The recession that followed the Corona period has left an impact on everyone. The wealth of the world’s richest Elon Musk has decreased by about $ 62 billion, while the wealth of Jeff Bezos has seen a decline of about $ 63 billion. According to Bloomberg, Mark Zuckerberg’s net worth has dropped by more than half.
The world’s top 500 rich lost $14 trillion in the first half of 2022 (January-June), according to the latest estimates by the Bloomberg Billionaires Index. This has been the biggest half-year decline ever for the global billionaire class. This is the sharpest decline in the period after Corona. It slashes everything from tech companies to cryptocurrencies.
Impact of recession: The world’s top 500 rich lost $ 14 trillion in the first half of 2022
Decrease: Elon Musk’s wealth decreased by $62 billion, Jeff Bezos’s wealth declined by $63 billion
Big loss to stocks and billionaires
Some high-value stocks and billionaires are facing huge losses as policy makers raise interest rates to cope with rising inflation. Tesla Inc.’s last quarter was its worst ever. Amazon Inc. suffered the most since the dot-com bubble.
Musk still the richest man in the world
Tesla co-founder Elon Musk still has the highest net worth of $208.5 billion, according to the Bloomberg Billionaires List. Amazon owner Jeff Bezos is second with a net worth of $129.6 billion. France’s richest man Bernard Arnault is at the third place with a net worth of $128.7 billion, followed by Bill Gates at the fourth place with a net worth of $114.8 billion.