Rich Tech Entrepreneurs Are Losing Billions

Abdul Ghani

In the first half of 2022, the world's billionaires lost plenty of fortunes - including Elon Musk, Jeff Bezos, and Mark Zuckerberg. The global economic crisis is affecting the wealth of the world's richest people. As Bloomberg reports, the 500 richest people have lost a total of $1.4 trillion. For comparison: Spain had a gross domestic product of the equivalent of 1.426 trillion US dollars in 2021.

The loss is the largest amount ever recorded by the 500 richest people. Also at the top of the list are some tech entrepreneurs, some of whom have suffered sharp losses. Elon Musk's fortune is said to have fallen by $62 billion, and Jeff Bezos is said to have lost $63 billion. Mark Zuckerberg's fortune is said to have halved.

Zuckerberg only ranks 17th with $60 billion. Elon Musk is still at the top with assets of $208.5 billion. This is followed by Jeff Bezos with $129.5 billion and Frenchman Bernard Arnault (LVMH, Dior) with a fortune of $128.7 billion. The fourth person with a wealth of over $100 billion is Bill Gates ($114.8 billion). Reports Mocamboo.

Governments are reacting differently than in the past two years

According to Bloomberg, unlike in the past two years during the peak phase of the corona pandemic, governments have not approved any financial packages for industry and the economy this year. Instead, interest rates are raised to prevent rising inflation.

According to Bloomberg, however, the current economic situation is also an opportunity for rich entrepreneurs. Companies that have got into economic difficulties, for example, are usually much cheaper than before the crisis.

Comments / 1

Published by

Member Of Freelancers Union (USA), Freelance Writer!, and Digital Creator. Ghani Mengal is an enthusiast Freelance blogger and digital marketer. His content has been published and featured on many popular blogs, websites, and publications. Including TeelFeed, LifeHack.org, Data-Driven Investor, TextSniper, Scientific Publication The Predict, The Startup, The Ascent, Heart Affairs, Illumination, And The List goes on.

N/A
2406 followers

More from Abdul Ghani

Comments / 0