Technology stocks fell, Elon Musk, Jeff Bezos and Bill Gates lost $115 billion in 5 months
Business Insider cited the Bloomberg Billionaires Index as saying that the fortunes of Elon Musk, Jeff Bezos and Bill Gates have lost a total of $115 billion in five months amid the Wall Street stock market. continuously in the red.
In which, the fortune of Amazon founder Jeff Bezos fell the most with 53.2 billion USD. Tesla CEO Elon Musk lost $46.4 billion after facing mixed reactions from his takeover of Twitter, while billionaire Bill Gates lost $15.1 billion.
Thus, as of today, Elon Musk is still the richest billionaire in the world with a fortune of $224 billion, according to Bloomberg data. Jeff Bezos is in second place with $139 billion. Next is Bernard Arnault with $133 billion and Bill Gates with $123 billion.
According to Business Insider, most of Musk and Jeff Bezos’ fortune is in the form of shares of Tesla and Amazon. Currently, Mr. Musk owns 15.6% of Tesla shares worth about $122 billion.
As of today, Elon Musk is still the richest billionaire in the world with a fortune of $224 billion, according to Bloomberg data.
Since the beginning of this year, the shares of this electric car company have dropped by nearly 37%, in which, Elon Musk’s decision on the social networking site Twitter is believed to be a prerequisite for Tesla to sell off so much. Most believe that gaining control of the new social network will drain Musk’s time, effort and money, while the global electric vehicle industry is in need of a breakthrough.
“The Twitter acquisition has become a negative factor for Tesla stock,” said Wedbush analyst Dan Ives.
Before that, the world’s richest billionaire also sold a part of Tesla shares, worth about $ 8.4 billion to serve the acquisition of Twitter.
According to Business Insider, Bill Gates has a more diversified portfolio, so he avoids being partially involved in the stock market sell-off. The Bill and Melinda Gates Foundation, the charity he founded with his ex-wife, has spent most of its investment in Warren Buffett’s Berkshire Hathaway conglomerate. This investment is reported to have grown by more than 5% this year.
Bill Gates has a more diversified portfolio, so avoid getting involved in a market sell-off
However, other investments of Bill Gates, including Cascade Investments, are quite bleak due to being in the group of stocks that lose value continuously. Due to inflationary pressures and a drop in consumer confidence, tech stocks have suffered a sharp correction recently.
A representative of Snap technology has also forecasted that the second quarter of 2022 business activities of most Big Tech companies will be extremely difficult when investors express concerns about the economic downturn and sales. consumer goods.
“Like many other companies, we will continue to face inflation, rising interest rates, supply chain shortages, labor and the effects of the Russia-Ukraine conflict,” said CEO Evan Spiegel Snap. shall.
Also according to Business Insider, the relationship between technology billionaires in recent years has not been very good. For example, Elon Musk recently “twisted” Bezos on Twitter, saying that “if he wants to get into orbit, what he needs to do is party less and work more”. This response is related to the fact that Blue Origin – the aerospace company of the founder of Amazon – has just postponed its fifth flight into space.
Earlier, Elon Musk also mocked Gates’ overweight status and frankly stated that he did not trust the Microsoft founder.
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