The fortunes of the world’s 500 richest billionaires have fallen by nearly $1.4 trillion During the first half of 2022 Its the biggest semi-annual loss ever.
The sharp drop came following fortunes had ballooned over the past two years, as governments and central banks launched unprecedented stimulus measures in the wake of the coronavirus pandemic, driving up the value of all assets from technology companies to cryptocurrencies.
The wealth of the world’s richest billionaire, Elon Musk, founder and president of the Tesla Electric Vehicle Company, has fallen by $62 billion, according to a Bloomberg Agency report seen by Al Arabiya.net.
Amazon founder Jeff Bezos’ fortune fell by regarding $63 billion, while Facebook founder Mark Zuckerberg’s fortune fell by nearly 50% of his net worth.
The report pointed out that the central banks’ decision to raise interest rates to combat inflation led to a decline in the stock prices of most international companies, and thus the wealth of billionaires who own huge stakes in them decreased.
The report stated that the price of Tesla shares witnessed the worst quarterly performance during the second quarter of 2022, but the largest shareholder in it, Elon Musk, is still the richest man in the world, with a fortune estimated at regarding $208.5 billion, and immediately following him, Jeff Bezos, with a fortune close to $130 billion, according to data. Bloomberg Billionaires Index.
In third place came billionaire Bernard Arnault, the richest man in France and owner of Louis Vuitton, with a fortune of regarding $ 129 billion, and then Bill Gates, founder of Microsoft, with a fortune of more than $114.8 billion.
At the beginning of this year, these four rich people each owned more than 100 billion dollars and occupied the first four positions on the world’s billionaires, but only Mark Zuckerberg, whose fortune fell to 60 billion dollars at the end of the first half of this year, fell to 17th place now.
Changping Zhao, founder and CEO of Binance, who appeared on the Bloomberg Billionaires Index in January with an estimated fortune of $96 billion, has plunged $80 billion amid the turmoil in digital assets, marking the highest losses among the world’s richest.
