The billionaires are bleeding. Elon Musk, Jeff Bezos and other top earners have lost nearly $200 billion in 2022
The world’s largest billionaires alone lost more than $ 40 billion as markets closed Wednesday, Billionaire’s Index, the world’s richest daily ration.
Jeff Bezoss,Elon Musk,Bill Gates
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Still at the top of that list is Tesla’s TSLA, -0.05% chief executive, Elon Musk, who has lost most of the $ 500 billion. Musk spent $ 12.3 billion on his personal assets such as the Dow Jones Industrial Average DJIA, -0.75% and the S&P 500 SPX, -0.58% saw their worst days in two years.
Musk was pursuing a $ 44 billion TWTR Twitter deal, + 1.19%, disputing with telecommunications service CEO Parag Agrawal over spam bots, in what could be a bid to get a cheap deal or throw it all together. Wednesday’s collection of Musk’s tweets, in which he vowed to vote for the Republic in the next election and criticized the S&P ESG index as a scam after the referee rejected Tesla.
Tesla’s stock price was cut by Wedbush on Thursday, as an analyst quoted “circus show” via Twitter and storms from China’s COVID war. Since the announcement of the deal on April 25, Tesls has dropped by 28%, though that comes amid huge market losses this year when the S&P 500 was playing lovely with the bear market.
Dry those crocodile tears, even though Musk is still worth $ 210 billion, even though he has lost $ 60.4 billion so far this year.
Shortly after Musk by Amazon.com AMZN, + 0.19% founder and former CEO Jeff Bezos, his losses on Wednesday came in second, with a drop of $ 8.48 billion leaving his fortune at $ 131 billion. Amazon shares have lost 35% so far this year, contributing to the first reported losses last month in seven years. To date, Bezos has lost $ 61.6 billion.
Third in the list of the richest, Bernard Arnault, chairman and chief executive officer of France’s largest luxury goods company LVMH Moët Hennessy LVMH, -0.35%, lost $ 3.15 billion on Wednesday and his fortune dropped by $ 52 billion this year, up from $ 52 billion this year. at $ 126 billion.
Microsoft MSFT, -0.37% co-founder Bill Gates lost $ 2.19 billion on Wednesday and is poor with $ 19.4 billion a year so far. His fortune stands at $ 119 billion, and Berkshire Hathaway’s BRK.A, -1.08% BRK.B, -0.81% chairman and CEO Warren Buffett saw $ 2.74 billion cancellate his fortune, though he has earned $ 2.17 billion a year until now. Buffet currently costs $ 111 billion.
