World's richest lost $1.4 trillion in 2022 so far: Report. See top 10 list

Notably, there only two billionaires in the top 10 list who saw gain in their fortunes – Gautam Adani (Adani Group chairman) and Mukesh Ambani (Reliance Industries chairman).

Published on: Jul 1, 2022, 22:19:17 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

The world’s 500 richest people lost $1.4 trillion in the first half of 2022, a dizzying decline that marks the steepest six-month drop ever for the global billionaire class, according to data by the Bloomberg.

Tesla founder Elon Musk, Amazon's Jeff Bezos and Reliance industries chairman Mukesh Ambani. (Image source: Agencies)

As per the report, Tesla CEO Elon Musk's fortune plunged almost $62 billion. While former CEO and president of Amazon Jeff Bezos saw his wealth tumble by about $63 billion; Meta, also known as Facebook, founder Mark Zuckerberg’s net worth was slashed by more than half.

Notably, there only two billionaires in the top 10 list who saw gain in their fortunes – Gautam Adani (Chairman of Adani Group) and Mukesh Amabani (Chairman of Reliance Industries).

Here is the complete list of billionaires and the change in their wealth:

Rank	Name	Total Net worth	YTD change
1	Elon Musk	$208 Billion	-$61.8 Billion
2	Jeff Bezos	$130 Bliion	-$62.7 Billion
3	Bernard Arnault	$129 Billion	-$49.3 Billion
4	Bill Gates	$115 Billion	-$23.4 Billion
5	Larry Page	$99.4 Billion	-$29 Billion
6	Gautam Adani	$98.6 Billion	+22.1 Billion
7	Sergey Brin	$95.3 Billion	-$28.3 Billion
8	Warren Buffett	$94.3 Billion	-$14.1 Billion
9	Mukesh Ambani	$93 Billion	+$3.05 Billion
10	Steve Ballmer	$91.1 Billion	-$14.6 Billion

Data source: Bloomberg Index

This sharp fall in the billionaires' wealth comes as policy makers around the world are raising interest rates to combat elevated inflation after two years of slowdown in economies due to the Covid-19 pandemic.

In the last two years of pandemic, fortunes of the ultra-rich had swelled as governments and central banks had announced various stimulus measures to minimise the impact of pandemic on economies, juicing the value of everything from tech companies to cryptocurrencies.

(With agency inputs)

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator