The billionaires are bleeding. Elon Musk, Jeff Bezos and other top earners have lost nearly $200 billion in 2022. Elon Musk’s wealth down by more than $59 billion this year as Tesla stock drops to $703, according to Bloomberg's Billionaire's Index, a daily ranking of the world's wealthiest.
Tesla CEO Elon Musk suffered the most losses among the top ten billionaires. As of last Friday, Musk's net assets were $211billion, with a loss of $59.5 billion this year, but still ranked first in the rich list.
Just behind Musk is Amazon.com founder and former CEO Jeff Bezos. Amazon shares have lost 26.6% so far this year. Year-to-date, Bezos has lost $46.1 billion.
Bernard Arnault, chairman of LVMH, has a net asset of 137billion US dollars and a loss of 41billion US dollars this year.
Microsoft co-founder Bill Gates has a net worth of $123billion and a loss of $14.9 billion this year.
Warren Buffett, chairman of Berkshire Hathaway, has a net asset of $113billion, and his wealth has increased by $3.7 billion this year.
Google co-founder Larry Page has a net worth of $104billion and a loss of $24.5 billion this year.
Mukesh Ambani, chairman of Reliance Group in India, has a net asset of $101billion, an increase of $11.3 billion this year.
Google co-founder Sergey Brin has a net worth of $99.6 billion and a loss of $23.9 billion this year.
Gautam Adani, founder of Adani Group in India, has a net asset of US $95.8 billion, an increase of US $19.3 billion this year.
Steve Ballmer, former CEO of Microsoft, has a net asset of 95.4 billion US dollars and a loss of 10.3 billion US dollars this year.
The S&P 500 has fallen 13.8% so far this year. Since January 3, the market has been in the process of adjustment, and the duration has exceeded the historical average adjustment time.
So far this year, Tesla's share price has fallen by 33.4% and Amazon's share price has fallen by 26.6%, seriously affecting the wealth of the world's two richest people, who have lost a total of $105billion.
In 2022, only 3 of the top 10 billionaires achieved wealth growth, including Buffett and two Indian billionaires Ambani and Adani.
So far this year, only 5 of the 25 richest people in the world have achieved wealth growth. In addition to Buffett, Ambani and Adani, there are Mexican tycoon carlosslim (an increase of $4.2 billion) and Dell founder Michael Dell (an increase of $89.4 million), who rank 12th and 21st respectively on the rich list.
In addition to the top ten richest people, Mark Zuckerberg, the founder and CEO of Meta, lost the most wealth this year, with his worth reduced by $55billion, second only to musk.