Unfortunately,The Richest People In The World Have Lost So, Much Money In The Past Year

Net Worth:

As years go by, things and situations ought to change, it doesn’t necessarily need to take too long for things to go wrong. One year might sound so long but a whole lot can go wrong in 12 months.

From the dawn of 2020 to 2021, the world of technology looks like it will never end, New trends and beginners were earning millions of dollars from their various business ventures, and the stock market was growing with technology placed above all. Businesses and Innovations were growing well.

Moving on to the current stock market which has crumbled so badly, Inflation has gone so high which means that investors in businesses that are technologically based ought to give it a rethink even though some of the strategies used in the company are shifting and costs are been trimmed down.

In this regard, from September 2021 to September 2022 over 400 richest persons in the world have lost a whopping $500 billion. Technology experts have been hit so badly with a loss of $315 billion during this period of time.

Jeff Bezos the founder of Amazon has suffered over 25% loss of his net worth which is about $50 billion. He also is no longer America’s richest person, now placed at number two behind Elon Musk.

Google another internet backbone has been struggling severely, in 2019, the two co-founders of the company Larry Page and Sergey Brin stopped every operation on Alphabeth, and Google due to a $40 billion and $38 billion loss respectively.

Over the last few years, an addition of two other billionaires ran into a loss of seizable amounts of money. To the sudden decline of Microsoft’s Stake and over $20 billion given to the Bill and Melinda Gates Foundation, Bill Gates’s net worth decreased by a total of $28 billion.

Currently, Jeff Bezos’s wife MacKenzie Scott saw a loss of $20.8 billion in her net worth due to the falling value of her husband’s company Amazon and also charitable contributions.

Mark Zuckerberg heads them all with a loss of over $100 billion in the course of one year from November 1, 2021, to November 1, 2022. He was the third richest person in the world and had a net worth of $140 billion just last year.

Mark Zuckerberg is positioned in the top 30 due to his net worth of $36 billion. He has suffered from losses as a result of the fall in Facebook stock price since January 1st, 2022.

Other Experts in technology who had a difficult year:

Oracle co-founder and owner of the island Lanai, Larry Ellison, suffered a $16.3 billion loss.

Pierre Omidyar, the founder of eBay, suffered a $15.4 billion loss when shares of PayPal fell (PayPal acquired eBay in 2015).

Steve Ballmer Former Ceo of Microsoft and owner of the Los Angeles Clippers Steve Ballmer had a $13.5 billion loss. He was at Clippers games, a regular visitor.

At the break of the pandemic, Eric Yuan, Zoom inventor ran into $10.6 billion, or 73% of his wealth.

Jack Dorsey the co-founder of Twitter and a significant investor in Block, Square’s parent company, ran into a loss of $10.4 billion, or slightly under 70% of his net worth.

These technology giants are still incredibly affluent and have billions of dollars in market capitalization.

Nevertheless, it can never be pleasing for a successful entrepreneur or businessman to watch an important portion of his wealth go down the drain.

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