Bezos, Musk, Zuckerberg and Gates lose a collective $25 billion in net worth after tech stocks fall

  • 📰 CNBC
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 72%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Tech companies took a beating Thursday, as S&P 500 tech sector closed down 5.8%.

The United States' richest Big Tech executives lost a collective $25 billion to their net worth after Thursday's market sell-off, according to data compiled by CNBC's Robert Frank.

The S&P 500 tech sector closed down 5.8% Thursday, dragging markets in the red. The dramatic drops shaved several billions off the net worth of some of the richest people in the world who saw their wealth balloon in recent weeks as tech stocks ripped higher.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Money help me

It's a shame and a waste that anyone lost any amount of money in that senseless sell off - it's all relative, whether a person lost hundreds, thousands, millions, or billions, doesn't matter - there was no need for it WhatAWaste

Not really

I can understand if the markets need to slow their growth or just chill for a while, but I do not understand how mass/herd selling is 'healthy' - too many portfolios caught up in it & losing $ they can't afford to lose

Great news 🤑

Paper losses don’t mean anything

Bubbles Bubbles

Only paper.

If u think any of these guys track their wealth day to day u r really dumb. Im sure they all know its overvalued and they are prob selling.

Bezos make 13 billion a day so I’m supposed to feel bad he only made 8 billion yesterday. Ok

You won't see this on Robert Reich's page. Only when they increase net worth. It cuts both ways

they still woke up billionaires $$$$

Should be 25 Billion each

Now tell us their total net collective worth. They’ll be ok.

😢😢😢 how will they survive now. thoughts and prayers thru these tough times.

is this all you folks a cnbc think about ?

Who cares

Glad someone had a worse day than I did. Somehow I don't think it bothered them as much as me.

😢

A few pennies that they’ll get right back at some point...🤓...

Let’s start a gofundbillionaires campaign to get these folks their money back.

Means nothing to them..just saying

Chump change for them.

And?

Tax the rich.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Musk promises Tesla design overhaul, 'ravecave' at Berlin plant - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. They all ready had a rave-cave and it went bankrupt... I see Mr Musk turning back to his roots huh🤔?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Jeff Bezos thought there was a '30% chance' Amazon would succeed: I told my parents 'it's very likely they'll lose their entire investment'When Jeff Bezos launched Amazon as an online bookseller in 1994, he didn't think it was likely to succeed. 'I never thought we'd build what Amazon has turned into,' Bezos said in 2000. 'And I'm the most surprised on the planet.' MakeIt Well, most people do not realize that Amazon when is started in 1994, it was just a book review website. Later on they started selling used books. The Amazon we know today is completely different from what it was for the first handful of years MakeIt Impossible to now as people like him will destroy you out of the gates MakeIt 1/3 kids are going hungry in America. Bezos should be taxed until he can’t see straight. Billionaires bad for labor, competitive markets, consumer protections and democracy.
Source: CNBC - 🏆 12. / 72 Read more »