2022 – Elon Musk, Jeff Bezos and Bill Gates lose $115 billion in five months

Elon Musk and Jeff Bezos remain the richest people in the world.

  • Musk, Bezos and Gates’ net worth has been reduced by $115 billion this year.
  • The numbers come from the Bloomberg Billionaires Index, which tracks the world’s 500 richest people.
  • Musk’s $224 billion fortune still makes him the richest person in the world by a large margin.

Elon Musk, Jeff Bezos and Bill Gates have suffered a collective loss of their $115 billion net worth over the past five months as stock markets plunge.

According to the Bloomberg Billionaires Index, Musk’s value fell by $46.4 billion, Bezos by $53.2 billion, and Gates by $15.1 billion.

As of Friday, Musk was worth $224 billion, Bezos was $139 billion, and Gates was $123 billion.

Bernard Arnault, chairman of French luxury group LVMH and the world’s third-richest person before Gates, has seen his fortune drop by $44.7 billion to $133 billion since January.

Most of Musk and Bezos’ fortunes are tied to shares of Tesla and Amazon – the companies they both founded – but Gates’ stake in Microsoft, which he co-founded, is now relatively modest.

Musk owns a 15.6% stake in Tesla, valued at about $122 billion, after shares of the electric car maker have fallen about 37% this year.

He also acquired a 9.2% stake in Twitter in April, prompting investors to question his commitment to Tesla and help drive its value down. Musk sold $8.4 billion worth of Tesla stock to fund the subsequent $44 billion takeover offer.

According to Bloomberg, Bill Gates is the fourth richest person in the world.

Gates has a more diversified portfolio, which has helped him cope with the massive sell-off in the stock market. The Bill and Melinda Gates Foundation, the charity he founded with his now ex-wife, invests primarily in Warren Buffett’s Berkshire Hathaway, which is up more than 5% this year.

But other investments, including his Cascade Investments, which invests in technology companies like Apple, have been more difficult. Technology stocks have suffered a sharp correction in recent months amid inflationary pressures and declining consumer confidence.

has a hold Gates accuses Get a “billion dollar” bet against Tesla by taking a short position.

The Tesla and SpaceX founder has been embroiled in a public war of words with Gates and Bezos, targeting the pair in a series of tweets accusing Gates of dereliction and urging Bezos to spend less time partying when his Blue Origin missile company wanted to go into orbit.

Bezos, the founder of Amazon, still owns about 50 million shares of stock in the company, which is valued at about $115 billion.

The stock is down nearly a third this year, but is still worth nearly $1.2 trillion — well above Tesla’s valuation of $786 billion after a nearly 37% drop.

Read the original article on Business Insider

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