Elon Musk, Jeff Bezos, the 8 tech billionaires that lost the most money between 2022 and 2022, and Jeff Bezos

Elon Musk and Jeff Bezos are among the tech billionaires that lost the most in 2022.
Ten tech billionaires worldwide lost $575 billion as stocks plummeted.

As of December 30, the net-worth numbers are

Steve Ballmer, former CEO of Microsoft lost $19.4 Billion.



Ballmer is the owner of the NBA’s Los Angeles Clippers. Kimberly White/Getty Images

Ballmer’s wealth, which he held as CEO of Microsoft between 2000 and 2014, is mostly tied up in shares of this tech giant. He’s now worth $86.2 billion after this year’s losses.

The company’s growth was slowed in 2022 due to a lower demand for personal computers and a stronger US Dollar. The company’s Windows operating system sales fell and the stock price also dropped 28% in the same year. Microsoft advised investors that they should expect low sales of personal computers in the coming year.

Zeng Yuqun lost $20.7 billion as the chairman of Contemporary Amperex Technology.



Zeng is the largest electric-vehicle battery supplier in the world. VCG via Getty Images

Zeng’s 23% stake in Contemporary Amperex Technology is the largest supplier of electric vehicle batteries. This accounts for most of his wealth. The year’s total net worth is $32.5 billion.

The company saw its sharpest quarterly decline with earnings of 24% in April. Prices for nickel, which is a key component of electric-car battery batteries, were volatile earlier in the year.

Bill Gates, cofounder of Microsoft lost $28.6 million.



Gates’ net worth declined along with Microsoft stock.

Gates is worth $110 billion and has many investments, including real estate and land. However, his Microsoft shares are his most valuable single holding.

Microsoft’s stock fell by close to 30% this year due to falling Windows sales and slow growth in cloud revenue.

MacKenzie Scott was a novelist as well as philanthropist who lost $37.3 billion.



Scott is Jeff Bezos’ ex-wife. Evan Agostini/Associated Press

Scott’s net worth was affected by Amazon’s stock decline this year, just like Jeff Bezos. Scott’s wealth is mainly derived from her 3% stake in Amazon. Shares fell by 50% this year. Her net worth is now $19 billion

In November, she wrote in a blog that she had donated nearly $2 billion to 343 organizations helping underserved communities.

Sergey Brin, cofounder of Google lost $44 billion



The majority of Brin’s net worth is derived from his stake at Alphabet.Evan Agostini/Invision/AP

Larry Page, Brin’s cofounder, lost $89 billion together this year. This was due to the difficulties that Alphabet and other tech companies faced in digital advertising. Brin has a net worth of $79.5 billion.

Like Page, Brin also gets most of his wealth through his share in Alphabet (Google’s parent company). Page and Brin owned 85.9% of Alphabet’s Class B shares at the close of last year. This represented just over half of the company’s voting power.

Larry Page, cofounder of Google lost $45.3 billion.



Page controls about 6% Alphabet.Justin Sullivan/Getty Images

As Alphabet struggles with digital advertising, both Page and Brin’s net worth declined this year. Page’s wealth, which now amounts to $83.1 billion, comes mainly from his 6% share in Alphabet.

Alphabet has reportedly slowed down its hiring and cut back on offsite perks and travel for employees.

Mark Zuckerberg, CEO of Meta, has lost $79.9 million.



This year, revenue at Zuckerberg’s Meta dropped. Kevin Dietsch/Getty Images

Zuckerberg ended last year as the sixth-richest man in the world. However, he finishes 2022 at No. With $45.6 billion, he is 25th on the list.

Meta, formerly Facebook’s revenue, dropped this year due to a possible economic recession and a difficult year for digital advertising.

Meta has laid off 11,000 employees in order to reduce expenses while it continues building the metaverse.

Changpeng Zhao (CZ) Zhao, cofounder and CEO at Binance, has lost $83.3 billion.



Zhao was affected by the crypto winter of this year.

Zhao’s net worth of $12.6 billion comes mainly from his control stake in Binance, a cryptocurrency exchange.

Investors have been concerned about the crypto market’s assets since the collapse of FTX. Binance was the one that helped FTX before it filed for bankruptcy.

Binance customers drew billions of dollars from the crypto platform this month. Due to the volatility in crypto prices and withdrawals, Binance had $54.7 billion in digital assets at mid-December. It was $69.5 billion less than a month before.

According to reports, the Department of Justice is investigating the firm for money laundering allegations.

Jeff Bezos (the founder of Amazon and Blue Origin), lost $85.2 million.



Amazon stock drop this year means that Bezos’ wealth has fallen. Anadolu Agency / Getty Images

Bezos, who was fired as Amazon’s CEO last summer, remains the largest shareholder of the company. However, tech stocks declined this year and Amazon’s shares dropped by 50%. Bezos now has a value of $107 billion.

High inflation and slow sales growth have been challenges for the company. Amazon was one of many tech companies to lay off employees this year. This is the largest number in Amazon’s history.

Elon Musk, CEO of Tesla, SpaceX and Twitter, lost $132 million.



Musk’s title of the world’s wealthiest man was lost in 2022. Adrees Latif/Reuters

Bernard Arnault (CEO of LVMH), recently took Musk’s title as the richest person on the planet. Musk is now the second-richest human being on Earth with a fortune worth $138 billion.

He was the only billionaire to lose more money this year than anyone else.

Tesla shares hold a lot of Musk’s wealth. Tesla’s stock plunged by 70% in 2017 due to investors growing concerned about Musk’s takeover at Twitter.

The weakening demand in electric cars, especially in China, was another factor that affected Tesla’s stock.

Business Insider has the original article.
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By: bnguyen@insider.com (Britney Nguyen)
Title: Elon Musk, Jeff Bezos, and the 8 other tech billionaires who lost the most money in 2022
Sourced From: www.businessinsider.com/tech-billionaires-lost-most-money-this-year-musk-bezos-gates-2022-12
Published Date: Sat, 31 Dec 2022 10:15:00 +0000