Even the super-rich are struggling right now: Elon Musk, Jeff Bezos and Bill Gates have lost a total of about $115 billion in the past five months due to the stock market slump, the latest figures show. from the Bloomberg Billionaires Index. Amazon founder Bezos had the biggest losses.
According to Business Insider, Bezos lost $53.2 billion, Tesla and SpaceX founder Elon Musk about 46.4 billion and Microsoft co-founder Bill Gates about $15.1 billion. However, none of the three people mentioned will have to gnaw on the famine anytime soon.
With an estimated net worth of $224 billion, Elon Musk remains the richest person in the world, followed by Bezos with $139 billion. With a net worth of approximately $123 billion, Gates ranks fourth in the billionaire rankings, behind Frenchman Bernard Arnault, head of the luxury goods group LVMH (including Louis Vuitton), which still has assets of $44.7 billion after a loss of $44.7 billion and 133 billion available.
Most of Musk and Bezos’ fortune is tied up in shares of Tesla and Amazon. Musk currently owns a 15.6 percent stake in Tesla, worth about $122 billion, according to the report, after the electric car maker’s shares fell nearly 37 percent this year.
Bezos, who left Amazon in June 2021, still owns about 50 million shares in the online retailer, worth about $115 billion. The stock is down nearly a third this year but is still worth nearly $1.2 trillion.
According to Business Insider, Bill Gates came off relatively light thanks to his more diversified portfolio, which helped him weather the stock market sell-off. Gates currently owns only about 1.3 percent of the stock in Microsoft, which he co-founded in 1975.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
