Billionaires Elon Musk, Jeff Bezos, Bill Gates, Larry Page lose $140 billion in net worth amid tech rout

Mumbai: Tech czars Elon Musk, Jeff Bezos, Bill Gates, and Larry Page have collectively lost $140 billion in net worth between January to May this year in the backdrop of a tech rout in the public market, according to Bloomberg Billionaires' Index.

According to the report, Tesla’s founder and CEO, Musk’s net worth fell $46 billion in the past five months, while Amazon’s founder Bezos lost more than $53 billion.

Microsoft’s founder Gates, the fourth richest person in the world, shed $15 billion in net worth since January while Google cofounder Page lost more than $26 billion of his net worth.


Musk’s dip is tightly linked to Tesla’s plunge on Nasdaq as the stock has fallen more than 33% in the last six months. Musk, bid $44 billion to acquire Twitter last month, owns a 15.6% stake in Tesla worth about $122 billion. Amazon’s shares too tell the same story for Bezos as the stock has slid more than 35% since December 2021.

Meta’s chief executive officer (CEO), Mark Zuckerberg, has lost a whopping $53 billion after the company’s stock plunged nearly 40% year-to-date.

Tech stocks have been seeing a meltdown leading to Nasdaq plummeting by more than 23% year-to-date. Technology shares have been losing steam this year as investors have dumped richly valued mega-weights for several reasons – which include – rising interest rates, surging inflation, and the Russia-Ukraine war.