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Biggest billionaire losers of 2022 — Elon Musk, Jeff Bezos lead the list

Biggest billionaire losers of 2022 — Elon Musk, Jeff Bezos lead the list
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By CNBCTV18.com Dec 30, 2022 7:44:16 AM IST (Published)

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SUMMARY

The world’s billionaires lost nearly $2 trillion, combined (globally), in the year 2022, according to Forbes. As tech stock prices took a nosedive triggered by rising interest rates, soaring inflation and a worsening economy, several billionaires saw their fortunes floundering this year. As 2022 comes to an end, here’s a look at the top billionaires who have lost the most this year.

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Elon Musk - Estimated losses: Nearly $115 billion; Net worth as of December 29: $139.9 billion | US billionaire and new Twitter CEO Elon Musk saw his fortune plunging the most in 2022. Musk’s net worth was slashed by about $115 billion this year, according to Forbes. Tesla’s stock price has also slumped by nearly 70 percent as of December 28. (Image: Reuters)

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Jeff Bezos - Estimated losses: Nearly $80 billion; Net worth as of December 29: $105 billion |  Bezos resigned from his role as Amazon chief executive last year to focus on his space exploration company Blue Origin. Once the second-richest person, he is currently ranked as the fifth-richest person in the world as of December 29, according to Forbes. Bezos owns around 10 percent of Amazon stock, whose price has fallen from $183 per share last year to around $81 apiece as of December 29 causing a dip in the billionaire’s wealth. (Image: Reuters)

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Mark Zuckerberg - Estimated losses: Nearly $78 billion; Net worth as of December 29: $42.1 billion | Zuckerberg, who once ranked among the top seven richest people in the world, is now ranked 26th in the Forbes Real Time Billionaires list. Meta has seen the value of its stock tumble by more than 65 percent from the start of this year. As of December 29, it was trading at around $115.6 a share. (Image: AP)

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Larry Page - Estimated losses: Nearly $40 billion; Net worth as of December 29: $75.6 billion | The co-founder of Alphabet has seen a steady drop in his wealth as the company’s shares dropped over the year. (Image: Reuters)

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Phil Knight - Estimated losses: Nearly $18.3 billion; Net worth as of December 29: $44.4 billion | The founder of shoe giant Nike, Phil Knight, retired as the company’s chairman in June 2016. Nike's last quarter report and the outlook were littered with red flags and the company’s earnings call hasn’t impressed the investors either, adding to the woes of its falling stock price. (Image: Reuters)

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Leonard Lauder - Estimated losses: Nearly $9.8 billion; Net worth as of December 29: $21.7 billion | Leonard Lauder ran the American cosmetics company, Estée Lauder, for three decades. The company’s stock price has significantly dropped compared to last year, causing a dip in the billionaire’s fortune. (Image: Reuters)

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Other high-profile moguls who completely dropped off of the billionaires' list in 2022 were Rapper Ye (formerly Kanye West), and Sam Bankman-Fried, former CEO of cryptocurrency trading platform FTX. (Image: Reuters)

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