Look THE CHANGING FORTUNES the richest people in the world 2022

 

Look THE CHANGING FORTUNES the richest people in the world 2022


The founders of Tesla, Oracle and Airbnb have lost billions of dollars this week amid heightened market volatility and continued pressure on tech stocks. But the market's troubles appear to be far from over.

Not surprisingly, many tech CEOs and founders have seen their fortunes drop the most since the close on Friday, Jan. 21, according to Forbes calculations.

Second straight week of losses: Tesla CEO Elon Musk, whose fortune slumps $22 billion after another rough week for shares of his electric car maker more than 10%. While Tesla reported a record profit after reporting quarterly earnings on Wednesday, investors remained focused on the company's warnings that supply chain issues could hurt growth in 2022.


Look THE CHANGING FORTUNES the richest people in the world 2022


The Richest People in the World 2022 Musk also insulted President Joe Biden , on Twitter on Thursday apparently in response to being snubbed at a White House forum of electric carmakers. Musk remains the world's richest person, with a net worth of $222.2 billion, according to Forbes estimates.

Meanwhile, Oracle co-founder Larry Ellison's world's richest man fell from fifth to eighth in a week, and shares of the software giant fell more than 2 percent. Ellison, who owns about 35 percent of Oracle (and has pledged millions of shares as collateral for loans), has seen his wealth drop by $3.4 billion to $109.2 billion, according to Forbes calculations. Oracle's stock has been on a downward trajectory since last month when it confirmed plans to buy medical records company Cerner for nearly $30 billion.

Other notable billionaires who saw their net worth drop this week include Airbnb CEO Brian Chesky and ​​Roblox co-founder David Baszucki. Shares of the home-rental company, which Chesky co-founded in 2008, fell $1.1 billion to $11.3 billion, while Airbnb shares fell 9 percent this week. Meanwhile  shares of gaming company Roblox , have fallen nearly 16 percent since Friday, reducing Baszucki's net worth by about $700 million, to $3.9 billion, according to Forbes estimates.

The fourth-quarter earnings season has so far failed, to boost stocks as some big-name companies reported poor results. Combined with investor fears of Fed tightening and imminent rate hikes, stocks are currently on course for their worst month since March 2020.

As government bond yields soared  investors continued to pull out of riskier growth and technology stocks, many of which were hit hardest in the broader market sell-off. The tech-heavy Nasdaq Composite is in correction territory after falling nearly 15% since the start of 2022, and the index is in for its worst January ever -- and its worst since the October 2008 financial crisis a month.


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Other billionaires whose fortunes shrank this week: Coinbase CEO Brian Armstrong's net worth fell by about $600 million to $7.3 billion, and shares on his cryptocurrency exchange fell 7.5 percent. Spotify co-founder Daniel Ek also lost about $400 million ,his net worth is $2.9 billion , as shares of his music-streaming platform fell nearly 12 percent since Friday.

Snap co-founders Bobby Murphy, and Evan Spiegel saw their fortunes drop by $350 million and $250 million, respectively. They are now worth $6.4 billion and $6.2 billion, respectively, after Snap's shares fell more than 5% this week.


The Richest People in the World 2022 


1  | ELON MUSK


NET WORTH : $222.2 BILLION, DOWN $22 BILLION

COUNTRY : UNITED STATES

SOURCE OF WEALTH : TESLA


2  | LARRY ELLISON


NET WORTH : $109.2 BILLION, DOWN $3.4 BILLION

COUNTRY : UNITED STATES

SOURCE OF WEALTH : SOFTWARE


3 | BRIAN CHESKY


NET WORTH : $11.3 BILLION, DOWN $1.1 BILLION

COUNTRY : UNITED STATES

SOURCE OF WEALTH : AIRBNB


4 | DAVID BASZUCKI


NET WORTH : $3.9 BILLION, DOWN $700 MILLION

COUNTRY : UNITED STATES

SOURCE OF WEALTH : ONLINE GAMES


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5 | BRIAN ARMSTRONG


NET WORTH : $7.3 BILLION, DOWN $600 MILLION

COUNTRY : UNITED STATES

SOURCE OF WEALTH : CRYPTOCURRENCY


6 | MARK ZUCKERBERG


NET WORTH : $107 BILLION, DOWN $500 MILLION

COUNTRY : UNITED STATES

SOURCE OF WEALTH : FACEBOOK


7 | JACK DORSEY


NET WORTH : $6.6 BILLION, DOWN $400 MILLION

COUNTRY : UNITED STATES

SOURCE OF WEALTH : TWITTER, SQUARE


8 | DANIEL EK


NET WORTH : $2.9 BILLION, DOWN $400 MILLION

COUNTRY : SWEDEN

SOURCE OF WEALTH : SPOTIFY


9 | BOBBY MURPHY


NET WORTH : $6.4 BILLION, DOWN $350 MILLION

COUNTRY : UNITED STATES

SOURCE OF WEALTH : SNAPCHAT


10 | EVAN SPIEGEL


NET WORTH : $6.2 BILLION, DOWN $250 MILLION

COUNTRY : UNITED STATES

SOURCE OF WEALTH : SNAPCHAT


Source : www.forbes.com

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