Elon Musk or Jeff Bezos? Here's which billionaire suffered the most after global stock market crash
From Elon Musk to Jeff Bezos, the world's wealthiest individuals lost billions of dollars in their net worth due to the worldwide stock market collapse.
From Elon Musk to Jeff Bezos, the world's wealthiest individuals lost billions of dollars in their net worth due to the worldwide stock market collapse.
Monday's collapse in the key stock market indexes was spurred by the dismal US jobs data, which plunged heavyweight equities into a tailspin and destabilised local indices.
The weakness in markets of the United States has made worldwide traders and investors uneasy. Meanwhile, the net worth of the billionaires associated with the artificial intelligence-obsessed corporations dropped together following the decline of $1 trillion in market value of the major American technological firms, including Amazon, Apple, Facebook parent Meta, Google parent Alphabet, Microsoft, Nvidia, and Tesla.
Here's which billionaire lost the most wealth on Monday
As shares of the retailer fell more than 5%, Jeff Bezos, the chairman and cofounder of Amazon, recorded the biggest single-day loss of any billionaire, according to Forbes' real-time net worth tracker. Bezos' fortune witnessed a drop by $8 billion to $179 billion.
Jensen Huang, CEO of Nvidia, saw his wealth drop by $7.9 billion to $87 billion, placing him in the second place amongst wealthy losers. His AI semiconductor chip juggernaut's stock fell almost 7%.
Meta CEO Mark Zuckerberg secured third spot in the list, with a $7 billion decline in net worth to $164 billion. The wealth of Oracle chairman Larry Ellison declined by $6 billion to $159 billion.
Elon Musk, who is the world's richest man, saw a $6 billion fall in his net worth to $221 billion as Tesla shares plummeted more than 5%.
Billionaires associated with the other seven crucial companies, which are not as engaged in day-to-day operations, also reported enormous paper losses.
The net worth of Sergey Brin and Larry Page, the cofounders of Google, was dropped by $4 billion each.
While co-founder of Microsoft Bill Gates lost $3 billion, former CEO of Microsoft Steve Ballmer's wealth saw a decline of $4 billion. Laurene Powell Jobs, the widow of Apple cofounder Steve Jobs, suffered loss of approximately $580 million.