To make sure you never miss out on your favourite NEW stories, we're happy to send you some reminders

Click 'OK' then 'Allow' to enable notifications

Not now
OK
Advert
Advert
Advert

Elon Musk, Jeff Bezos and Mark Zuckerberg lost a combined $300 billion in 2022

Jess Hardiman

Published 
| Last updated 

Elon Musk, Jeff Bezos and Mark Zuckerberg lost a combined $300 billion in 2022

Featured Image Credit: Apex MediaWire/Kristoffer Tripplaar/Alamy Stock Photo

Elon Musk, Jeff Bezos and Mark Zuckerberg have lost a combined $300 billion this year, thanks to a dive in the stock market.

The trio are among the world’s wealthiest people thanks to their ongoing dominance in the world of tech.

But according to the Metro’s Tech/Science Editor Jeff Parsons, the moguls lost a combined $297 billion (£245bn) in the past year, citing a number of factors that made 2022 a ‘tough year for tech’, including ‘supply chain issues, dwindling consumer spending and less engagement from people as Covid-19 lockdowns came to an end’.

Advert

Elon Musk’s net worth fell by $132bn (£110bn), with the Tesla and Twitter boss also losing his title as the world’s richest person earlier this month.

Jeff Bezos. Credit: MediaPunch Inc/Alamy Stock Photo
Jeff Bezos. Credit: MediaPunch Inc/Alamy Stock Photo

Jeff Bezos, meanwhile, lost $84bn (£70bn), and Zuckerberg’s net worth dropped by $81bn (£67bn), despite his best efforts to trudge forth with the ‘metaverse’.

That brings the total losses for the big three to $297bn – a number that jumps to $414bn (£342bn) when you add in the respective losses for Google co-founders Sergey Brin and Larry Page ($44.6bn/£37bn and $43.4b/£36bn) and those of Microsoft boss Bill Gates ($29bn/£24bn).

Advert

Earlier this month, Musk lost his place as the world’s richest man when he was overtaken by Bernard Arnault, the French business magnate and chief executive of luxury brand Louis Vuitton's parent company LVMH, and his family.

Elon Musk. Credit: AC NewsPhoto/Alamy Stock Photo
Elon Musk. Credit: AC NewsPhoto/Alamy Stock Photo

The news came after the value of Musk's Tesla stake dropped as investors dumped shares on the electric vehicle company over concerns he would be more focused on his $44 billion takeover of Twitter.

Then, of course, he announced he’d be stepping down as the head of the social media site, following a public vote online.

Advert

Musk had asked followers if he should stand down in a Twitter poll, saying: "I will abide by the results of this poll."

The final results came in as 57.5 percent in favour of Musk quitting, compared to 42.5 percent against it.

He later confirmed he would be true to his word, writing: "I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software and servers teams."

Topics: News, Technology, Elon Musk, Jeff Bezos, Mark Zuckerberg

Jess Hardiman
More like this
Advert
Advert
Advert

Chosen for YouChosen for You

Film & TV

All five Culkin brothers will act together in the same show for the first time

an hour ago

Most Read StoriesMost Read

CIA finally confirms what Area 51 is actually used for

3 hours ago