The world’s richest people have struggled to maintain their vast wealth in 2022, with many stocks falling this year and the general market seeing a slump. Here’s a look at how the top ten billionaires fared.
What happened: According to the Bloomberg Billionaires Index, the 10 richest people in the world lost a total of $192.9 billion by 2022. This represents an average drop of $19.3 billion for every member in the top ten.
Here is the current standings with their current wealth and turn of the year.
Elon Musk, CEO Tesla Inc TSLA: $211 Billion, – $59.5 Billion
Jeff Bezos, Founder Amazon.com Inc AMZN: $146 Billion, -$46.1 Billion
Bernard Arnault, CEO LVMH: $137 Billion – $41.0 Billion
Bill Gates, Co-Founder Microsoft Corporation MSFT: $123 Billion, – $14.9 Billion
Warren Buffett, CEO Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B): $113 Billion, +3.7 Billion
Larry Page, co-founder of Alphabet Inc GOOGGOOGL: $104 Billion, – $24.5 Billion
Mukesh Ambani, Chairman of Reliance Industries: $101 Billion, +11.3 Billion
Sergey Brin, co-founder of Alphabet Inc: $99.6 billion, – $23.9 billion
Gautan Adani, Founder Adani Group: $95.8 Billion, +19.3 Billion
Steve Ballmer, Former CEO of Microsoft: $95.4 Billion, – $10.3 Billion
Related link: Will Elon Musk be the first trillionaire? Here’s what a study predicts and who could be the youngest
Why it matters: The SPDR S&P 500 ETF SPY is down 14.1% since the start of the year. The market has been in a correction since January 3, which lasts longer than the average correction.
Tesla shares are down 41.4% and Amazon shares are down 28.2%, seriously impacting the wealth of the two richest people in the world, who together lost $105 billion of their assets.
Only three of the top 10 increased their wealth in 2022 with a 2.9% rise in Berkshire Hathaway stock value, boosting the wealth of Buffett and two Indian billionaires, Ambani and Adani, with strong gains and a strong move in the top 10 list.
Only five of the 25 richest people in the world have positive gains on the Bloomberg Billionaires Index year-to-date, including Carlos Slim (+4.2 billion) and Michael Dell (+89.4 million) in 12th and 21st respectively.
Outside of the top 10, Mark Zuckerberg, co-founder of Meta Platforms FB, has seen one of the biggest declines of the year, losing $55.0 billion in wealth and falling out of the top 10.
Photo: Created with images of Steve Jurvetson and Ministério Das Comunicações on Flickr
This post Elon Musk, Jeff Bezos and the 10 Richest People Lost So Much of Wealth in 2022 was original published at “https://www.benzinga.com/news/22/06/27556296/elon-musk-jeff-bezos-and-top-ten-richest-people-have-lost-this-much-in-wealth-in-2022”