tocks fell broadly this week, as a series of disappointing announcements by companies collided with investor fears of inflation-driven interest rate hikes.
One day earlier, Peloton’s shares crashed by more than 20%, after CNBC reported the at-home exercise equipment company is planning to suspend production to better align with consumer demand. It was the latest in a series of let downs for cofounder and CEO John Foley, who briefly became a billionaire at the height of the pandemic – his net worth has since plummeted to roughly $480 million from $1.5 billion last April.
Another big loser: Moderna’s CEO Stéphane Bancel whose net worth dropped by 22% to $5.2 billion, as the stock fell for six days straight, Tech stocks overall were particularly hard hit by looming interest rate increases. Each of the three main stock indices fell by more than 4% this week, but the NASDAQ’s 7%+ drop was the steepest. Hit particularly hard were SnapChat cofounders Evan Spiegel and Bobby Murphy, whose fortunes both slipped by more than 10% this week – or nearly $1 billion apiece.
LoL Good one!
Boo boo. I'm so sad for the guys who lost millions(which is nothing but pennies to them), what are they to do now? Now they can't get that second yacht.
Boo-hoo 😢😭
elonmusk needs another hair transplant STAT!
Just as Friend says, Good to see Just how Mentally Fit..For Anyone to be in a Relationship that Impacts Others.. and Their Stability of Life Belonging Acceptance with Community Growing 💗
So lets tax them again irony
I’d like to be a billionaire “loser”. 🧐
dramatic
yepp... when i think about losers, the richest people come to mind 👍
After receiving support from DonaldJTrumpJr, CEO of CryptoIslandInc 🏝 danbouwer intends to ally with Trump in what would be the project of the year. Donald Trump's community would be the first in the 🌏 to own a decentralized island in the Bahamas.CISLA CryptoislandDAO
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk, Tesla business in China, Xinjiang points to dark futureInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. So many of Elon's projects are just dribble. The Hyperloop (Failed), The Boring Company (Failed), Tesla Semi Trucks (Where are they?) Weren't the trucks meant to be delivered in 2019? Self Driving Tesla taxis? We need a coherent national policy across Administrations that forces Demented Dons and Demented Joes plus their cohorts and Parties to place American strategy, Allie’s, and ethics ahead of microeconomic gains.
Source: BusinessInsider - 🏆 729. / 51 Read more »