Bubble is full of air and ther

3
1
Favorite

Road1Warrior
2022-12-30

Bubble is full of air and there was really just air that inflated the balloon! Nothing was lost when it wasn't there in the first place?

How Elon Musk, Mark Zuckerberg and the World’s 500 Richest Billionaires Lost $1.4 Trillion in a Year

For the vast majority of the world’s wealthiest people, 2022 was a year to forget.It’s not just the

How Elon Musk, Mark Zuckerberg and the World’s 500 Richest Billionaires Lost $1.4 Trillion in a Year

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（1）

Top
Latest

Shininglight
·2022-12-30
ok
Reply
Like
Report

Most Discussed

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":9927924013,"tweetId":"9927924013","gmtCreate":1672375768433,"gmtModify":1676538681446,"author":{"id":4098084219326670,"authorId":4098084219326670,"authorIdStr":"4098084219326670","name":"Road1Warrior","avatar":"https://community-static.tradeup.com/news/444bc0aeceab5292f15cd24cd37ab6c3","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":4,"crmLevelSwitch":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 100","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.09.27","exceedPercentage":"80.48%","individualDisplayEnabled":0},"individualDisplayBadges":[],"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Bubble is full of air and there was really just air that inflated the balloon!&nbsp; Nothing was lost when it wasn't there in the first place?</p></body></html>","htmlText":"<html><head></head><body><p>Bubble is full of air and there was really just air that inflated the balloon!&nbsp; Nothing was lost when it wasn't there in the first place?</p></body></html>","text":"Bubble is full of air and there was really just air that inflated the balloon! Nothing was lost when it wasn't there in the first place?","highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9927924013","repostId":1184571168,"repostType":4,"repost":{"id":"1184571168","pubTimestamp":1672355752,"share":"https://www.laohu8.com/m/news/1184571168?lang=&edition=full","pubTime":"2022-12-30 07:15","market":"us","language":"en","title":"How Elon Musk, Mark Zuckerberg and the World’s 500 Richest Billionaires Lost $1.4 Trillion in a Year","url":"https://stock-news.laohu8.com/highlight/detail?id=1184571168","media":"Bloomberg","summary":"For the vast majority of the world’s wealthiest people, 2022 was a year to forget.It’s not just the ","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/5f2da7c9d8ae62714b18de6c8891895e\" tg-width=\"1400\" tg-height=\"1050\" width=\"100%\" height=\"auto\"/></p><p>For the vast majority of the world’s wealthiest people, 2022 was a year to forget.</p><p>It’s not just the money that was lost, though it was staggering — almost $1.4 trillion was wiped from the fortunes of the richest 500 alone, according to theBloomberg Billionaires Index. Plenty of the pain, it turns out, was self-inflicted: The alleged fraud by onetime crypto wunderkind Sam Bankman-Fried; the devastating war waged by Russia on Ukraine that spurred crippling sanctions on its business titans; and, of course, the antics ofElon Musk, the new owner of Twitter who’s worth $138 billion less than he was on Jan. 1.</p><p>Combined with a backdrop of widespread inflation and aggressive central bank tightening, the year was a dramatic comedown for a group of billionaires whose fortunes swelled to unfathomable heights in the Covid era of easy money. In most cases, the bigger the rise, the more dramatic the fall: Musk,Jeff Bezos,Changpeng ZhaoandMark Zuckerbergalone saw some $392 billion erased from their cumulative net worth.</p><p><img src=\"https://static.tigerbbs.com/e7e036c54f11dc387c25a85c525e512d\" tg-width=\"800\" tg-height=\"556\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Elon MuskPhotographer: Liesa Johannssen-Koppitz/Bloomberg</p><p>It wasn’t all bad news for the billionaire class, though. India’sGautam AdanisurpassedBill GatesandWarren Buffetton the wealth index, while some of theworld’s richest families, like the Kochs and the Mars clan, also added to their fortunes. Sports franchises only became more valuable, growing increasingly unobtainable for anyone outside the top 0.0001%.</p><p>Here’s a month-by-month review of the data and stories that defined a tumultuous year for billionaires.</p><h2>January: Warning Shots</h2><p>Musk, the world’s richest person at the time,loses$25.8 billion on Jan. 27 after Tesla Inc. warns about supply challenges. It’s the fourth-steepest one-day fall in the history of the Bloomberg wealth index and foreshadows a rocky year ahead for Musk, both personally and financially.</p><h2>February: Oligarch Wealth Obliterated</h2><p>Russia’s richest people collectively lose $46.6 billion on Feb. 24, the day Vladimir Putin orders his army to invade Ukraine. In short order, authorities in the European Union, UK and US target Russia’s “oligarchs” and their companies with sanctions that make it next-to-impossible for the business tycoons to keep control of their assets in the West. Superyachts are grounded, London’s ultra-luxury property market braces for a slowdown andRoman Abramovichannounces he’ssellingChelsea FC of the Premier League. The wealthiest Russians go on to lose another $47 billion over the course of 2022 as the war grinds on.</p><h2>March: China’s Fortunes Crushed</h2><p>China’s markets go frombad to worse, erasing $64.6 billion from the fortunes of the country’s wealthiest people on March 14. They lose another $164 billion in 2022 as strenuous Covid-containment efforts, a buckling property market, heightened scrutiny of the tech industry and trade tensions with the US drag on the world’s second-largest economy. That, combined with President Xi Jinping’s populist rhetoric, has more affluent Chinese plotting to get themselves — and their money — out of the country.</p><h2>April: Musk’s Twitter Gambit</h2><p>Soon after revealing a 9.1% stake in Twitter, Musk offers to buy the company outright on April 14 at a $44 billion valuation. It’s a steep price, even for him. Tofinancethe deal, he initially plans to borrow billions, leverage more of his Tesla shares and pony up$21 billionin cash, which analysts correctly predict will require offloading Tesla stock. Markets deteriorate in the coming months and Musk tries to devise an escape route, kicking off a months-long legal wrangle with Twitter. By the time the deal is completed in October, Musk’s net worth is $39 billion lower than when he made his initial offer.</p><p><img src=\"https://static.tigerbbs.com/c09b98b62f617dee77fe625d72db870b\" tg-width=\"642\" tg-height=\"385\" width=\"100%\" height=\"auto\"/></p><h2>May: Boehly Buys Chelsea</h2><p>A group helmed by finance billionaireTodd Boehly and Clearlake Capitalclinchesthe £4.25 billion ($5.25 billion) winning bid for Chelsea. It’s the highest price ever paid for a sports team, and it caps a frenzied two-month process that attracted more than 100 bidders from all over the world, including British billionaireJim Ratcliffe, Apollo Global Management co-founderJosh Harris, Bain Capital co-Chairman Steve Pagliuca and Citadel’sKen Griffinwith the Ricketts family. The net proceeds from the sale, including £1.6 billion in waived debt owed to Abramovich by the team, is earmarked for charity benefiting Ukraine.</p><h2>June: Waltons Win Broncos</h2><p>Rob Walton, heir to the Walmart fortune, agrees tobuythe Denver Broncos for $4.65 billion, setting a record for a US sports team, and underscoring the enduring appeal of owning an NFL franchise. The Walton consortium includes Rob’s daughter Carrie, her husband Greg Penner, Ariel Investments President Mellody Hobson, racecar driver Lewis Hamilton and Condoleezza Rice. The deal made Hobson and Rice the first Black women to hold an ownership stake in an NFL team. The Walton-led offer trumped those from Clearlake Capital founder Jose Feliciano, United Wholesale Mortgage CEOMat Ishbiaand, again, Harris. (Ishbia and his brother would agree to buy a majority stake in the NBA’s Phoenix Suns in December.)</p><p><img src=\"https://static.tigerbbs.com/335974f748460762f93b6a614c4fcf80\" tg-width=\"612\" tg-height=\"353\" width=\"100%\" height=\"auto\"/></p><h2>July: China’s Homebuilders Crumble</h2><p>Yang Huiyan losesthe title of Asia’s wealthiest woman after her fortune more than halves over seven months amid China’s unfolding property crisis. Country Garden Holdings, the developer that Yang inherited from her father in 2005, benefited from a dizzying homebuilding spree in recent years. But the country’s efforts to curb real estate prices and Xi’s crackdown on consumption put a stranglehold on the sector, stalling projects and leading frustrated homeowners to quit paying mortgages on halted developments. Country Garden’s stock price — and Yang’s wealth — has yet to recover.</p><p><img src=\"https://static.tigerbbs.com/2ccf53932ed41ab98502ad77aa9e342f\" tg-width=\"646\" tg-height=\"391\" width=\"100%\" height=\"auto\"/></p><h2>August: Adani Ascends</h2><p>Coal tycoons sound like a relic of another era. But with the world roiled by the war in Ukraine, Adani, an Indian coal miner with a fast-expanding empire, surges past Gates and France’sBernard Arnaultto become the world’sthird-richestperson at the end of August. It marks the highest ranking ever for an Asian billionaire. Aligning himself with Indian Prime Minister Narendra Modi, Adani has used debt to rapidly diversify his relatively opaque conglomerate, Adani Group, into ports, data centers, highways and controversially, green energy. In September, he briefly passed Bezos to become the world’ssecond-richest person.</p><p><img src=\"https://static.tigerbbs.com/6aafb5b53642e2be2b6f3ccca478f673\" tg-width=\"652\" tg-height=\"393\" width=\"100%\" height=\"auto\"/></p><h2>September: Zuckerberg’s Wipeout</h2><p>Even in a rough year for US tech titans, Zuckerberg’s losses stand out. By mid-September his net worth hasplungedby $71 billion since Jan. 1 — a 57% loss — on account of a costly pivot to the metaverse and the industry-wide downturn that’s dragged down the stock price of Meta Platforms Inc. Over the course of the year he’ll fall 19 ranks on the Bloomberg wealth index, finishing 2022 at 25th, his lowest position since 2014.</p><p><img src=\"https://static.tigerbbs.com/8cd93c4663e2ceb50d48ec70a18b02a6\" tg-width=\"658\" tg-height=\"337\" width=\"100%\" height=\"auto\"/></p><h2>October: Covid Billionaires Collapse</h2><p>The bubble of the Covid economy is deflating fast and with it, the fortunes of the so-called Covid billionaires — those moguls who minted enormous fortunes from vaccines (Moderna’sStephane Bancel), used cars (Carvana’sErnie Garcia IIand Ernie Garcia III), online shopping (Coupang’sBom Kim) and, of course, Zoom (Eric Yuan). The 58 billionaires whose fortunes multiplied at a blistering pace from such pandemic industries saw an average decline in the value of their assets of 58% from their peak, a far sharper fall than the other constituents of the Bloomberg wealth index.</p><h2>November: $16 Billion to Zero</h2><p>Bankman-Fried’s crypto exchange FTX collapses after a liquidity crunch reveals gaping holes in his empire’s balance sheet and an absence of risk controls. The 30-year-old’s $16 billion fortune iserasedin less than a week. At its peak, his net worth was valued at $26 billion. The debacle taints numerous Washingtonpoliticianswho took his donations, stiffs many charities, humiliates investors in Silicon Valley and beyond, and leaves some 1 million clients in limbo and wondering if they’ll get their money back. Binance CEO Zhao, known in the crypto world as CZ, has seen his net worth tumble by about $84 billion this year, while other crypto billionaires likeCameronandTyler Winklevoss,Michael NovogratzandBrian Armstronglook todistance themselvesfrom FTX’s collapse.</p><h2>December: Musk DethronedRichest of All</h2><p><img src=\"https://static.tigerbbs.com/72cda84d03d420f20f66f664738478d1\" tg-width=\"643\" tg-height=\"385\" width=\"100%\" height=\"auto\"/></p><p>Musk is unseated as theworld’s richest personby Arnault, the French luxury tycoon behind LVMH. While Arnault hasn’t been immune to the tough 2022, down about $16 billion for the year, it pales next to Musk’s losses of more than $138 billion. How did we get here? Take a market downturn, add an impulse purchase of an unprofitable, lightning rod social-media company, mix in a heap of leverage, more supply-chain woes and an insatiable desire for attention. Easy come, easy go.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How Elon Musk, Mark Zuckerberg and the World’s 500 Richest Billionaires Lost $1.4 Trillion in a Year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow Elon Musk, Mark Zuckerberg and the World’s 500 Richest Billionaires Lost $1.4 Trillion in a Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-30 07:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/features/2022-12-29/billionaire-wealth-losses-in-2022-hit-1-4-trillion-led-by-elon-musk-jeff-bezos?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For the vast majority of the world’s wealthiest people, 2022 was a year to forget.It’s not just the money that was lost, though it was staggering — almost $1.4 trillion was wiped from the fortunes of ...</p>\n\n<a href=\"https://www.bloomberg.com/news/features/2022-12-29/billionaire-wealth-losses-in-2022-hit-1-4-trillion-led-by-elon-musk-jeff-bezos?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.bloomberg.com/news/features/2022-12-29/billionaire-wealth-losses-in-2022-hit-1-4-trillion-led-by-elon-musk-jeff-bezos?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184571168","content_text":"For the vast majority of the world’s wealthiest people, 2022 was a year to forget.It’s not just the money that was lost, though it was staggering — almost $1.4 trillion was wiped from the fortunes of the richest 500 alone, according to theBloomberg Billionaires Index. Plenty of the pain, it turns out, was self-inflicted: The alleged fraud by onetime crypto wunderkind Sam Bankman-Fried; the devastating war waged by Russia on Ukraine that spurred crippling sanctions on its business titans; and, of course, the antics ofElon Musk, the new owner of Twitter who’s worth $138 billion less than he was on Jan. 1.Combined with a backdrop of widespread inflation and aggressive central bank tightening, the year was a dramatic comedown for a group of billionaires whose fortunes swelled to unfathomable heights in the Covid era of easy money. In most cases, the bigger the rise, the more dramatic the fall: Musk,Jeff Bezos,Changpeng ZhaoandMark Zuckerbergalone saw some $392 billion erased from their cumulative net worth.Elon MuskPhotographer: Liesa Johannssen-Koppitz/BloombergIt wasn’t all bad news for the billionaire class, though. India’sGautam AdanisurpassedBill GatesandWarren Buffetton the wealth index, while some of theworld’s richest families, like the Kochs and the Mars clan, also added to their fortunes. Sports franchises only became more valuable, growing increasingly unobtainable for anyone outside the top 0.0001%.Here’s a month-by-month review of the data and stories that defined a tumultuous year for billionaires.January: Warning ShotsMusk, the world’s richest person at the time,loses$25.8 billion on Jan. 27 after Tesla Inc. warns about supply challenges. It’s the fourth-steepest one-day fall in the history of the Bloomberg wealth index and foreshadows a rocky year ahead for Musk, both personally and financially.February: Oligarch Wealth ObliteratedRussia’s richest people collectively lose $46.6 billion on Feb. 24, the day Vladimir Putin orders his army to invade Ukraine. In short order, authorities in the European Union, UK and US target Russia’s “oligarchs” and their companies with sanctions that make it next-to-impossible for the business tycoons to keep control of their assets in the West. Superyachts are grounded, London’s ultra-luxury property market braces for a slowdown andRoman Abramovichannounces he’ssellingChelsea FC of the Premier League. The wealthiest Russians go on to lose another $47 billion over the course of 2022 as the war grinds on.March: China’s Fortunes CrushedChina’s markets go frombad to worse, erasing $64.6 billion from the fortunes of the country’s wealthiest people on March 14. They lose another $164 billion in 2022 as strenuous Covid-containment efforts, a buckling property market, heightened scrutiny of the tech industry and trade tensions with the US drag on the world’s second-largest economy. That, combined with President Xi Jinping’s populist rhetoric, has more affluent Chinese plotting to get themselves — and their money — out of the country.April: Musk’s Twitter GambitSoon after revealing a 9.1% stake in Twitter, Musk offers to buy the company outright on April 14 at a $44 billion valuation. It’s a steep price, even for him. Tofinancethe deal, he initially plans to borrow billions, leverage more of his Tesla shares and pony up$21 billionin cash, which analysts correctly predict will require offloading Tesla stock. Markets deteriorate in the coming months and Musk tries to devise an escape route, kicking off a months-long legal wrangle with Twitter. By the time the deal is completed in October, Musk’s net worth is $39 billion lower than when he made his initial offer.May: Boehly Buys ChelseaA group helmed by finance billionaireTodd Boehly and Clearlake Capitalclinchesthe £4.25 billion ($5.25 billion) winning bid for Chelsea. It’s the highest price ever paid for a sports team, and it caps a frenzied two-month process that attracted more than 100 bidders from all over the world, including British billionaireJim Ratcliffe, Apollo Global Management co-founderJosh Harris, Bain Capital co-Chairman Steve Pagliuca and Citadel’sKen Griffinwith the Ricketts family. The net proceeds from the sale, including £1.6 billion in waived debt owed to Abramovich by the team, is earmarked for charity benefiting Ukraine.June: Waltons Win BroncosRob Walton, heir to the Walmart fortune, agrees tobuythe Denver Broncos for $4.65 billion, setting a record for a US sports team, and underscoring the enduring appeal of owning an NFL franchise. The Walton consortium includes Rob’s daughter Carrie, her husband Greg Penner, Ariel Investments President Mellody Hobson, racecar driver Lewis Hamilton and Condoleezza Rice. The deal made Hobson and Rice the first Black women to hold an ownership stake in an NFL team. The Walton-led offer trumped those from Clearlake Capital founder Jose Feliciano, United Wholesale Mortgage CEOMat Ishbiaand, again, Harris. (Ishbia and his brother would agree to buy a majority stake in the NBA’s Phoenix Suns in December.)July: China’s Homebuilders CrumbleYang Huiyan losesthe title of Asia’s wealthiest woman after her fortune more than halves over seven months amid China’s unfolding property crisis. Country Garden Holdings, the developer that Yang inherited from her father in 2005, benefited from a dizzying homebuilding spree in recent years. But the country’s efforts to curb real estate prices and Xi’s crackdown on consumption put a stranglehold on the sector, stalling projects and leading frustrated homeowners to quit paying mortgages on halted developments. Country Garden’s stock price — and Yang’s wealth — has yet to recover.August: Adani AscendsCoal tycoons sound like a relic of another era. But with the world roiled by the war in Ukraine, Adani, an Indian coal miner with a fast-expanding empire, surges past Gates and France’sBernard Arnaultto become the world’sthird-richestperson at the end of August. It marks the highest ranking ever for an Asian billionaire. Aligning himself with Indian Prime Minister Narendra Modi, Adani has used debt to rapidly diversify his relatively opaque conglomerate, Adani Group, into ports, data centers, highways and controversially, green energy. In September, he briefly passed Bezos to become the world’ssecond-richest person.September: Zuckerberg’s WipeoutEven in a rough year for US tech titans, Zuckerberg’s losses stand out. By mid-September his net worth hasplungedby $71 billion since Jan. 1 — a 57% loss — on account of a costly pivot to the metaverse and the industry-wide downturn that’s dragged down the stock price of Meta Platforms Inc. Over the course of the year he’ll fall 19 ranks on the Bloomberg wealth index, finishing 2022 at 25th, his lowest position since 2014.October: Covid Billionaires CollapseThe bubble of the Covid economy is deflating fast and with it, the fortunes of the so-called Covid billionaires — those moguls who minted enormous fortunes from vaccines (Moderna’sStephane Bancel), used cars (Carvana’sErnie Garcia IIand Ernie Garcia III), online shopping (Coupang’sBom Kim) and, of course, Zoom (Eric Yuan). The 58 billionaires whose fortunes multiplied at a blistering pace from such pandemic industries saw an average decline in the value of their assets of 58% from their peak, a far sharper fall than the other constituents of the Bloomberg wealth index.November: $16 Billion to ZeroBankman-Fried’s crypto exchange FTX collapses after a liquidity crunch reveals gaping holes in his empire’s balance sheet and an absence of risk controls. The 30-year-old’s $16 billion fortune iserasedin less than a week. At its peak, his net worth was valued at $26 billion. The debacle taints numerous Washingtonpoliticianswho took his donations, stiffs many charities, humiliates investors in Silicon Valley and beyond, and leaves some 1 million clients in limbo and wondering if they’ll get their money back. Binance CEO Zhao, known in the crypto world as CZ, has seen his net worth tumble by about $84 billion this year, while other crypto billionaires likeCameronandTyler Winklevoss,Michael NovogratzandBrian Armstronglook todistance themselvesfrom FTX’s collapse.December: Musk DethronedRichest of AllMusk is unseated as theworld’s richest personby Arnault, the French luxury tycoon behind LVMH. While Arnault hasn’t been immune to the tough 2022, down about $16 billion for the year, it pales next to Musk’s losses of more than $138 billion. How did we get here? Take a market downturn, add an impulse purchase of an unprofitable, lightning rod social-media company, mix in a heap of leverage, more supply-chain woes and an insatiable desire for attention. Easy come, easy go.","news_type":1},"isVote":1,"tweetType":1,"viewCount":231,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":111,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":105393994,"gmtCreate":1672376374576,"gmtModify":1672376387206,"authorId":3563607262597606,"author":{"id":3563607262597606,"authorId":3563607262597606,"name":"Shininglight","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9927924013,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}