Elon Musk, Jeff Bezos and Bill Gates lose $115 billion in five months
- Musk, Bezos and Gates’ net worths have been reduced by $115 billion this year.
- The numbers come from the Bloomberg Billionaires Index, which tracks the world’s 500 richest people.
- Musk’s $224 billion fortune still makes him the richest person in the world by a large margin.
Elon Musk, Jeff Bezos and Bill Gates suffered a collective loss of 115 billion dollars
In the past five months with falling stock markets.
According to the Bloomberg Billionaires Index, Musk’s value has decreased by $46.4 billion, Bezos has decreased by $53.2 billion, and Gates has decreased by $15.1 billion.
As of Friday, Musk was worth $224 billion, Bezos was $139 billion, and Gates was $123 billion.
Bernard Arnault, chairman of French luxury group LVMH and the world’s third-richest person before Gates, suffered a $44.7 billion drop from his value since January to $133 billion.
Much of Musk and Bezos’ wealth is tied up in shares of Tesla and Amazon – the two companies they both founded – but Gates’ holdings in Microsoft, which he co-founded, is now relatively modest.
Musk owns a 15.6% stake in Tesla worth about $122 billion after shares in the electric car maker plunged nearly 37% this year.
He also acquired a 9.2% stake in Twitter in April, which made investors question his commitment to Tesla and helped drive its value down. Musk sold $8.4 billion worth of Tesla shares to fund the subsequent $44 billion takeover offer.
Gates has a more diversified portfolio, which has helped him cope with the massive sell-off in the stock market. The Bill and Melinda Gates Foundation, the charity he set up with his now ex-wife, invests mostly in Warren Buffett’s Berkshire Hathaway, which is up more than 5% this year.
But other investments, including his Cascade Investments which invests in technology companies like Apple, have been more difficult. Technology stocks have suffered a sharp correction in recent months in the face of inflationary pressures and plunging consumer confidence.
musk Gates accuses of getting a “billion dollar” bet against Tesla by entering into a short-term deal.
The Tesla and SpaceX founder has engaged in a public war of words with both Gates and Bezos, targeting the pair in a series of tweets accusing Gates of being short and telling Bezos to spend less time partying if he wants to get into orbit with his counterpart. Blue Origin missile project.
Bezos, who founded Amazon, still owns about 50 million shares in the company, worth about $115 billion.
The stock is down nearly a third this year, but is still worth nearly $1.2 trillion — far more than Tesla’s valuation of $786 billion after a nearly 37% drop.