According to the Bloomberg Billionaires’ Index, tech titans Elon Musk, Jeff Bezos, Bill Gates, and Larry Page collectively lost $140 billion in net worth between January and May of this year as a result of the public market’s tech collapse.
According to the analysis, Tesla’s creator and CEO, Elon Musk, lost $46 billion in the last five months, while Amazon’s founder, Jeff Bezos, lost more than $53 billion. Bill Gates, the fourth richest man on the planet, has lost $15 billion in net worth since January, while Larry Page, the co-founder of Google, has lost more than $26 billion.
Musk’s demise is intrinsically linked to Tesla’s Nasdaq tumble, which has seen the stock fall by more than 33% in the last six months. Musk owns a $122 billion 15.6 percent stake in Tesla, which he paid $44 billion for last month. Since December 2021, Bezos’ stock has lost more than 35%, tracking the market’s decline.
Mark Zuckerberg, the company’s chief executive officer (CEO), has lost a staggering $53 billion after the company’s shares have plunged approximately 40% year-to-date. Elon Musk blasted US President Joe Biden again on Tuesday, declaring that he will vote Republican in November’s midterm elections because Democrats are attacking him and his companies from all sides. He revealed for the first time on Twitter earlier this month that he will now vote for Republicans, following his $44 billion buyouts, which drew conservatives back to the microblogging platform.
Soon after resigning from the hedging company D.E. Shaw, Jeff Bezos launched Amazon.com in a garage in Seattle in 1994. His previous supervisor, David E. Shaw, was initially uninterested in the idea of an online bookstore. In 2019, Bezos held up to 16 percent of Amazon before surrendering 4 percent to his ex-wife MacKenzie Scott as part of their divorce. The increased demand for online purchasing amid the COVID-19 epidemic boosted Amazon’s stock price by 76 percent in 2020.
Bezos stepped down as CEO of Amazon on July 5, 2021, and became the company’s executive chair. Bezos took Amazon public in 1997 and went on to become the first guy to reach a net worth of more than $100 billion since Bill Gates in 1999. Bezos’ other initiatives include the aerospace company Blue Origin, The Washington Post (which he bought in 2013), and the Long Now, a 10,000-year clock.
Blue Origin’s first successful crewed flight took place on July 20, 2021, with Bezos, his brother Mark, aviation pioneer Wally Funk, and Dutch student Oliver Daemen reaching an altitude of over 66 miles before safely landing. In the same month, Bezos’ fortune reached $211 billion.
Larry Page, like several other software millionaires on our list, began his journey to fame and money in a college dorm room. Page and his friend Sergey Brin came up with the idea of better internet data extraction while at Stanford University in 1995. The duo created “Backrub,” a new search engine technology named after its capacity to examine “backing links.” Page and Brin then went on to start Google in 1998, with Page serving as CEO until 2001, and then again between 2011 to 2019.
Planetary Resources, a space exploration, and the asteroid-mining corporation were founded by Page, who was one of the company’s early investors. The company was founded in 2009 and was acquired by blockchain developer ConsenSys in 2018 due to funding issues.
He’s also a fan of “flying vehicle” firms, having invested in both Kitty Hawk and Opener. Google’s stock increased about 50% in 2021, propelling Page and Brin to the top of the billionaire list. Page’s net worth has risen from a little about $52 billion in March 2020 to $105 billion now.
“Always be Updated with us visit GeeksULTD for Real-time Updates”
