The world's top 500 billionaires, including Elon Musk, Jeff Bezos, and Mark Zuckerberg, have lost $1.4 trillion in the first six months of 2022.
Elon Musk's net worth dropped by nearly $62 billion. Jeff Bezos saw his net worth drop by about $63 billion. Mark Zuckerberg's net worth has more than halved. The world's 500 richest people lost $1.4 trillion in the first half of 2022.
The unprecedented measures taken by governments and central banks in the wake of the Covid-19 pandemic have seen everything from tech companies to cryptocurrencies plummet in value. As interest rates are being raised to control inflation, high-value stocks and their holders are depreciating.
Tesla had a poor quarter in June. Amazon was also hit hard. Even though the world's richest people have lost massively, the wealth inequality gap has not narrowed much. Elon Musk is still the world's biggest billionaire.
Jeff Bezos continues at number 2. According to the Bloomberg index, France's richest man, Bernard Arnold, is in third place with a fortune of $128.7 billion. Bill Gates is at number 4 with a net worth of $114.8 billion.