saw his fortune rise by $10.4 billion in 2022.

_Business Scamdemic/Lockdowns over inflated most of their true worth.

MboniMushiana _Business How does it feel to know that he spends more on toilet paper than your turnover

_Business Are you kidding. Most stock are in a downturn. Have you looked at the figures?

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zambia was Africa’s top stock market in 2022 - it climbed 12% in dollar terms | BusinessA rally in Copperbelt Energy Corp. is poised to help Zambia’s benchmark stock index become Africa’s best performer this year. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

Incredible medical breakthroughs of 2022, from treating blood cancer to slowing Alzheimer's disease | Business InsiderIn 2022, scientists made several breakthroughs that pave the way for new drugs and vaccines for serious medical conditions with few treatments. Sijova nini? Financial stability is guaranteed to those who work towards it. I have given listening ears to his mentoring and I have learnt that if you wanna get rich, don’t save your money, invest it with JamesAlderson0 and watch how your life would be transformed for the better Few months back I had no way of taking care of my kids , had no job or money also struggling through the pandemic,so I decided to try Bitcoin trading with the help of Allison_Grillo I was able to earn $50,000 now am financially stable.
Source: BISouthAfrica - 🏆 34. / 51 Read more »