It’s a bad year for billionaires. After adding trillions to their collective fortunes in 2020 and 2021, the world’s richest people have been rocked by 12 months of shaky stock markets, war in Europe and runaway inflation.
The world’s billionaires collectively lost $1.9 trillion in 2022, according to Forbes estimates, with their collective wealth rising from $13.8 trillion on New Year’s Day to $11.9 trillion on December 9. The number of milliardaires a également diminué, passing from 2 671 to 2 523, is the system of suivi in temps reel de Forbes, as many magnats tres in vue as Sam Bankman-Fried, Kanye West and the fondateur of Rivian RJ Scaringe ont quitté the classes.
No one has been hurt more than the nearly 300 tech billionaires, who collectively lost more than $1 trillion in 2022. After two turbulent years of a pandemic boom and overly aggressive investors sending stock values and tech startups skyrocketing, they have plummeted. Things are back to earth. Companies are cutting costs, laying off workers and canceling IPOs. ActionsAmazon It fell nearly 50%, which helped shave more than $80 billion off the founder’s net worth Jeff Bezos. a jobthe alphabetGoogle Inc., the parent company, fell 36%, taking more than $40 billion each from the fortunes of founders Larry Page and Sergey Brin. the event Microsoft It fell 27% through Dec. 9, chipping away at the fortunes of co-founder Bill Gates and former CEO Steve Ballmer, though Gates’ bad year was largely of his own making. This summer, he donated $20 billion to the Bill & Melinda Gates Foundation. Mark Zuckerberg, named “media and entertainment” by Forbes, lost about $78 billion this year, stocks in Meta platformsthe parent company of Facebook, with 66%.
The biggest loser in 2022, by far, is Elon Muskwhom Forbes ranks as an auto billionaire, because most of his net worth comes from the electric car maker are you here. He was reminded of this fact by investors, who pushed Tesla’s share price down 60% through December 20 of this year, in part because they feared that Musk, who is also the CEO of Rockets. SpaceXhe spends a lot of time and money on his new purchase, Twitter (He’s also the CEO—for now). According to Forbes, Musk lost more than $ 115 billion of his fortune in 2022. He started the year by far the richest person on the planet, ahead of the king of the world by almost $ 70 billion, French luxury Bernard Arnault. Musk lost the top spot to Arnault earlier this month and his net worth has continued to decline.
American billionaires have had the biggest loss this year, with a collective wealth estimated at nearly $660 billion. Along with the huge losses incurred by Musk and tech billionaires are American entrepreneurs like Nike co-founder Phil Knight (who lost $18.3 billion), former Estee Lauder boss Leonard Lauder (-$9.8 billion) and Rocket Mortgage founder Dan Gilbert ( $8.1 billion) among US citizens who had the worst years in 2022.
China, which has suffered from numerous issues related to Covid-19, domestic protests and collapsing global demand, has not fared much better. Chinese billionaires have lost a total of $620 billion, with the biggest loser being the co-founder ofAli BabaJack Ma (-$13.1 billion), who is believed to be living in Japan after China’s crackdown on tech, real estate heir Yang Huiyan (-$11.6 billion) and tech mogul Zhong Shanshan bottled water (-$11.3 billion).
Meanwhile, the war with Ukraine continues to take its toll on Russia’s richest people, who have been hit by sanctions and a faltering economy, leading to an estimated $150 billion drop in the total net worth of billionaires across the country.
However, not everyone works badly. New billionaires have emerged, including investment and sports mogul Todd Bohle and designer Tom Ford. It’s been a great year for a group of super-billionaires, including Colin Zheng Huang ($11.1 billion+), the Chinese billionaire behind the e-commerce giant Bindu Deo, and Low Tuck Kwong ($16 billion), known as the King of Coal in Indonesia. And Indian billionaire Gautam Adani is unlikely to complain about 2022. He’s had his best year ever, earning $55.1 billion in the last 12 months, about the value of his group. promise me – which has interests in ports, airports, power generation, green energy and real estate – has exploded. With $133.9 billion, he is expected to start 2023 as the third richest person in the world.
Translated article from Forbes US – Author: Chase Peterson-Withorn
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