The billionaire had a bad year.
According to Forbes, the world’s billionaires have lost nearly $2 trillion in 2022 combined. US Billionaire In total he lost $660 billion. This was the highest of any country, according to Forbes calculations. Rising interest rates, soaring inflation, and a weak economy have driven tech stock prices down.
Of America’s billionaires, Tesla, SpaceX and newly minted Twitter CEO Elon Musk have seen his fortune decline the most. Musk’s net worth has fallen by about $115 billion this year, according to Forbes.
When Musk bought Twitter for $44 billion in October, he sold about $23 billion of Tesla stock to fund the deal. He has since admitted that the deal was an “obvious” overpayment.very recently he identified himself plans to resign as CEO of social media platforms once he finds a suitable replacement.
Tesla shares are down nearly 70% year-to-date as of Dec. 27. A longtime Tesla investor has asked the board to refocus Musk on the electric-car company.
Musk lost his status as the world’s richest person this year, but he remains the richest person in the United States with a net worth of nearly $139 billion as of Dec. 27, according to Forbes.
According to the publication, Musk is “the biggest loser of 2022,” but he’s not the only billionaire whose net worth has taken a hit. Here’s how much money five US billionaires will lose in 2022, according to Forbes.
1. Jeff Bezos
Title: Founder and Chairman of Amazon
Estimated losses in 2022: -$80 billion
Net Worth: $106.8 billion As of December 27
2. Mark Zuckerberg
Title: Co-Founder, Meta Platforms (Facebook’s parent company)
Estimated losses in 2022: -$78 billion
Net Worth: $42.7 billion As of December 27
3. Larry Page
Job Title: Google Co-Founder and Director
Estimated losses in 2022: -$40 billion
Net Worth: $76.8 billion As of December 27
4. Phil Knight
Title: Chair, Nike
Estimated losses in 2022: -$18.3 billion
Net Worth: $45.2 billion As of December 27
5. Leonard Lauder
Job Title: Chairman Emeritus of The Estée Lauder Companies
Estimated losses in 2022: -$9.8 billion
Net Worth: $22 billion As of December 27
Some prominent moguls have dropped off the billionaire list entirely in 2022. For example, rapper Kanye West, who now goes by the name Ye, was dropped from the ranks after Adidas cut ties with him on Oct. 25 due to his ongoing anti-Semitic remarks. rice field.
And Sam Bankman-Fried went from Fortune magazine cover star to potential felon. The founder and former CEO of crypto trading platform FTX, now accused of fraud, saw his net worth plummet by billions after FTX filed for bankruptcy on his November 11th. I witnessed it.
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